Press release: NVIDIA Reports Record Revenues and Earnings for Fourth Quarter and Fiscal Year 2001
Date : 2001-02-15
SANTA CLARA, CA—February 14, 2001—NVIDIA® Corporation (Nasdaq: NVDA) today reported record revenues and earnings for the fourth quarter of fiscal 2001 and the year ended January 28, 2001.
For the fourth quarter of fiscal 2001, revenues increased to $218.2 million, compared to $128.5 million for the fourth quarter of fiscal 2000, an increase of 70 percent. Operating income for the fourth quarter of fiscal 2001 was $39.1 million, compared to $20.8 million in the fourth quarter of fiscal 2000. Net income for the fourth quarter of fiscal 2001 was $31.1 million, or $0.38 per diluted share, compared to $14.6 million, or $0.19 per diluted share for the fourth quarter of fiscal 2000, an increase of 113 percent. Diluted shares increased to 80.9 million in the fourth quarter of fiscal 2001 as compared to 75.1 million in the fourth quarter of fiscal 2000.
Revenues for the year ended January 28, 2001, were $735.3 million, an increase of 96 percent compared to revenues of $374.5 million for the year ended January 30, 2000. Operating income for the year ended January 28, 2001, was $130.3 million compared to $54.4 million for the year ended January 30, 2000. Net income for the year ended January 28, 2001 was $99.9 million, an increase of 162 percent compared to net income of $38.1 million for the year ended January 30, 2000. Diluted net income per share for the year ended January 28, 2001 was $1.25, compared to a diluted net income per share of $0.53, for the year ended January 30, 2000.
"2000 was characterized by our terrific growth and the many important achievements of our people. Because of their dedication, passion for innovation, and intense focus on execution, we were able to achieve technology and market leadership in our core GPU business, as well as lay the foundation for strong growth in 2001 and beyond," stated Jen-Hsun Huang, president and CEO of NVIDIA. "Our GeForce2 family of GPUs revolutionized the computing experience and once again set new standards in 3D realism. Our entries into the Mac, mobile, and workstation markets were met with great enthusiasm. Microsoft chose NVIDIA to develop breakthrough 3D, multimedia, and networking technologies for the highly anticipated Xbox. The XGPU graphics processor and the MCPX multimedia communications processor are both in fab and set for launch in what should be an exciting Christmas season. We will leverage the Xbox architecture to build a family of products for value PCs and Internet appliances. Our accomplishments and investments last year have positioned us to deliver innovative products that enable the digital lifestyle and will continue to fuel our growth. In summary, we are pleased with our results for this past year and excited about the future for NVIDIA."
For more financial information, please access the investor relations\' portion of NVIDIA\'s web site at http://www.nvidia.com.
NVIDIA Corporation (Nasdaq: NVDA), based in Santa Clara, California, is the global leader in advanced graphics and multimedia processing technology for the consumer and professional computing markets. Its 2D, 3D, video and multimedia capabilities make NVIDIA one of the premier semiconductor companies in the world. NVIDIA offers a wide range of products and services, delivering superior performance and crisp visual quality for PC-based applications such as manufacturing, science, e-business, entertainment, and education.
Certain statements in this press release, including the statements relating to the Company\'s performance expectations for NVIDIA\'s family of products and expectations of continued revenue growth, are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, manufacturing and other delays relating to new products, difficulties in the fabrication process and dependence of the Company on third-party manufacturers, general industry trends including cyclical trends in the PC and semiconductor industries, the impact of competitive products and pricing alternatives, market acceptance of the Company\'s new products, and the Company\'s dependence on third-party developers and publishers. Investors are advised to read the Company\'s Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, particularly those sections entitled "Factors Affecting Operating Results," for a fuller discussion of these and other risks and uncertainties.