NVIDIA Corporation reported financial results for the third quarter of fiscal 2008 ended October 28, 2007.
For the third quarter of fiscal 2008, revenue increased to a record $1.12 billion compared to $820.6 million for the third quarter of fiscal
2007, an increase of 36 percent. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the third quarter of fiscal 2008 was a record $235.7 million, or $0.38 per diluted share, an increase of 121 percent compared to the third quarter of fiscal 2007. GAAP gross margin improved by 550 basis points from a year ago to a record 46.2
Non-GAAP net income for the third quarter of fiscal 2008, which excludes stock-based compensation charges and the associated tax impact, was $264.2 million, or $0.44 per diluted share, an increase of 77 percent compared to the third quarter of fiscal 2007. Non-GAAP gross margin improved to a record 46.4 percent, an increase of 350 basis points from a
For the nine months ended October 28, 2007, revenue increased to a record $2.90 billion compared to $2.19 billion for the nine months ended October 29, 2006, an increase of 32 percent. GAAP net income for the nine months ended October 28, 2007 was $540.7 million, or $0.89 per diluted share, compared to $285.3 million, or $0.50 per diluted share, for the nine months ended October 29, 2006.
Non-GAAP net income for the nine months ended October 28, 2007, which excludes stock-based compensation charges and the associated tax impact was $626.7 million, or $1.06 per diluted share, compared to $372.3 million, or
$0.66 per diluted share, for the nine months ended October 29, 2006.
“We are very proud to have achieved our first billion dollar quarter. And, while it is a wonderful milestone to reach, we believe this is just
the beginning,” said Jen-Hsun Huang, president and CEO of NVIDIA. “Our core businesses are continuing to grow as the GPU becomes increasingly central to today’s computing experience in both the consumer and professional
Mr. Huang added: “This is the era of visual computing and NVIDIA is at the forefront. People want a delightful, compelling experience when they
interact with their computing devices, whether it’s on a phone, notebook, game console, or workstation. NVIDIA is leading the way in making this experience more intuitive and rewarding through our relentless pace of innovation and focus on execution.”
Third Quarter Fiscal 2008 and Recent Highlights:
— As the first GPU company to reach the $1 billion quarter level, NVIDIA continues to be one of the fastest growing semiconductor technology companies in the world.
— The GeForce desktop and notebook GPU product lines each achieved record revenue. The desktop GPU product line grew 33 percent year-over-year and the notebook GPU product line grew 120 percent year-over-year.
— NVIDIA shipped its first-ever single-chip motherboard GPUs (mGPUs) for Intel-processor-based desktop PCs – the NVIDIA GeForce 7000 mGPU family. The GeForce 7000 mGPU family delivers the performance of an entry-level discrete GPU when compared against traditional integrated graphics solutions.
— NVIDIA launched the new GeForce 8800 GT GPU, which combines best-of-class gaming performance and HD playback at the $199 price point.
— The Quadro Professional Solutions Business achieved record revenue, growing 37 percent year-over-year. NVIDIA launched seven
new Quadro solutions during the third quarter of fiscal 2008, most notably the Quadro FX 370 and 570, which deliver ISV-certified hardware at the sub-$200 price point.
— NVIDIA began shipments of the TeslaC870 GPU computing processor and D870 desk-side supercomputer products during the third quarter of fiscal 2008. The adoption of Tesla and the CUDA C-language programming environment and tool suite continues to accelerate.