Mellanox (MLNX) warns it expects Q4 revenue of $119M-$121M, well below prior guidance of...
Wednesday, January 2, 4:15 PM ETMellanox (MLNX) warns it expects Q4 revenue of $119M-$121M, well below prior guidance of $145M-$150M and a consensus of $148.3M. The company blames weaker demand, macro issues, and a "technical issue" related to cables for its 56 Gb/s InfiniBand hardware that caused $20M in orders to be delayed; Mellanox claims the cabling issue is fixed. Shares are halted, expect a big move lower. (institutional selling: I, II)
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