NVIDIA Announces Preliminary Second Quarter Results
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For Immediate Release
SANTA CLARA, CA. – July 30, 2002 – NVIDIA® Corporation (Nasdaq: NVDA) today announced that it expects to report total revenues of approximately $410 million to $430 million for the second quarter of fiscal 2003 ending July 28, 2002. The decrease in revenues from the prior period was primarily the result of broad weakness in the personal computer market. In addition, the Company expects to take a significant inventory write-off in the second quarter. Including the inventory write-off, the Company expects its earnings for the second quarter to be at or above break-even.
NVIDIA expects to announce final second quarter financial results after the market close on August 15, 2002.
NVIDIA will conduct a conference call with analysts and investors to discuss its preliminary second quarter fiscal 2003 financial results today at 2:00 P.M. Pacific Time (5:00 P.M. Eastern Time). To listen to the conference call, please dial 706-679-0543; no password is required. The conference call will also be webcast live (listen-only mode) at the following websites: www.nvidia.com and www.streetevents.com. You must have a compatible media player installed on your computer in order to listen to the webcast. You may download a media player for free at the sites listed above.
Replay of the conference call will be available at the web sites noted above or via telephone by calling 800-642-1687 (or 706-645-9291), passcode 5101002. The replay of the conference call will be available until August 6, 2002.
NVIDIA Corporation, located in Santa Clara, CA, is the global leader in advanced graphics and multimedia processing technology for the consumer and professional computing markets. Its 2D, 3D, video and multimedia capabilities make NVIDIA one of the premier semiconductor companies in the world. NVIDIA offers a wide range of products and services, delivering superior performance and crisp visual quality for PC-based applications such as manufacturing, science, e-business, entertainment and education.
Certain statements in this press release, including the statements relating to the Company’s preliminary results for the second quarter of fiscal 2003 and the expected financial results, 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, the need to finalize the financial results for the second quarter and have such results reviewed by the Company and KPMG LLP; the strength of our business model; customer and distributor acceptance and other issues related to product transitions; 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; the impact of litigation and other proceedings; 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 “Certain Business Risks,” for a fuller discussion of these and other risks and uncertainties.
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