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NVIDIA Announces Two-For-One Stock Split and $400,000,000 Increase in Stock Repurchase Program

 
 

NVIDIA Corporation:

Adam Foat Product PR Manager, UK and Northern Europe
NVIDIA Ltd
afoat@nvidia.com
+44 (0)118 903 3019

Press Relations:

James Delves
Wildfire PR
Tel: +44 (0)20 8339 4426
nvidia@wildfirepr.co.uk

FOR IMMEDIATE RELEASE

NVIDIA Announces Two-For-One Stock Split and $400,000,000 Increase in Stock Repurchase Program

SANTA CLARA, CA—MARCH 6, 2006—NVIDIA Corporation (Nasdaq: NVDA) today announced that its Board of Directors has approved a two-for-one stock split of the Company’s outstanding shares of common stock to be effected in the form of a 100% stock dividend. NVIDIA also announced that its Board has approved an increase in the Company’s existing share repurchase program.

Stock Split
The stock split will entitle each stockholder of record at the close of business on Friday, March 17, 2006 to receive one additional share for every outstanding share of common stock held. The additional shares resulting from the stock split are expected to be distributed by the transfer agent on or about Thursday, April 6, 2006. Upon the completion of the stock split, NVIDIA will have approximately 360 million shares of common stock outstanding.

Stock Repurchase Program
The Company also announced a $400,000,000 increase to the original stock repurchase program it announced in August 2004. As a result of this increase, the amount of common stock the Board of Directors has authorized to be repurchased has now been increased to a total of $700,000,000, of which the Company has purchased approximately $263,000,000.

The repurchases will be made from time to time in the open market, in privately negotiated transactions, or in structured share repurchase programs, in compliance with the Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other factors. The program does not obligate NVIDIA to acquire any particular amount of common stock and the program may be suspended at any time at the Company’s discretion. The purchases will be funded from available working capital. As of January 29, 2006, NVIDIA had over $950,000,000 of cash, cash equivalents, and marketable securities.

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 2,000 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 © 2006 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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