Nvidia Posts Tripled Q1 Income
Online staff -- Electronic News, 5/22/2002
e-insite.net
Nvidia Corp. today posted its fiscal first quarter results and said it has tripled its net income over the last year, thanks to strong sales of games consoles and computers using its graphics chips.
The Santa Clara, Calif.-based company posted net income of $83.2 million, or 47 cents per diluted share, for the quarter ending April 28. This compares to net income of $26.7 million, or 16 cents per share, in the year-ago quarter. Revenue increased by 142 percent to $582.9 million from $240.9 million in the fiscal first quarter of 2002. Sequentially, revenues increased by more than 15 percent, from $218.2 million.
"During the quarter we entered a new product cycle, and delivered a number of groundbreaking products in each of our core markets," said Jen-Hsun Huang, president and CEO of Nvidia, in a statement. "Our nForce platform processors continue to gain momentum and are now the standard core logic for Athlon-based OEM systems worldwide."
Nvidia beat the consensus forecast from First Call Corp., which called for earnings of 46 cents per share on revenue of $575 million. |
