Friday, May 11th 2012

NVIDIA Reports Financial Results for First Quarter Fiscal Year 2013

NVIDIA today reported revenue of $924.9 million for the first quarter of fiscal 2013 ended Apr. 29, 2012.

"Kepler GPUs are accelerating our business," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Our newly launched desktop products are winning some of the best reviews we've ever had. Notebook GPUs had a record quarter. And Tegra is on a growth track again, driven by great mobile device wins and the upcoming Windows on ARM launch.

"Graphics is more important than ever. Look for exciting news next week at the GPU Technology Conference as we reveal new ways that the GPU will enhance mobile and cloud computing," he said.


Outlook
Our outlook for the second quarter of fiscal 2013 is as follows:

● Revenue is expected to be between $990 million and $1.05 billion.
● GAAP gross margin is expected to be 51.2 percent, plus or minus one percentage point. Non-GAAP gross margin is expected to be 51.5 percent, plus or minus one percentage point.
● GAAP operating expenses are expected to be approximately $418 million. Non-GAAP operating expenses are expected to be approximately $354 million.
GAAP operating expenses for the second quarter are expected to include a one-time charge related to a corporate donation to Stanford Hospital of $25 million, payable over a 10-year period. We are joining Stanford's initiative, along with other corporations in the high-tech community, including Apple, eBay, HP, Intel, Intuit and Oracle, to build a leading-edge health care institution.
● GAAP and non-GAAP tax rates are expected to be approximately 20 percent, plus or minus one percent, for the second quarter and fiscal year, excluding any discrete tax events that may occur during the quarter, which, if realized, may increase or decrease our GAAP and non-GAAP tax rates. If the U.S. research tax credit is reinstated into tax law, we estimate our annual effective tax rate for the fiscal year 2013 to be approximately 16 percent.

We estimate depreciation and amortization for the second quarter to be approximately $55 million to $57 million. Capital expenditures are expected to be in the range of $35 to $45 million.

Diluted shares for the second quarter are expected to be approximately 628 million.

First Quarter Fiscal 2013 and Recent Highlights:

● NVIDIA launched its new Kepler-architecture GPUs to rave reviews. Products included the GeForce GTX 670, GeForce GTX 680, the dual-GPU GeForce GTX 690, and the notebook range of GeForce 600M GPUs.
● The first Ultrabook with an NVIDIA GPU, the Acer Aspire Timeline M3, launched on March 6.
● NVIDIA's first Tegra 3 phone launched on Feb. 26, the HTC One X, to wide acclaim in the media. Tegra 3 phones are available from 22 carriers in Europe and Asia.
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24 Comments on NVIDIA Reports Financial Results for First Quarter Fiscal Year 2013

#1
Dj-ElectriC
I can already see that the second one will make tons of profits... *cough GTX670
Posted on Reply
#2
treboRR
by: Dj-ElectriC
I can already see that the second one will make tons of profits... *cough GTX670
hehheee nice one.....INDEED 670
Posted on Reply
#3
techtard
The GTX 660 will be the real money maker. $350+ graphics cards don't sell as much as enthusiasts think.
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#4
okidna
by: Casecutter
Sneaky bundling... Because this leaves the read think those come in the First Quarter, which would be Jan to end of March! To even print this in first quarter reporting statement is more than just misleading while delivering it outright in such a format is permitting Nvidia to LIE... and plainly dishonest! :shadedshu
"First Quarter Fiscal 2013 and Recent Highlights:"

First point is "Recent Highlights", second and third is "First Quarter Fiscal 2013".

:laugh:
Posted on Reply
#5
Casecutter
Is this a forward looking statement for Q1 2013; or the reporting ending Apr. 29, 2012? :wtf:

Yea I deleted that becuase the title is NVIDIA Reports Financial Results for First Quarter Fiscal Year 2013
Are they are already reporting earnings for 2013!
I'd like to show "Results" for my 2013 earnings, this is just screwy!
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#6
joyman
by: Dj-ElectriC
I can already see that the second one will make tons of profits... *cough GTX670
Probably... if they actually produce them, not only virtual presence in the stores.
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#7
D007
I thought this would say "Nvidia made 50 bajillion dollars, selling people overpriced video cards and stealing their children, to sell into slavery by a hidden (we own your child) caluse"..
That's what I expect from Nvidia anyway..
Posted on Reply
#8
marsey99
selling mid range cards at high end prices like a baws!
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#9
Xzibit
Nvidia stock rating was being downgraded and upgraded from being downgrade late jan early feb from differant rating agentcies.

Nvidia responded by blaming the flood disaster in Thailand limiting HDD supply along with its poor performance on the Tegra 2 to Tegra 3 transition.

They have a lot of cash on hand slightly under 3 Billion but they havent experience any sustained growth in awhile.
Posted on Reply
#10
Dj-ElectriC
by: marsey99
selling mid range cards at high end prices like a baws!
Selling low profile graphics cards for high prices is so in today, aren't you in?
Posted on Reply
#11
Eva01Master
by: marsey99
selling mid range cards at high end prices like a baws!
Having mid-range GPUs, consuming like mid range cards and performing like high(est) end like a boss!
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#12
Selene
When you sell a mid range product for high end prices you make money, Nvidia should send AMD a thank you letter!
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#13
NuclearRussian
When you start stating financial results please give full information to people, and not hide it in a table which most wont bother reading. In the first sentence you only mention revenue, an impressive number, but fail to state the net income, which fell 47.9% from last quarter btw. Namely:

"NVIDIA today reported revenue of $924.9 million and GAAP net income of $60.4 million, 48% lower than Q4 FY12, for the first quarter of fiscal 2013 ended Apr. 29, 2012."

P.S. I love how last table, with the losses, gets put in at such small size that it is unreadable unless clicked on...
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#14
atikkur
yes yes yes, it's still overpriced alot.
still waiting for the correct price while previous gen card is just enough, no point to hurry.
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#15
ChristTheGreat
by: Dj-ElectriC
I can already see that the second one will make tons of profits... *cough GTX670
That will be in my computer as soon as my HD6950 get away :)

Well served, over 1 years, first time I keep a card as long as this one!
Posted on Reply
#16
Recus
by: NuclearRussian
When you start stating financial results please give full information to people, and not hide it in a table which most wont bother reading. In the first sentence you only mention revenue, an impressive number, but fail to state the net income, which fell 47.9% from last quarter btw. Namely:

"NVIDIA today reported revenue of $924.9 million and GAAP net income of $60.4 million, 48% lower than Q4 FY12, for the first quarter of fiscal 2013 ended Apr. 29, 2012."

P.S. I love how last table, with the losses, gets put in at such small size that it is unreadable unless clicked on...
Shouldn't you worry about fixing monthly Russian planes crashes instead of trolling?
Posted on Reply
#17
NuclearRussian
by: Recus
Shouldn't you worry about fixing monthly Russian planes crashes instead of trolling? http://s14.postimage.org/nquotq97h/facepalm.gif
Shouldn't you be thinking about how much what you are saying relates to the thread topic before posting...oh wait...clearly you have nothing to think with, my bad there comrade, keep going. Or tell you what, go read my post again, maybe after 5 times or so you might understand it. If not, hint: Wiktionary.

:shadedshu

P.S. Pardon for derailment by responding to trolls, had to vent a bit
Posted on Reply
#18
Benetanegia
by: NuclearRussian
When you start stating financial results please give full information to people, and not hide it in a table which most wont bother reading. In the first sentence you only mention revenue, an impressive number, but fail to state the net income, which fell 47.9% from last quarter btw. Namely:

"NVIDIA today reported revenue of $924.9 million and GAAP net income of $60.4 million, 48% lower than Q4 FY12, for the first quarter of fiscal 2013 ended Apr. 29, 2012."

P.S. I love how last table, with the losses, gets put in at such small size that it is unreadable unless clicked on...
OMG a company doing worse in the after-holiday season than on holiday season? I've never seen that, must be an all-time first! Oh wait...

And surely the expenses related to wafer allocation for chips released very late or in Q2 and whose revenue will not really show up until next quarter surely has nothing to do with the higher expenses and lower revenue either.

And there's no loss anywhere, so your post is FAIL. Christian is not trying to hide any loss since there's none. Maybe if you could read... But well that is an argument I can agree with: maybe if the charts were bigger people like you would be able to actually read them and stupid posts could be avoided.
Posted on Reply
#19
NuclearRussian
by: Benetanegia
OMG a company doing worse in the after-holiday season than on holiday season? I've never seen that, must be an all-time first! Oh wait...

And surely the expenses related to wafer allocation for chips released very late or in Q2 and whose revenue will not really show up until next quarter surely has nothing to do with the higher expenses and lower revenue either.

And there's no loss anywhere, so your post is FAIL. Christian is not trying to hide any loss since there's none. Maybe if you could read... But well that is an argument I can agree with: maybe if the charts were bigger people like you would be able to actually read them and stupid posts could be avoided.
My bad, I should clarify that - loss of profit, not overall loss. As in, lower Q/Q profits by 47.9% I admit that part might create some confusion, but my point was that although in most other TPU press release articles the net income is stated along with the revenue right off the bat, it wasn't here, and not everyone would bother looking at the tables. Just a suggestion to put it along along with the revenue, that is all.

And then NV fanboyz arrived and...things went downhill (not you Benetanegia)
Posted on Reply
#20
Benetanegia
by: NuclearRussian
My bad, I should clarify that - loss of profit, not overall loss. As in, lower Q/Q profits by 47.9% I admit that part might create some confusion, but my point was that although in most other TPU press release articles the net income is stated along with the revenue right off the bat, it wasn't here, and not everyone would bother looking at the tables. Just a suggestion to put it along along with the revenue, that is all.

And then NV fanboyz arrived and...things went downhill (not you Benetanegia)
Afaik these kind of reports are sent by the companies themselves and posted "as is". No edits by the news editor/poster, just copy/paste. So you are shooting the messenger, that was my point.

And when it comes to the results, they are not bad. Maybe not very good either but are up when compared to last year's Q1 results. Q4 is usually the strongest quarter for nearly every company. For Nvidia Q4 is even slightly better and Q1 even worse since their Q4 ends in January so Q1 also excludes the January-sales. And like I said they are introducing many chips now that will not be reflected until Q2.
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#21
okidna
Just for information, their shares has jumped 9% after this announcement.
Posted on Reply
#22
HumanSmoke
by: okidna
Just for information, their shares has jumped 9% after this announcement.
Hardly surprising. Nvidia almost always exceeds analysts (and Charlie D's) forecasts
54.5% drop in net income QoQ forecast from the "guys who supposedly know things"
47.9% actual drop in net income QoQ

Strange that the guesswork piece is longer than the item dealing with the actuality. Maybe the forecasters get paid by the word- like pulp fiction SF writers in the 30's and 40's.
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#23
jihadjoe
by: HumanSmoke
Strange that the guesswork piece is longer than the item dealing with the actuality. Maybe the forecasters get paid by the word- like pulp fiction SF writers in the 30's and 40's.
That's not strange at all. A forecaster putting out figures has to show his reasoning behind those figures to give them any credibility. Sort of like, 'think xxx will happen, because yyy and zzz and abc.'

When the actual, factual figures come in all that has to be done is put them in a nice table and say 'well, here's what actually happened.'
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#24
Clubber_Lang
Could the loss in profit also be because there are a lot of people who tend to buy stuff like this towards the holidays....and not spring time / summer time?

I know I fall into that category. I get so busy with life , practicing on my motocross bike , yard work , running , flying planes.....just a lot of stuff. Hell , I'm hardly ever home over the months of April - November. Couldn't take advantage of that big ol' nice video card even if I wanted to.

Don't think I'll be buying much PC stuff until about Novemeber- Dec.

Just my $.02 here anyways.
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