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TWST: What has gone on at Mellanox over the past few quarters
that investors should focus on?
Mr. Waldman: We have exceeded our financial numbers and in the
past few quarters we've seen consistent growth in our revenues.
We have shipped to over 100 companies since Mellanox was formed
and we have seen consistent revenue growth since the second
quarter of 2001. We already have three products in production:
InfiniHost, our second generation HCA, InfiniScale, our second-
generation switch device, and InfiniBridge, our first generation
InfiniBand product. All of these products are shipping in volume
today. There are between five and eight customers that are
already entering the production stage, including one first tier
storage company, Network Appliance. NetApp has announced they are
using and shipping our InfiniBridge device in their high-end,
high-availability FAS900c storage system. And we expect more
first tier companies to go to production with our silicon in
early 2003. Many dedicated InfiniBand product companies, such as
Topspin Communications, JNI Corp, Voltaire, InfiniCon and others
have also introduced products based on our silicon. We'll
introduce next generation products during 2003 that will be
software compatible with the product lines that we have today. TWST: This has been a very difficult economic environment. Why
are you showing solid growth when so many people are struggling?
Mr. Waldman: Infiniband creates a new market with a lot of room
for growth. Our technology provides an optimal solution for the
server and storage markets. One example is that 2003 projections
show about 5 million or more servers to be sold. So as InfiniBand
gains acceptance we have the potential to grow units rapidly even
if the server market declines by a few points versus that
projection. We find ourselves in a unique situation where even if
IT expenditures continue to decline we have a lot of room to
grow. And it's not only servers but storage and embedded
applications as well.
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