NVIDIA Reports Record Revenues and Earnings for Third Quarter Fiscal 2001
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Mary Ann Allencourt
SANTA CLARA, CA — November 9, 2000 — NVIDIA® Corporation (Nasdaq: NVDA) today reported record revenues and earnings for the third quarter of fiscal 2001 and the nine months ended October 29, 2000.
For the third quarter of fiscal 2001, revenues increased to $198.2 million, compared to $97.0 million for the third quarter of fiscal 2000, an increase of 104 percent. Operating income for the third quarter of fiscal 2001 was $36.6 million, compared to $15.1 million in the third quarter of fiscal 2000. Net income for the third quarter of fiscal 2001 was $28.1 million, or $0.35 per diluted share, compared to $10.6 million, or $0.15 per diluted share for the third quarter of fiscal 2000. Diluted shares increased to 80.4 million in the third quarter of fiscal 2001 as compared to 71.9 million in the third quarter of fiscal 2000.
Revenues for the nine months ended October 29, 2000 were $517.0 million, an increase of 110 percent compared to revenues of $246.1 million for the nine months ended October 31, 1999. Operating income for the nine months ended October 29, 2000 was $91.2 million compared to $33.6 million for the nine months ended October 31, 1999. Net income for the nine months ended October 29, 2000 was $68.9 million, compared to net income of $23.5 million for the nine months ended October 31, 1999. Diluted net income per share for the first nine months of fiscal 2001 was $0.87, compared to a diluted net income per share of $0.33, in the same period last year.
"Our third quarter highlights the continued execution of our core strategy," stated Jen-Hsun Huang, president and CEO of NVIDIA. "We extended our technology leadership position with our newest GPU, the GeForce2 Ultra. The rapid adoption of our top-to-bottom family of GPUs by the world's leading OEMs and system builders is driving our market share gains. And, we have innovative product development programs that will drive our franchise beyond our core desktop market in the coming months. We are in a terrific position for continued growth."
For more financial information, please access the investor relations' portion of NVIDIA's web site at www.nvidia.com/Company.nsf/Investor.htm.
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Certain statements in this press release, including the statements relating to the Company's performance expectations for NVIDIA's family of products and expectations of continued revenue growth, 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, manufacturing and other delays relating to new products, difficulties in the fabrication process and dependence of the Company on third-party manufacturers, general industry trends including cyclical trends in the PC and semiconductor industries, the impact of competitive products and pricing alternatives, market acceptance of the Company's new products, and the Company's dependence on third-party developers and publishers. Investors are advised to read the Company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, particularly those sections entitled "Factors Affecting Operating Results," for a fuller discussion of these and other risks and uncertainties.
Notes to Editors: GeForce2 Ultra, GeForce 256, GeForce2 GTS, and GeForce2 MX should be written as shown, with an uppercase "G" and "F", with a lowercase "e" and a lowercase "orce." There is no space between "GeForce" and "2" for GeForce2 Ultra, GeForce2 GTS, and GeForce2 MX. There is a space before "Ultra," "GTS," "MX," and "256." The word "Ultra" is in titlecase. "MX" and "GTS" are in ALL CAPITALS. The recommended format for Vanta and Quadro is title case. Quadro2 Pro and Quadro2 MXR should be written as shown; there is no space between "Quadro" and "2." There is a space before "MXR" and it is in ALL CAPITALS. The recommended format for NVIDIA, NVIDIA TNT2, NVIDIA TNT, RIVA 128, and RIVA 128ZX and is ALL CAPITALS.
NVIDIA, the NVIDIA logo, GeForce, GeForce2, GeForce2 Ultra, GeForce2 MX, GeForce2 GTS, GeForce 256, Quadro2, NVIDIA Quadro2, Quadro2 Pro, Quadro2 MXR, Quadro, NVIDIA Quadro, Vanta, NVIDIA Vanta, TNT2, NVIDIA TNT2, TNT, NVIDIA TNT, NVIDIA RIVA, RIVA, NVIDIA RIVA 128ZX, and NVIDIA RIVA 128 are registered trademarks or trademarks of NVIDIA Corporation in the United States and/or other countries. Other company and product names may be trademarks or registered trademarks of the respective owners with which they are associated.