NVIDIA Corporation Reports Record Fourth Quarter and Fiscal 2000 Revenues and Earnings
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For Immediate Release
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.
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