NVIDIA Reports Financial Results for Second Quarter Fiscal Year 2012
(firmenpresse) - SANTA CLARA, CA -- (Marketwire) -- 08/11/11 -- NVIDIA (NASDAQ: NVDA)
Revenue increased 5.7 percent to $1.02 billion from $962.0 million in
the previous quarter.
GAAP net income was $151.6 million, or $0.25 per diluted share;
non-GAAP net income was $193.5 million, or $0.32 per diluted share.
GAAP gross margin increased to 51.7 percent, a record for the fourth
consecutive quarter; non-GAAP gross margin increased to 51.9 percent from
the first quarter's 50.6 percent.
NVIDIA (NASDAQ: NVDA) today reported revenue of $1.02 billion for the
second quarter of fiscal 2012 ended July 31, 2011, up 5.7 percent from the
prior quarter, and up 25.3 percent from $811.2 million in the same period
a year earlier.
On a GAAP basis, the company recorded net income of $151.6 million, or
$0.25 per diluted share, for the second quarter of fiscal 2012. This
includes a two-cent dilutive impact from the Icera acquisition. It
compares with net income of $135.2 million, or $0.22 per diluted share, in
the prior quarter. In the same period a year earlier, the company had a net
loss of $141.0 million, or $0.25 per diluted share.
On a non-GAAP basis -- which excludes stock-based compensation,
amortization of acquisition-related intangible assets, other acquisition
related costs, and the tax impact associated with these items -- net income
was $193.5 million, or $0.32 per diluted share. That compares with net
income of $165.7 million, or $0.27 per diluted share, in the prior quarter,
and net income of $47.6 million, $0.08 per share, in the same period a year
earlier.
GAAP gross margin was 51.7 percent, a fourth consecutive record, compared
with 50.4 percent in the previous quarter and 16.6 percent in the same
period a year earlier. Non-GAAP gross margin, at 51.9 percent, was also a
record, and compares with 50.6 percent in the prior quarter and 39.2
percent in the same period a year earlier.
"We grew solidly this quarter," said Jen-Hsun Huang, NVIDIA president and
chief executive officer. "Consumer demand for notebooks powered by our
GeForce GPU, with its unique Optimus technology, resulted in record revenue
for these products.
"The future of computing is mobile and visual. With Tegra's momentum and
our growing GPU businesses, we are ideally positioned to lead the industry
forward," he said.
Our outlook for the third quarter of fiscal 2012 is as follows:
Revenue is expected to be up 4 to 6 percent from the second
quarter
GAAP and non-GAAP gross margins are expected to be flat
GAAP operating expenses are expected to be in the range of $361 million
to $366 million; non-GAAP operating expenses are expected to be $319
million to $321 million
Our GAAP and non-GAAP tax rates are both expected to be 15 to 17
percent
We estimate depreciation and amortization for the second quarter to be
approximately $53 million to $57 million. Capital expenditures are
expected to be in the range of $25 to $35 million.
Diluted shares for the third quarter are expected to be approximately 615
million.
Note: this outlook now includes Icera.
NVIDIA completed the Icera acquisition on June 10, 2011.
NVIDIA launched the GeForce GTX 580M for gaming notebooks.
Optimus™, our notebook power-saving technology, is now available
through our whole range of GPUs, top to bottom, and across three
generations.
NVIDIA Tesla processors power the fastest supercomputer in Russia.
NVIDIA and its partners launched six new Tegra®-based superphones (up
from two in the previous quarter), including the Motorola Photon 4G and
Samsung Galaxy R; and four new tablets, including the Samsung Galaxy Tab
10.1.
Commentary on the quarter by Karen Burns, NVIDIA interim chief financial
officer, is available at .
NVIDIA will conduct a conference call with analysts and investors to
discuss its second quarter fiscal 2012 financial results and current
financial prospects today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern
Time). To listen to the call, please dial (706) 679 2572. A live webcast
(listen-only mode) of the conference call will be accessible at the NVIDIA
investor relations web site and at .
The webcast will be recorded and available for replay until the company's
conference call to discuss its financial results for its third quarter
fiscal 2012.
To supplement NVIDIA's Condensed Consolidated Statements of Operations and
Condensed Consolidated Balance Sheets presented in accordance with GAAP,
the company uses non-GAAP measures of certain components of financial
performance. These non-GAAP measures include non-GAAP gross profit,
non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income,
and non-GAAP net income per share. In order for NVIDIA's investors to be
better able to compare its current results with those of previous periods,
the company has shown a reconciliation of GAAP to non-GAAP financial
measures. These reconciliations adjust the related GAAP financial measures
to exclude a charge related to the weak die/packaging material set that was
used in certain versions of NVIDIA's previous generation MCP and GPU
products, net of insurance reimbursement, stock-based compensation,
amortization of acquisition-related intangible assets, other
acquisition-related costs, and the associated tax impact of these items,
where applicable. NVIDIA believes the presentation of its non-GAAP
financial measures enhances the user's overall understanding of the
company's historical financial performance. The presentation of the
company's
non-GAAP financial measures is not meant to be considered in isolation or
as a substitute for the company's financial results prepared in accordance
with GAAP, and our non-GAAP measures may be different from non-GAAP
measures used by other companies.
NVIDIA (NASDAQ: NVDA) awakened the world to the power of computer graphics
when it invented the GPU in 1999. Since then, it has consistently set new
standards in visual computing with breathtaking, interactive graphics
available on devices ranging from tablets and portable media players to
notebooks and workstations. NVIDIA's expertise in programmable GPUs has led
to breakthroughs in parallel processing which make supercomputing
inexpensive and widely accessible. The Company holds more than 1,900 issued
patents worldwide, including ones covering designs and insights that are
essential to modern computing. For more information, see .
Certain statements in this press release including, but not limited to
statements as to: the future of computing; Tegra's momentum; the strength
of the company's GPU business; the company's positioning to shape the
future of computing; the company's financial outlook for the third quarter
of fiscal 2012; efforts to increase gross margin and control operating
expenses; the company's strategic investments in the mobile space; and the
effects of the company's patents on modern computing are forward-looking
statements that are subject to risks and uncertainties that could cause
results to be materially different than expectations. Important factors
that could cause actual results to differ materially include: global
economic conditions; our reliance on third parties to manufacture,
assemble, package and test our products; the impact of technological
development and competition; development of new products and technologies
or enhancements to our existing product and technologies; market acceptance
of our products or our partners products; design, manufacturing or
software defects; changes in consumer preferences or demands; changes in
industry standards and interfaces; unexpected loss of performance of our
products or technologies when integrated into systems; as well as other
factors detailed from time to time in the reports NVIDIA files with the
Securities and Exchange Commission, or SEC, including its Form 10-Q for the
fiscal period ended May 1, 2011. Copies of reports filed with the SEC are
posted on the company's website and are available from NVIDIA without
charge. These forward-looking statements are not guarantees of future
performance and speak only as of the date hereof, and, except as required
by law, NVIDIA disclaims any obligation to update these forward-looking
statements to reflect future events or circumstances.
© 2011 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo,
GeForce, Tegra and Tesla are trademarks and/or registered trademarks of
NVIDIA Corporation in the U.S. and/or other countries. Other company and
product names may be trademarks of the respective companies with which they
are associated. Features, pricing, availability, and specifications are
subject to change without notice.
For further information, contact:
Rob Csongor
Investor Relations
NVIDIA Corporation
(408) 566-6373
Robert Sherbin
Corporate Communications
NVIDIA Corporation
(408) 566-5150
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Datum: 11.08.2011 - 14:20 Uhr
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