NEW YORK, NY -- (Marketwire) -- 09/06/2011 -- NVIDIA announced at a financial conference this afternoon that it has provided a financial outlook for fiscal year 2013, which begins Jan. 30, 2012.
The company anticipates revenue of $4.7 billion to $5.0 billion.
It expects GAAP and non-GAAP gross margins of approximately 51 percent to 53 percent.
NVIDIA further anticipates GAAP operating expenses of $1.54 billion to $1.61 billion, and non-GAAP operating expenses of $1.38 billion to $1.43 billion. Non-GAAP operating expenses are expected to exclude stock-based compensation expense, amortization of acquisition-related intangible assets and other acquisition-related costs.
"We see growth across our entire GPU and mobile-processor business," said Jen-Hsun Huang, NVIDIA president and chief executive officer. "The future for computing is visual and mobile, and we are well positioned to lead in this new era."
To supplement the company's outlook for fiscal 2013, prepared in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross margin and non-GAAP operating expenses. In order for NVIDIA's investors to be better able to compare its outlook with the results of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, amortization of acquisition-related intangible assets and other acquisition-related costs. NVIDIA believes the presentation of its outlook using non-GAAP financial measures enhances the user's overall understanding of the company's historical financial performance. The presentation of the company's non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company's financial results or outlook prepared in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies.
NVIDIA (NASDAQ: NVDA) awakened the world to the power of computer graphics when it invented the GPU in 1999. Since then, it has consistently set new standards in visual computing with breathtaking, interactive graphics available on devices ranging from tablets and mobile phones to notebooks and workstations. NVIDIA's expertise in programmable GPUs has led to breakthroughs in parallel processing which make supercomputing inexpensive and widely accessible. The Company holds more than 1,900 issued patents worldwide, including ones covering designs and insights that are essential to modern computing. For more information, see http://www.nvidia.com.