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NVIDIA posts $116 million profit for fiscal Q4 2012

Posted on Wednesday, February 15 2012 @ 23:38:43 CET by


NVIDIA announced a fiscal Q4 2012 profit of $116 million on revenue of $953.2 million. Here are the full details:
NVIDIA (NASDAQ: NVDA)
Revenue for the year increased 12.8 percent over fiscal 2011 to $4.00 billion.
GAAP gross margin for the year was 51.4 percent, up 11.6 percentage points; non-GAAP gross margin was 51.9 percent, up 6.8 percentage points.
GAAP EPS for the year rose 118.6 percent; non-GAAP EPS rose 46.9 percent.
Quarterly revenue decreased 10.6 percent to $953.2 million from $1.07 billion in the previous quarter.
GAAP gross margin was 51.4 percent for the quarter; non-GAAP gross margin was 52.5 percent.
Quarterly GAAP EPS were $0.19, down from $0.29 in the previous quarter; non-GAAP EPS were $0.26, down from $0.35 in the previous quarter.

NVIDIA (NASDAQ: NVDA) today reported revenue for fiscal 2012 ended Jan. 29, 2012 of $4.00 billion, up 12.8 percent from $3.54 billion in fiscal 2011. GAAP earnings per share for the year were $0.94 per diluted share, an increase of 118.6 percent over $0.43 in fiscal 2011. Non-GAAP earnings per share for fiscal 2012 were $1.19, up 46.9 percent over $0.81 in fiscal 2011.

Revenue for the fourth quarter of fiscal 2012 was $953.2 million, down 10.6 percent from the prior quarter, and up 7.5 percent from $886.4 million in the same period a year earlier.

"I am pleased with our achievements last year. Our GPU business grew sharply. And, with the success of Tegra, we established our position in the mobile market," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "We expect continued growth ahead, as Tegra 3 powers a new wave of quad-core super phones and Kepler, our next-generation GPU architecture, sets new standards in visual and parallel computing."

On a GAAP basis, the company recorded net income of $116.0 million, or $0.19 per diluted share, for the fourth quarter of fiscal 2012. That compares with net income of $178.3 million, or $0.29 per diluted share, in the prior quarter and $171.7 million, or $0.29 per diluted share, in the same period a year earlier.

On a non-GAAP basis -- which excludes certain charges or credits, as applicable in the fiscal quarter, and the tax impact associated with such items, including: stock-based compensation, amortization of acquisition-related intangible assets, other acquisition-related costs, and legal settlements -- net income was $158.1 million, or $0.26 per diluted share. That compares with non-GAAP net income of $217.0 million, or $0.35 per diluted share, in the prior quarter, and net income of $142.4 million, $0.24 per share, in the same period a year earlier.

GAAP gross margin was 51.4 percent, compared with 52.2 percent in the previous quarter and 48.1 percent in the same period a year earlier. Non-GAAP gross margin, which excludes stock-based compensation and a legal settlement charge, was 52.5 percent and compares with 52.5 percent in the previous quarter and 48.3 percent in the same period a year earlier.

Outlook
Our outlook for the first quarter of fiscal 2013, is as follows:
Revenue is expected to be between $900 million and $930 million.
GAAP gross margins are expected to be 49.2 percent, plus or minus 1 percentage point; non-GAAP gross margins are expected to be 49.5 percent, plus or minus 1 percentage point.
GAAP operating expenses are expected to be approximately $383 million; non-GAAP operating expenses are expected to be approximately $340 million.
GAAP and non-GAAP tax rates are expected to be approximately 20 percent for the fiscal year 2013; and approximately 16 percent for the year, if the research tax credit is reinstated into U.S. tax law. Our annual projected tax rates reflect our expectation for the quarter, excluding any discrete tax events that may occur, which, if realized, may increase or decrease our GAAP and non-GAAP tax rates.

We estimate depreciation and amortization for the first quarter to be approximately $52 million to $56 million. Capital expenditures are expected to be in the range of $35 to $45 million.

Diluted shares for the first quarter are expected to be approximately 622.5 million.




 



 

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