NVIDIA Reports Record Revenues and Earnings for Second Quarter Fiscal 2001
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Mary Ann Allencourt
Investor Relations Manager
Tel: (408) 615-2750
Director of Public Relations
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For Immediate Release
SANTA CLARA, CA. – August 21, 2000 – NVIDIAR Corporation (Nasdaq: NVDA) today reported record record revenues and earnings for the second quarter of fiscal 2001 ended July 30, 2000.
For the second quarter of fiscal 2001, revenues increased to $170.4 million, compared to $78.0 million for the second quarter of fiscal 2000, an increase of 118 percent. Operating income for the second quarter of fiscal 2001 was $29.0 million, compared to $9.5 million in the second quarter of fiscal 2000. Net income for the second quarter of fiscal 2001 was $22.5 million, or $0.28 per fully diluted share, compared to $6.7 million, or $0.09 per fully diluted share for the second quarter of fiscal 2000.
Revenue for the six months ended July 30, 2000 was $318.9 million, an increase of 114 percent compared to revenue of $149.0 million for the six months ended August 1, 1999. Operating income for the six months ended July 30, 2000 was $54.6 million compared to $18.5 million for the six months ended August 1, 1999. Net income for the six months ended July 30, 2000 was $40.8 million, compared to net income of $13.0 million for the six months ended August 1, 1999. Diluted net income per share for the first half of fiscal 2001 was $0.52, compared to a diluted net income per share of $0.18 for the first half of fiscal 2000.
The net income per share and number of shares used in the per-share calculation for all periods presented reflect the two-for-one stock split that was effective June 26, 2000.
"The second quarter of fiscal 2001 was a milestone quarter for NVIDIA," stated Jen-Hsun Huang, president and CEO of NVIDIA. "We are pleased with our focus and execution of each core element of our strategy. We continued to extend our technology leadership. Our 'top-to-bottom' product offering continues to expand, as we completed the roll out of a full line of GeForce2 GPUs. OEMs worldwide are recognizing the benefits of our Unified Driver model. And the thrusts into our newest markets, workstation and commercial desktop, were strengthened with groundbreaking new products. We are in a terrific position to rapidly expand our market share and extend our technological reach well beyond the core consumer market."
For more financial information, please access the investor relations' portion of NVIDIA's web site at http://www.nvidia.com.
The computing industry recognizes NVIDIA as the global leader in advanced graphics processing technology, honoring the company with the most graphics awards in the history of the PC industry. The unmatched breadth of the NVIDIA product family enables gripping multimedia experiences for the entire desktop computer market from workstations to internet-enabled appliances. PC OEMs, add-in card manufacturers, system builders, and consumer electronics companies worldwide choose NVIDIA GPUs as the core component of their graphics processing solutions. NVIDIA GPUs are used by large corporations, small- to medium-sized businesses, and home-based consumers. NVIDIA graphics processors deliver superior performance and crisp visual quality for PC-based applications such as manufacturing, science, e-business, entertainment, and education. For more information, please visit the Company's web site at http://www.nvidia.com.
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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 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.