Friday, February 14, 2003
Nvidia Corp. on Thursday reported $50.9 million in net income for the fiscal fourth quarter ended Jan. 26, down 34% from $76 million in the same period a year ago.
Net income for the fiscal year was $90.8 million, down 48% from $176.9 million for the similar period a year earlier.
The Santa Clara, Calif., graphics chips maker reported total revenue for the fourth quarter of $468.9 million, down from $503.7 million for the year-ago period. Fiscal year sales were $1.91 billion, up from $1.37 billion for the previous fiscal year.
Marvin Burkett, chief financial officer, said fourth quarter sales included $40.4 million in additional revenue gained as a result of Nvidia's arbitration settlement of the dispute with Microsoft Corp. over pricing of chips for the Xbox game console.
He said that at the end of the fourth quarter the firm had $1.03 billion in cash and marketable securities on hand, up from $911 million at the end of the previous period.
President and Chief Executive Jen-Hsun Huang said after the delays in bringing the firm's next generation GeForce FX graphics processor to market, Nvidia expected to ship 1.5 million units by the end of the first quarter. He said production of the new chip on 0.13-micron processing with copper interconnect proved more difficult than expected, but these difficulties have now been overcome.
The GeForce FX is now Nvidia's high-end processor, but Huang said the graphics core will be migrated in the future throughout all price point processors and its integrated nForce 2 chipset.
By: DocMemory
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