TweakTown
Tech content trusted by users in North America and around the world
5,930 Reviews & Articles | 38,201 News Posts

NVIDIA Reports Financial Results for First Quarter Fiscal 2011

NVIDIA Reports Financial Results for First Quarter Fiscal 2011

 

-- Revenue grew 2 percent quarter-on-quarter to $1.0 billion
-- GAAP net income increased to $137.6 million, or $0.23 per diluted
share
-- GAAP gross margin improved to 45.6 percent

 

NVIDIA reported revenue of $1.0 billion for the first quarter of fiscal 2011 ended May 2, 2010, up 2 percent from the prior quarter and up 51 percent from $664.2 million in the same period a year earlier. On a GAAP basis, the company recorded net income of $137.6 million, or $0.23 per diluted share, for the first quarter of fiscal 2011. That compares with $131.1 million, or $0.23 per diluted share, in the previous quarter and a net loss of $201.3 million, or $0.37 per share, in the same period a year earlier.

 

Gross margin increased to 45.6 percent for the first quarter fiscal 2011 from 44.7 percent in the previous quarter and 28.6 percent in the same period a year earlier.

 

TweakTown image pr/3/3/3375_01.jpg

 

• Revenue grew 2 percent quarter-on-quarter to $1.0 billion

 

• GAAP net income increased to $137.6 million, or $0.23 per diluted share

 

• GAAP gross margin improved to 45.6 percent

NVIDIA today reported revenue of $1.0 billion for the first quarter of fiscal 2011 ended May 2, 2010, up 2 percent from the prior quarter and up 51 percent from $664.2 million in the same period a year earlier.

 

On a GAAP basis, the company recorded net income of $137.6 million, or $0.23 per diluted share, for the first quarter of fiscal 2011. That compares with $131.1 million, or $0.23 per diluted share, in the previous quarter and a net loss of $201.3 million, or $0.37 per share, in the same period a year earlier.

 

Gross margin increased to 45.6 percent for the first quarter fiscal 2011 from 44.7 percent in the previous quarter and 28.6 percent in the same period a year earlier.

 

"With our new Fermi-class GPUs in full production, NVIDIA's key profit drivers are fully engaged," said Jen-Hsun Huang, NVIDIA CEO and president. "We shipped a few hundred thousand Fermi processors into strong consumer demand. Our Quadro business for workstations grew strongly, fueled by pent up demand from enterprise customers and new growth markets like video editing. And we had record revenue from Tesla processors for high-end servers. We anticipate continued strength in these businesses over the coming quarters."

 

Outlook

 

The outlook for the second quarter of fiscal 2011 is as follows:

 

• Revenue is expected to be down seasonally 3 to 5 percent from the first quarter.

 

• GAAP gross margin is expected to increase to 46 to 47 percent.

 

• GAAP operating expenses are expected to be flat.

 

• Tax rate of 12 to 14 percent, assuming a renewal of the U.S. R&D tax credit. Otherwise, tax rate of 14 to 16 percent.

 

First Quarter Fiscal 2011 Highlights:

 

• NVIDIA launched and shipped the GeForce GTX 480 and GeForce GTX 470, the first GPUs based on the company's Fermi architecture.

 

• The first phones using NVIDIA's Tegra processors shipped, the KIN ONE and KIN TWO from Microsoft.

 

• NVIDIA launched major new stereo 3D technologies, including NVIDIA 3DTV Play and the Quadro Digital Video Pipeline. Epic Games announced that it had incorporated 3D Vision into its popular Unreal Engine 3 game engine.

 

• CUDA registered another major success: Adobe started shipping Creative Suite 5 in April. This version of Adobe Premiere Pro exclusively uses CUDA to accelerate the new Adobe Mercury Playback Engine, which allows real-time previews for multi-layer projects.

 

• NVIDIA began shipments of the GeForce 320M integrated chipset to Apple for incorporation into the latest 13-inch MacBook Pro. The 320M delivers up to an 80 percent performance increase over the previous GeForce 9400M GPU. In addition, the new 15- and 17-inch MacBook Pro both come standard with the new GeForce GT 330M.

 

CFO Commentary

 

Commentary on the quarter by David White, NVIDIA chief financial officer and executive vice president, is available at http://www.nvidia.com/investor.

 

Related Tags

Further Reading: Read and find more Video Cards press releases at our Video Cards PR index page.

Do you get our RSS feed? Get It!

Post a Comment about this press release

Latest Tech News Posts

View More News Posts

TweakTown Web Poll

Question: Facebook's acquisition of Oculus VR will...

Improve Oculus Rift Development

Hamper Oculus Rift Development

Completely destroy Oculus Rift Development

Let's wait and see, I'm not sure

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases