NVIDIA Reports Operating Results for Third Quarter Fiscal Year 2005
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FOR IMMEDIATE RELEASE
SANTA CLARA, CA--November 4, 2004--NVIDIA Corporation (Nasdaq: NVDA) today reported financial results for the third quarter of fiscal 2005 ended October 24, 2004.
For the third quarter of fiscal 2005, revenue was $515.6 million, compared to $486.1 million for the third quarter of fiscal 2004. Net income for the third quarter of fiscal 2005 was $25.9 million, or $0.15 per diluted share, compared to net income of $6.4 million, or $0.04 per diluted share, for the third quarter of fiscal 2004, an increase of over 300 percent.
Revenue for the nine months ended October 24, 2004 was $1.44 billion, compared to revenue of $1.35 billion for the nine months ended October 26, 2003. Net income for the nine months ended October 24, 2004 was $52.3 million, or $0.30 per diluted share, compared to net income of $50.3 million, or $0.29 per diluted share, for the nine months ended October 26, 2003.
“We delivered our best quarter in nearly two years,” stated Jen-Hsun Huang, president and CEO of NVIDIA. “We are at the early stages of our GeForce 6 ramp. Our improving financial performance reflects the success of the GeForce 6 architecture and our strategy to re-capture the technology leadership position. We are ramping the GeForce 6 family aggressively and intend to quickly drive our award-winning architecture into every segment and market we serve.”
Third Quarter Fiscal 2005 Highlights
- NVIDIA launched and delivered volume production of three new desktop GeForce™ 6 graphics processing units (GPUs) designed for the mainstream and value segments including the 6600 GT, 6600 and 6200. Unit shipments of all GeForce 6 GPUs increased by more than 500 percent over the previous quarter.
- NVIDIA grew share from 26 percent to 64 percent in the Performance DX9 desktop GPU segment, and regained the number one spot, according to Mercury Research’s Third Quarter PC Graphics Report 2004.
- NVIDIA announced and shipped the new NVIDIA nForce4™ family of PCI Express media and communications processors (MCPs). The NVIDIA nForce4 enables a new class of performance PCs with the introduction of the revolutionary SLI™ scalable graphics technology, ActiveArmor™ secure networking engine, native support for next generation SATA 3Gb/s hard drive technology and nTune™ system utility.
- NVIDIA’s GoForce™ wireless media processor (WMP) is standard in Motorola’s new 3G cell phones and has started volume production the third quarter. The WMP product line is now the Company’s fastest growing business.
- NVIDIA announced the GoForce 3D 4500, the world’s first 3D WMP to deliver high-performance 3D and multimedia functionality, revolutionary power management and 3.1 megapixel camera support in a single processor. Gizmondo Europe Ltd., a subsidiary of Tiger Telematics Inc., announced that the GoForce 3D 4500 will be incorporated into Gizmondo’s upcoming game pad.
- NVIDIA achieved record revenue in the workstation business group. Led by the NVIDIA Quadro™ FX 4400 SLI, the professional graphics industry’s fastest solution, the Company’s workstation business has grown approximately 100 percent year-over-year.
NVIDIA will conduct a conference call with analysts and investors to discuss its third quarter fiscal 2005 financial results and current financial prospects today at 2:00 P.M. Pacific Time (5:00 P.M. Eastern Time). To listen to the call, please dial (706) 679-0543. A live web cast (listen-only mode) of the conference call will be held at the NVIDIA investor relations web site http://www.nvidia.com and at http://www.streetevents.com. The web cast will be recorded and available for replay until the Company’s conference call to discuss its financial results for its fourth quarter fiscal 2005.
NVIDIA Corporation is a worldwide leader in graphics and digital media processors. The Company’s products enhance the end-user experience on consumer and professional computing devices. NVIDIA GPUs (graphics processing units), MCPs (media and communications processors), and WMPs (wireless media processors) have broad market reach and are incorporated into a variety of platforms, including consumer and enterprise PCs, notebooks, workstations, PDAs, mobile phones, and video game consoles. NVIDIA is headquartered in Santa Clara, California and employs more than 2,000 people worldwide. For more information, visit the Company’s Web site at www.nvidia.com.
Certain statements in this press release including, but not limited to, statements as to our strategy to integrate our products into the value desktop, notebook and professional business segments, our financial performance and our key design wins are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, market acceptance of our new products, manufacturing and other delays relating to our current and new products, difficulties integrating our products into customers’ products, difficulties in the fabrication process and our dependence on third-party manufacturers, general industry trends including cyclical trends in the PC, handheld and semiconductor industries, manufacturing costs and the pricing of components, the impact of competitive products and pricing alternatives, changes in industry standards and interfaces, , our dependence on third-party developers and publishers and the impact of litigation and other proceedings and other risks detailed from time to time in the reports NVIDIA files with the Securities and Exchange Commission including its Form 10-Q for the quarter ended July 25, 2004.These forward-looking statements speak only as of the date of this release. NVIDIA disclaims any obligation to update these forward-looking statements.
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