NVIDIA Reports Record Revenues and Earnings for Second Quarter Fiscal 2001
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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.
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