Friday, May 14th 2010

NVIDIA Reports Financial Results for First Quarter Fiscal 2011

NVIDIA reported revenue of $1.0 billion for the first quarter of fiscal 2011 ended May 2, 2010, up 2 percent from the prior quarter and up 51 percent from $664.2 million in the same period a year earlier. On a GAAP basis, the company recorded net income of $137.6 million, or $0.23 per diluted share, for the first quarter of fiscal 2011. That compares with $131.1 million, or $0.23 per diluted share, in the previous quarter and a net loss of $201.3 million, or $0.37 per share, in the same period a year earlier.

Gross margin increased to 45.6 percent for the first quarter fiscal 2011 from 44.7 percent in the previous quarter and 28.6 percent in the same period a year earlier.
  • Revenue grew 2 percent quarter-on-quarter to $1.0 billion
  • GAAP net income increased to $137.6 million, or $0.23 per diluted share
  • GAAP gross margin improved to 45.6 percent
NVIDIA today reported revenue of $1.0 billion for the first quarter of fiscal 2011 ended May 2, 2010, up 2 percent from the prior quarter and up 51 percent from $664.2 million in the same period a year earlier.

On a GAAP basis, the company recorded net income of $137.6 million, or $0.23 per diluted share, for the first quarter of fiscal 2011. That compares with $131.1 million, or $0.23 per diluted share, in the previous quarter and a net loss of $201.3 million, or $0.37 per share, in the same period a year earlier.

Gross margin increased to 45.6 percent for the first quarter fiscal 2011 from 44.7 percent in the previous quarter and 28.6 percent in the same period a year earlier.



"With our new Fermi-class GPUs in full production, NVIDIA's key profit drivers are fully engaged," said Jen-Hsun Huang, NVIDIA CEO and president. "We shipped a few hundred thousand Fermi processors into strong consumer demand. Our Quadro business for workstations grew strongly, fueled by pent up demand from enterprise customers and new growth markets like video editing. And we had record revenue from Tesla processors for high-end servers. We anticipate continued strength in these businesses over the coming quarters."

Outlook
The outlook for the second quarter of fiscal 2011 is as follows:
  • Revenue is expected to be down seasonally 3 to 5 percent from the first quarter.
  • GAAP gross margin is expected to increase to 46 to 47 percent.
  • GAAP operating expenses are expected to be flat.
  • Tax rate of 12 to 14 percent, assuming a renewal of the U.S. R&D tax credit. Otherwise, tax rate of 14 to 16 percent.
First Quarter Fiscal 2011 Highlights:
  • NVIDIA launched and shipped the GeForce GTX 480 and GeForce GTX 470, the first GPUs based on the company's Fermi architecture.
  • The first phones using NVIDIA's Tegra processors shipped, the KIN ONE and KIN TWO from Microsoft.
  • NVIDIA launched major new stereo 3D technologies, including NVIDIA 3DTV Play and the Quadro Digital Video Pipeline. Epic Games announced that it had incorporated 3D Vision into its popular Unreal Engine 3 game engine.
  • CUDA registered another major success: Adobe started shipping Creative Suite 5 in April. This version of Adobe Premiere Pro exclusively uses CUDA to accelerate the new Adobe Mercury Playback Engine, which allows real-time previews for multi-layer projects.
  • NVIDIA began shipments of the GeForce 320M integrated chipset to Apple for incorporation into the latest 13-inch MacBook Pro. The 320M delivers up to an 80 percent performance increase over the previous GeForce 9400M GPU. In addition, the new 15- and 17-inch MacBook Pro both come standard with the new GeForce GT 330M.
CFO Commentary
Commentary on the quarter by David White, NVIDIA chief financial officer and executive vice president, is available [URL=http://www.nvidia.com/investor[/URL].
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34 Comments on NVIDIA Reports Financial Results for First Quarter Fiscal 2011

#1
remixedcat
They have CUDA workin for them. they will always have CUDA clients in the medical and technical industries.
Posted on Reply
#2
DaedalusHelios
remixedcat said:
They have CUDA workin for them. they will always have CUDA clients in the medical and technical industries.
And Tegra for embedded devices like cellphones. I figure most tech companies in general will start an upward trend for a while TBH. Of course I am talking about those making successful components like Nvidia/AMD/Intel/Foxconn etc.
Posted on Reply
#3
remixedcat
yey for tegra!

can it play crysis????
Posted on Reply
#4
Fourstaff
Speaking of Tegra I have not seen much use of it yet other than in Zune
Posted on Reply
#5
remixedcat
I think a few japanese devices have it. nvidia is prolly keeping them secret.
Posted on Reply
#6
DaedalusHelios
remixedcat said:
I think a few japanese devices have it. nvidia is prolly keeping them secret.
Well it is rather robust. It is very powerful but needs refining for lower power consumption.
Posted on Reply
#7
remixedcat
that's why they have some custom configs.
Posted on Reply
#8
vagxtr
Benetanegia said:
The one thing that we do know with almost certainty is that Nvidia made a first order of 9000 waffers. At around 100 candidates per waffer that's 900.000 total candidates.
how much is waffer these days 6000USD+ w/o testing and so so it's 45+M just for waffer production probably 100M after testing and packing and all thes "900k chips" must find n owner cause they cost 120USD or more ..... failure rate all was lamenting about was stunning below 20% for fully working chips (480SPs) and ever growing tdp :o Anyway nV probably could rescue up to 50% chips to make GTX470 cards and scraped non working 50%+ will go in newly announced littler sis that JH keep on bumping to keep on his sucessful business.

But having 250W TDP graphics is insane for most of us and i hope that will still be true after Fermi fade into obliviousness. 250W+ were reserved only for sandwiched dual chip setup cards in the past
Posted on Reply
#9
remixedcat
250 watt TDP?!!! wow I would need a new PSU for that and that's per card. woah.
Posted on Reply