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NVIDIA Reports Operating Results for the Fourth Quarter and Fiscal Year 2004

 
 

NVIDIA Corporation:

Andrew Humber
European PR Manager
NVIDIA Ltd
ahumber@nvidia.com

Press Relations:

Ciarán Brennan or Clive Gorman
Bastion (NVIDIA PR)
Tel: +44 (20) 7490 1323
clive@bastion.co.uk

FOR IMMEDIATE RELEASE

NVIDIA Reports Operating Results for the Fourth Quarter and Fiscal Year 2004

SANTA CLARA, CA. – February 12, 2004 – NVIDIA® Corporation (Nasdaq: NVDA) today reported financial results for the fourth quarter of fiscal 2004 and the fiscal year ended January 25, 2004.

For the fourth quarter of fiscal 2004, revenue increased to $472.1 million, compared to $469.0 million for the fourth quarter of fiscal 2003. Net income for the fourth quarter of fiscal 2004 was $24.2 million, or $0.14 per diluted share, compared to net income of $50.9 million, or $0.30 per diluted share, for the fourth quarter of fiscal 2003.

Revenue for the fiscal year ended January 25, 2004 was $1.82 billion, compared to revenue of $1.91 billion for the fiscal year ended January 26, 2003. Net income for the fiscal year ended January 25, 2004 was $74.4 million, or $0.43 per diluted share, compared to net income of $90.8 million, or $0.54 per diluted share, for the fiscal year ended January 26, 2003.

“Our goals this year are to extend our GPU and MCP leadership, drive gross margin improvements, and bring innovative products and strategies that make a significant impact within each of the segments we serve,” stated Jen-Hsun Huang, president and CEO of NVIDIA.

Huang added, “The products we now build span the computing, consumer electronics and handheld segments. All of these segments are being transformed by digital media and networking. We believe the GPU and MCP are the engines that will power computing and consumer electronics in the ‘networked digital entertainment’ era.”

About NVIDIA
NVIDIA Corporation is a market leader in visual computing technology dedicated to creating products that enhance the interactive experience on consumer and professional computing platforms. Its graphics and communications processors have broad market reach and are incorporated into a wide variety of computing platforms, including consumer digital-media PCs, enterprise PCs, professional workstations, digital content creation systems, notebook PCs, military navigation systems and video game consoles. NVIDIA is headquartered in Santa Clara, California and employs more than 1,800 people worldwide. For more information, visit the Company’s Web site at www.nvidia.co.uk.

Certain statements in this press release, including any 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 "Certain Business Risks," for a fuller discussion of these and other risks and uncertainties.

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Copyright © 2004 NVIDIA Corporation. All rights reserved. All company and/or product names may be trade names, trademarks and/or registered trademarks of the respective owners with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

Note to editors: If you are interested in viewing additional information on NVIDIA, please visit the NVIDIA Press Room at http://www.nvidia.co.uk/page/press_room.html.



 
 
 
 
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