NVIDIA Corporation Reports Record Fourth Quarter and Fiscal 2000 Revenues and Earnings
For Further Information Contact:
Mary Ann Allencourt
Investor Relations Specialist
Public Relations Manager
For Immediate Release
SANTA CLARA, CA — February 15, 2000 — NVIDIA™ Corporation (Nasdaq: NVDA) today reported record revenues and earnings for the fourth quarter of fiscal 2000 and the year ended January 30, 2000.
For the fourth quarter of fiscal 2000, revenues increased to $128.5 million, compared to $65.5 million for the fourth quarter of fiscal 1999, an increase of 96%. Net income for the fourth quarter was $14.6 million, or $.39 per fully diluted share, compared to $7.7 million or $.27 per fully diluted share in the fourth quarter of fiscal 1999. Fully diluted shares increased to 37.6 million in the fourth quarter of fiscal 2000 as compared to 28.8 million in the fourth quarter of fiscal 1999.
For the year ended January 30, 2000, revenues increased 137% to $374.5 million, compared to $158.2 million for the year ended January 31, 1999. Net income for the year increased 822% to $38.1 million, or $1.06 per fully diluted share, compared to $4.1 million, or $.15 per fully diluted share, for the prior fiscal year.
"The fourth quarter capped an extraordinary year of growth for NVIDIA," stated Jen-Hsun Huang, president and CEO of NVIDIA. "During the quarter, NVIDIA continued to extend its technological leadership. Our GeForce 256™ GPU earned numerous awards, including Micro Design Resources' 1999 Analyst's Choice Award for Best 3D Processor. Additionally, top PC OEMs Compaq, Dell, Gateway, HP and Micron standardized on GeForce 256 in their performance desktop PCs."
"In November 1999, NVIDIA entered the workstation market with the introduction of the Quadro™ workstation GPU. And in January 2000, we announced our first professional workstation design win with IBM. We also disclosed our collaboration with SGI and VA Linux Systems to deliver the industry's first 100% OpenGL® conformant professional graphics subsystems to the emerging desktop Linux market."
"Fiscal 2000 was a milestone year for NVIDIA. We strengthened our technology leadership; introduced three new brands – Quadro, GeForce and Vanta; dramatically increased our technology portfolio through cross-licenses with SGI and S3; and expanded our reach into multiple geographies and channels. And most importantly, we've built a strong foundation to drive our continued growth. We deeply appreciate the unwavering support and encouragement of our stockholders, customers, partners, employees and their families."
For more financial information, please access the investor relations' portion of the Company's web site at http://www.nvidia.com.
NVIDIA Corporation (Nasdaq: NVDA) designs, markets and sells a top-to-bottom family of award winning 3D graphics processors, delivering industry-leading performance and visual quality for a broad range of PC-based applications, including e-commerce, e-business, education, science and entertainment. In use by large corporations, small- to medium-sized businesses, and home-based consumers, NVIDIA's products are distributed through a worldwide channel that includes PC OEM, add-in card, system builder and motherboard partners in Europe, Asia and North America. For more information, please visit the Company's Web site at http://www.nvidia.com.
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: Please note that the recommended way of writing NVIDIA, RIVA 128, RIVA 128ZX, RIVA TNT and RIVA TNT2 is all CAPITALS.
NVIDIA, the NVIDIA logo, RIVA TNT, RIVA TNT2 and NVIDIA Vanta are trademarks of NVIDIA Corporation. RIVA, RIVA 128 and RIVA 128ZX are trademarks of NVIDIA Corporation and STMicroelectronics. Other company and product names may be trademarks or registered trademarks of the respective companies with which they are associated.
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