Cavium Announces Financial Results for Q1 2017

SAN JOSE, Calif., April 26, 2017 – Cavium, Inc. (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, wired and wireless networking, today announced financial results for the first quarter ended March 31, 2017.

Net revenue in the first quarter of 2017 was $229.6 million, a 1.5% sequential increase from the $226.2 million reported in the fourth quarter of 2016 and 125.3% from the $101.9 million reported in the first quarter of 2016.

Generally Accepted Accounting Principles (GAAP) Results
Net loss for the first quarter of 2017 was $50.5 million, or ($0.75) per diluted share, compared to $121.6 million, or ($1.82) per diluted share in the fourth quarter of 2016. Gross margins were 40.1% in the first quarter of 2017 compared to 43.4% in the fourth quarter of 2016. GAAP operating loss (GAAP loss from operations as a percentage of revenue) was 17.0% in the first quarter of 2017 compared to 12.9% in the fourth quarter of 2016. Total cash and cash equivalents were $132.4 million at March 31, 2017.

Non-GAAP Results
Cavium believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Cavium’s financial condition and results of operations. Cavium believes that these non-GAAP financial measures provide additional insight into Cavium’s ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Cavium’s results of operations in conjunction with the corresponding GAAP measures. The reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this release.

In the first quarter of 2017, Non-GAAP net income was $41.7 million, or $0.58 per diluted share, Non-GAAP gross margin was 65.7% and Non-GAAP operating margin (non-GAAP income from operations as a percentage of revenue) was 22.0%.

Recent News Highlights

• April 3, 2017  - Networking Industry Leaders Joined Forces to Expand New Open Source Community to Drive Development of the DPDK Project
• April 3, 2017  - Cavium FastLinQ® 25/100GbE Ethernet Adapter Accelerates Telco NFV & Cloud Workloads
• March 27, 2017  - Cavium FastLinQ® Ethernet First Achieves Microsoft Windows Server SDDC Premium Certification
• March 20, 2017  - Cavium and Elenion Technologies Collaborated to Offer Silicon Photonics Enabled End-to-End Server-to-Switch Solutions
• March 8, 2017  - Cavium Collaborated with Microsoft to Showcase SONiC Compatibility at OCP US Summit 2017
• March 8, 2017  - Cavium and Microsoft Collaborated to Accelerate Cloud Services with ThunderX2™
• February 27, 2017  - Cavium Showcased Extensive Portfolio of Solutions for 5G Infrastructure at Mobile World Congress 2017
• February 27, 2017 - Cavium Joined Telecom Infra Project to Enable OpenCellular Access to LTE, LTE-A and NFV/5G Technologies
• February 27, 2017  - Cavium Announced Expansion of OCTEON Fusion-M® Baseband Products
• February 27, 2017 - Cavium and Trend Micro Introduced Mobile Edge Computing and NFV Solutions on ThunderX® and OCTEON TX™ Platforms
• February 27, 2017 - Cavium Partners with China Unicom and Showcased M-CORD NFV/5G at Mobile World Congress 2017
• February 13, 2017 - Cavium Demonstrated the Newest Infrastructure Security Solutions at RSA 2017

Cavium will broadcast its first quarter of 2017 financial results conference call today, April 26, 2017, at 2 p.m. Pacific time (5 p.m. Eastern time). The conference call will be available via a live web cast on the investor relations section of the Cavium website at http://www.cavium.com. Please access the website at least a few minutes prior to the start of the call in order to download and install any necessary audio software. An archived web cast replay of the call will be available on the web site for a limited period of time. 

About Cavium
Cavium offers a broad portfolio of integrated, software compatible processors ranging in performance from 1Gbps to 100Gbp that enable secure, intelligent functionality in Enterprise, Data Center, Broadband, Mobile and Service Provider Equipment, highly programmable switches which scale to 3.2Tbps and Ethernet and Fibre Channel adapters up to 100Gbps. Cavium processors are supported by ecosystem partners that provide operating systems, tools and application support, hardware reference designs and other products. Cavium is headquartered in San Jose, CA with design centers in California, Massachusetts, India, Israel, China and Taiwan. For more information, please visit: http://www.cavium.com.

Cavium Contact
Angel Atondo
Sr. Marketing Communications Manager
Tel: (408) 943-7417
Email:angel.atondo@cavium.com

Source: Cavium Inc

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Cavium FastLinQ® Ethernet First to Achieve Microsoft Windows Server SDDC Premium Certification

Enables 10/25GbE RDMA NICs for SDN, Storage Spaces Direct and Microsoft Azure Stack 

SAN JOSE, CA – March 27, 2017 – Today, Cavium, Inc. (NASDAQ: CAVM), a leading provider of semiconductor products that enable secure and intelligent processing for enterprise and cloud data centers, announced that its FastLinQ QL45000 Series of 10/25GbE Ethernet NICs are now certified for Microsoft Windows Server Software Defined Datacenter (SDDC) Premium, the highest category of SDDC certification from Microsoft. Customers can now leverage the full potential of Windows Server 2016 cloud-ready technologies like Software Defined Networking (SDN) and Storage Spaces Direct, as well as Microsoft Azure Stack with Cavium FastLinQ NICs.

“Traditional network infrastructures are rigid and complex, making it time-consuming to deploy workloads that require network changes and increasing the chance for error,” said Frank Berry, founder and senior analyst, IT Brand Pulse. “Organizations can achieve rapid scale and agility when they adopt a software-defined network (SDN) and software-defined storage (SDS) model for deployment and management. Windows Server software-defined datacenter technologies like Storage Spaces Direct backed with certified products enable organizations to look beyond server virtualization to achieve higher efficiency and meet operational and security challenges.”

“Software Defined Networking, Storage Spaces Direct and Microsoft Azure Stack are core to Microsoft’s strategy to deliver a software-defined hybrid cloud infrastructure,” said Ravi Rao, Group Manager, Datacenter and Cloud Networking, Windows Server, Microsoft Corp. “The SDDC Premium certification enables datacenter managers and system integrators deploying Microsoft SDDC technologies to leverage the proven feature set and high-performance capabilities of Cavium Ethernet NICs to build an efficient and reliable hyper-converged datacenter.”

Arun Mittal, Vice President of Engineering, Cavium, said, “Cavium FastLinQ NIC delivers hardware offloads for VxLAN overlays, Virtual Machine Multi-Queue (VMMQ) for Hyper-V Virtual Machines, Remote Direct Memory Access (RDMA) and Data Center Bridging (DCB) for RDMA, key requirements for SDDC Premium certifications. This achievement further solidifies the key role Cavium FastLinQ NICs play in delivering full software defined capabilities for storage and networking for Windows Server 2016.” 

Craig Parker, Head of Integrated Systems Business, EMEAI, Fujitsu, said, “We are fast-tracking the creation of enterprise software-defined datacenters (SDDC) and our PRIMERGY servers form the system bedrock for Microsoft’s cloud-ready Windows Server 2016 solutions. We are working closely with Cavium and Microsoft to bring to customers a scalable and agile platform that guarantees a tested and perfectly synchronized combination of software defined technologies. The Cavium FastLinQ SDDC Premium certification is a significant step in the right direction.”

Customers deploying Microsoft SDDC Premium certified Cavium FastLinQ 10/25GbE NICs with Windows Server 2016 will have the ability to leverage the following technologies to their maximum potential:

·         Software Defined Networking: Delivering the ability to offload packet processing for VxLAN and NVGRE overlays for network virtualized environments, Cavium FastLinQ NICs and Windows Server 2016 enable an agile and high performance software-defined network for cloud-ready datacenters, with support for VMMQ, RDMA, DCB, and many other offloads. SDDC Premium certified products are pre-configured and recommended for SDN on Windows Server 2016.

·         Storage Spaces Direct: With support and acceleration for Microsoft Storage Spaces Direct, FastLinQ 45000 Series of Ethernet adapters with Universal RDMA enable customers to build highly available and scalable software-defined storage and hyper-converged solutions with Ethernet RDMA as the storage fabric. Leveraging standard servers with local storage brings the affordability and scalability of the cloud to private and hybrid cloud deployments. SDDC Premium certified NICs are recommended for maximum scalability of a Storage Spaces Direct hyper-converged deployment.

·         Microsoft Azure Stack: Delivering a new hybrid cloud platform product with Azure Stack, Microsoft in conjunction with OEMs and ODMs is bringing the power and simplicity of the Azure cloud platform to on-premises environments. SDDC Premium certified Ethernet NICs are required for Azure Stack solutions, making the FastLinQ QL45000 Series an ideal choice for OEMs and ODMs building turnkey solutions for Azure Stack.

For more information, visit www.qlogic.com and www.cavium.com

About Cavium

Cavium, Inc. (NASDAQ: CAVM), offers a broad portfolio of infrastructure solutions for compute, security, storage, switching, connectivity and baseband processing. Cavium’s highly integrated multi-core SoC products deliver software compatible solutions across low to high performance points enabling secure and intelligent functionality in Enterprise, Data Center and Service Provider Equipment. Cavium processors and solutions are supported by an extensive ecosystem of operating systems, tools, application stacks, hardware reference designs and other products. Cavium is headquartered in San Jose, CA with design centers in California, Massachusetts, India, Israel, China and Taiwan. 

Media Contact

Angel Atondo
Sr. Marketing Communications Manager
Telephone: +1 408-943-7417
Email: angel.atondo@cavium.com 

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Cavium gets the Microsoft tick of approval

Cavium is a leading provider of semiconductor products for data centers. At the Microsoft Ignite 2016 event the company announced its support for Microsoft Windows Server 2016.

The QLogic portfolio of ethernet and fibre channel adapters from Cavium are now fully qualified for Microsoft Windows Server 2016.

Which - according to the semiconductor company - enables key public, private and hybrid cloud capabilities, that allow IT functions to adapt rapidly to the ever changing landscape.

Windows Server 2016 is Microsoft's cloud-ready server operating system. Cavium says it delivers new levels of security, performance, resiliency and cost efficiency, enabling organizations to innovate faster to compete effectively.

Ravi Rao, principal PM manager for Windows Server at Microsoft, says RDMA is key to Microsoft’s strategy for a software defined hybrid cloud infrastructure based on Windows Server 2016.

“QLogic FastLinQ Ethernet adapters deliver a rich feature set including Routable RDMA capabilities and great Ethernet performance as well - enabling customers to leverage Microsoft technologies like Hyper-V, SMB Direct and Storage Spaces Direct in their journey to build a secure, efficient and hyper-converged data center," explains Rao.

As well as its complete portfolio of I/O adapters, the QConvergeConsole management application delivers a comprehensive set of capabilities for all Windows Server 2016 implementations.

Rajneesh Gaur, general manager and vice president of the Ethernet Adapter Group at Cavium, says the portfolio provides a cutting edge set of networking technologies for Azure-inspired hybrid cloud deployments.

"These products epitomize the innovation and value that QLogic adapters deliver in Microsoft Windows 2016 with connectivity speeds ranging from 10GbE to 100GbE.”

 Source:Datacenternews.asia

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Cavium QLogic Accelerates Software Defined Datacenters with Windows Server 2016

QLogic® Ethernet and Fibre Channel portfolio delivers key capabilities to build a Hybrid Cloud

Atlanta, GA – Sep. 27, 2016 – Microsoft Ignite 2016 – Today, Cavium, Inc. (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for enterprise and cloud data centers announced broad support for Microsoft Windows Server 2016. Cavium’s QLogic portfolio of Ethernet and Fibre Channel adapters are now fully qualified for Microsoft Windows Server 2016, enabling key public, private and hybrid cloud capabilities, that allow IT functions to adapt rapidly to changing business requirements.

Windows Server 2016, Microsoft’s cloud-ready server operating system, delivers new levels of security, performance, resiliency and cost efficiency, enabling organizations to innovate faster to compete effectively. QLogic’s broad I/O connectivity portfolio of FastLinQ™ 10/25/40/50/100GbE Ethernet Adapters and Enhanced Gen 5 (16GFC) and Gen 6 (32GFC) Fibre Channel Adapters bring forth a new generation of Software Defined Networking (SDN) and Storage (SDS) capabilities with Windows Server 2016 for applications and infrastructure, accelerating their journey to the cloud.

“RDMA is key to Microsoft’s strategy for a software defined hybrid cloud infrastructure based on Windows Server 2016, QLogic FastLinQ Ethernet adapters deliver a rich feature set including Routable RDMA capabilities and great Ethernet performance as well – enabling customers to leverage Microsoft technologies like Hyper-V, SMB Direct and Storage Spaces Direct in their journey to build a secure, efficient and hyper-converged datacenter” said Ravi Rao, Principal PM Manager, Windows Server, Microsoft Corp.

With Windows Server 2016, QLogic FastLinQ Ethernet Adapters deliver key networking features used in the Azure datacenters for performance, agility and availability, including:

·    Application Acceleration with Remote Direct Memory Access (RDMA): The QLogic 45000 Series of Ethernet adapter is the only family that supports Universal-RDMA technology, including RoCE and RoCEv2, and capable of iWARP. This provides a RDMA technology choice to customers and enables applications and infrastructure to leverage Windows Server 2016 technologies like SMB Direct and High Performance Live Migration over RDMA, accelerating storage workloads while reducing server CPU utilization.

·      High Performance, Scalable Hyper-Converged Infrastructure: With support and acceleration for Microsoft Storage Spaces Direct (S2D), QLogic 45000 Series of Ethernet adapters enable customers to build highly available and scalable software-defined storage (SDS) solutions using standard servers with local storage, bringing the affordability and scalability of the cloud to private and hybrid cloud deployments.

·      Network Acceleration for Virtual Machines: With support for Microsoft Windows Server 2016 Virtual Machine Multi Queue (VMMQ) technology, QLogic 45000 Series Network Adapters enable near linear scalability in performance of Hyper-V virtualized workloads by scaling the network performance across multiple virtual compute resources. In addition, QLogic FastLinQ 45000 Series Adapters deliver acceleration for Hyper-V Network Virtualization (HNV) workloads by offloading protocol processing for VxLAN and NVGRE, enabling customers to build and scale virtualized networks without impacting network performance.

For enterprise class storage connectivity, the QLogic 2600 and 2700 Series of Fibre Channel Adapters in Windows Server 2016 deliver:

·         Superior Fibre Channel Connectivity: QLogic Fibre Channel in-box driver support for Windows Server 2016 simplifies and accelerates the deployment of Hyper-V platforms to cloud scale while delivering the industry’s highest transactional performance of 2.6 Million IOPS, supporting the most demanding enterprise workloads.

·         Advanced SAN Fabric Management– QLogic StorFusion™ technology delivers a full suite of diagnostics, rapid provisioning and QoS services throughout the fabric. These adapters automate and simplify SAN deployment and orchestration. This is vital in software-defined data centers built using Windows Server 2016 and Nano Server.

·         Direct Fibre Channel Access for Guest VMs – QLogic Fibre Channel adapters enable Virtual Fibre Channel (vFC) for Windows Server 2016 enabling the use of advanced storage functionality directly from the VMs.

In addition to a complete portfolio of I/O adapters, the QConvergeConsole® management application delivers a comprehensive set of capabilities for all Windows Server 2016 implementations, including Nano, Core and Server, providing customers with a consistent single pane of glass, scalable management interface, to build, deploy and maintain a hybrid cloud infrastructure on Azure-inspired Windows Server 2016.

“QLogic FastLinQ Ethernet adapters with support for Windows Server 2016 deliver comprehensive and cutting edge set of networking technologies for Azure-inspired hybrid cloud deployments,” said Rajneesh Gaur, general manager and vice president of Ethernet Adapter Group, Cavium. “These products epitomize the innovation and value that QLogic adapters deliver in Microsoft Windows 2016 with connectivity speeds ranging from 10GbE to 100GbE.

“Fibre Channel is an inherently secure and reliable data network,” said Vikram Karvat, vice president of marketing, Fibre Channel Storage Group, Cavium. “The QLogic Enhanced Gen 5 and Gen 6 Fibre Channel Adapters build on the foundation of Windows Server 2016 delivering unsurpassed value by enabling enterprise applications to meet peak demand, while minimizing downtime, and simplifying Storage Area Network (SAN) administration.”

“Now that operating platforms are designed to run thousands of business, storage and networking applications on clusters of industry standard servers, the humble server adapter has emerged as critical data center infrastructure,” said Frank Berry, founder and senior analyst, IT Brand Pulse. “I expect powerful and highly sophisticated adapters from Cavium to play a key role in data centers of the future.

For more information, visit www.qlogic.com and www.cavium.com

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