January 9, 2018 / 1:38 PM / 11 days ago

BRIEF-Mellanox Discontinuing 1550NM Silicon Photonics Development Activities

Jan 9 (Reuters) - Mellanox Technologies Ltd:

* MELLANOX DISCONTINUING 1550NM SILICON PHOTONICS DEVELOPMENT ACTIVITIES

* MELLANOX TECHNOLOGIES LTD - ‍COMPANY INTENDS TO RETAIN SILICON PHOTONICS INTELLECTUAL PROPERTY​

* MELLANOX TECHNOLOGIES - ‍EXPECTS THERE WILL BE NO IMPACT FOR VARIABLE OPTICAL ATTENUATORS PRODUCT,CO WILL CONTINUE TO SELL TO,SUPPORT VOA CUSTOMERS​

* MELLANOX TECHNOLOGIES LTD - ‍DISCONTINUATION OF CO‘S 1550NM SILICON PHOTONICS DEVELOPMENT ACTIVITIES NOT EXPECTED TO HAVE IMPACT ON 2018 REVENUES​

* MELLANOX - ‍DISCONTINUATION OF 1550NM SILICON PHOTONICS DEVELOPMENT TO RESULT IN EXPECTED 2018 NON-GAAP OPERATING EXPENSE SAVINGS OF $26 MILLION-$28 MILLION​

* MELLANOX TECHNOLOGIES LTD - ‍DISCONTINUATION OF CO‘S 1550NM SILICON PHOTONICS DEVELOPMENT WILL RESULT IN ESTIMATED CHARGE OF $21 MILLION TO $24 MILLION​

* MELLANOX TECHNOLOGIES LTD - ‍EXPECTS TO RECOGNIZE MOST OF RESTRUCTURING CHARGES IN Q1 OF 2018​

* MELLANOX TECHNOLOGIES LTD - ‍DISCONTINUATION OF 1550NM SILICON PHOTONICS DEVELOPMENT TO RESULT IN REDUCTION IN FORCE OF ABOUT 100 PEOPLE​ Source text for Eikon: Further company coverage:

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