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NVIDIA Reports Record Results for Fourth Quarter and Fiscal Year 2007

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#1
SANTA CLARA, CA—FEBRUARY 13, 2007—NVIDIA Corporation (Nasdaq: NVDA) today reported financial results for the fourth quarter of fiscal 2007 and the fiscal year ended January 28, 2007.

For the fourth quarter of fiscal 2007, revenue increased to a record $878.9 million, compared to $633.6 million for the fourth quarter of fiscal 2006, an increase of 39 percent. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of fiscal 2007 was $163.5 million, or $0.41 per diluted share, compared to net income of $97.4 million, or $0.26 per diluted share, for the fourth quarter of fiscal 2006, a net income increase of 68 percent.

Non-GAAP net income for the fourth quarter of fiscal 2007, which excludes a charge for in-process research and development related to our acquisition of PortalPlayer, Inc., plus SFAS 123R and other stock-based compensation charges and the associated payroll tax impact, was $205.6 million, or $0.53 per diluted share.

Revenue for the fiscal year ended January 28, 2007 was a record $3.07 billion, compared to revenue of $2.38 billion for the fiscal year ended January 29, 2006, an increase of 29 percent. GAAP net income for the fiscal year ended January 28, 2007 was $448.8 million, or $1.15 per diluted share, compared to GAAP net income of $301.2 million, or $0.82 per diluted share, for the fiscal year ended January 29, 2006, a net income increase of 49 percent.

Non-GAAP net income for the fiscal year ended January 28, 2007, which excludes a charge for in-process research and development related to the acquisition of Portal Player, Inc., a one-time charge associated with licensing certain patents, plus SFAS 123R and other stock-based compensation charges and the associated payroll tax impact, was $577.9 million, or $1.50 per diluted share.

"Fiscal 2007 was an outstanding year," stated Jen-Hsun Huang, president and CEO of NVIDIA. "Our record year is a result of intense focus on building market-defining products and financial performance. We established the number one position in multiple categories - desktop GPUs, notebook GPUs, workstation GPUs, and AMD chipsets. Most importantly, we significantly enhanced our strategic position in the markets we serve."

"Looking ahead into fiscal 2008, we expect multiple growth drivers - driving deeper into the Intel segment with our branded motherboard GPUs, delivering our first application processor for the handheld market, and launching the ‘GPU Computing’ era with GPUs designed to dramatically accelerate high-performance computing. This is the year the industry ramps three very new applications that are enhanced with our GPUs - Vista, DX10, and HD/Blu-ray DVD. It is exciting that the GPU is becoming an increasingly central part of our computing experience," added Mr. Huang.

Fourth Quarter Fiscal 2007 Highlights:
  • Non-GAAP gross margin reached a Company record of 44.2 percent, an increase of 130 basis points sequentially from the third quarter of fiscal 2007, and 400 basis points year-over-year. GAAP gross margin was 43.9 percent.
  • NVIDIA extended its leadership share position in the notebook graphics processing unit (GPU) segment to 58 percent share, according to the Mercury Research Fourth Quarter 2006 PC Graphics Report. Notebook GPU revenue grew over 120 percent year-over-year.
  • The NVIDIA nForce® MCP product line achieved record revenue for its tenth consecutive quarter. NVIDIA nForce MCP revenue grew 16 percent sequentially from the third quarter of fiscal 2007 and 89 percent year-over-year.
  • The NVIDIA Quadro® professional product line achieved record revenue with a 24 percent revenue increase from the fourth quarter of fiscal 2006.
  • NVIDIA announced the latest version of its Preface™ Personal Media Display platform, a secondary processor and display subsystem that enables users to access information from their notebook or PC, even when the main system is powered down.
  • The National Academy of Television Arts and Science recognized the Company’s innovation in graphics processor development with a Technology and Engineering Emmy Award at the Consumer Electronics Show (CES) held in January 2007.
  • NVIDIA completed its acquisition of PortalPlayer, Inc., a leading supplier of semiconductors, firmware, and software for personal media players and secondary display-enabled computers.
Source: NVIDIA
 

PVTCaboose1337

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#2
Not a surprise at all...
 

Saurian

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#3
All that money and they couldn't bring a WQHL G80 driver to release on Vista's already pushed back launch date.
 

WarEagleAU

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#4
Nice to see they are making a profit. Of course, the outrageous costs of these video cards have to help.