NVIDIA is the latest tech firm that admits it's hit hard by the economic crisis and low demand, the graphics giant send out a warning to investors today that its fourth quarter of fiscal 2009 revenue will be down 40-50 percent sequentially:
NVIDIA Corporation, the world leader in visual computing technologies, today revised its revenue guidance for its fourth quarter of fiscal 2009 ending January 25, 2009. Revenue for the fourth quarter of fiscal 2009 is expected to be lower than guidance provided during its third quarter fiscal 2009 financial conference call held November 6, 2008. Total revenue for the fourth quarter of fiscal 2009 is now expected to decline 40 percent to 50 percent sequentially as a result of further weakness in end-user demand and inventory reductions by NVIDIA's channel partners in the global PC supply chain.
No conference call will be held in conjunction with this business update. Additional commentary pertaining to the fourth quarter of fiscal 2009 will be available when NVIDIA reports its financial results for the fourth quarter of fiscal 2009 on February 10, 2009. The Company is currently observing the pre-earnings quiet period and will not make further comments about its expected results for the fourth quarter of fiscal 2009 in the interim.