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NVIDIA fiscal third-quarter sales beat estimates

Posted on Friday, August 10 2012 @ 09:38:42 CEST by

NVIDIA announced fiscal third-quarter 2013 revenue of $1.04 billion with earnings coming in at $119 million, or 19 cents per share. Analysts polled by Bloomberg anticipated the firm would report earnings per share of 14 cents on sales of $1.01 billion, and NVIDIA's revenue forecast for the period ending in October is $1.15 billion to $1.25 billion, also better than the $1.09 billion consensus from analysts.
NVIDIA (NASDAQ: NVDA) today reported revenue of $1.04 billion for the second quarter of fiscal 2013 ended July 29, 2012.

"Our investments in mobile computing and visual computing are both paying off," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "Tegra has achieved record sales as tablets come into their own. Our GPU business made strong gains in a weak market, boosted by our breakthrough Kepler architecture. Looking ahead, we're optimistic, as our investments position us right at the center of the fastest growing segments of computing."

Our outlook for the third quarter of fiscal 2013 is as follows:
  • Revenue is expected to be between $1.15 billion and $1.25 billion.

  • GAAP and non-GAAP gross margins are expected to be flat relative to the prior quarter, at 51.8 percent and 52.0 percent, respectively.

  • GAAP operating expenses are expected to be approximately $390 million; non-GAAP operating expenses are expected to be approximately $350 million.

  • GAAP and non-GAAP tax rates are expected to be approximately 20 percent, plus or minus one percentage point, excluding any discrete tax events that may occur during the quarter, which, if realized, may increase or decrease our third quarter GAAP and non-GAAP tax rates. If the U.S. research tax credit is reinstated into tax law, we estimate our annual effective tax rate for the fiscal year 2013 to be approximately 16 percent.

    We estimate depreciation and amortization for the third quarter to be approximately $57 million to $59 million. Capital expenditures are expected to be in the range of $30 million to $40 million.

    Diluted shares for the third quarter are expected to be approximately 630 million.

    Second Quarter Fiscal 2013 and Recent Highlights:
  • Google announced that Tegra 3 powers its Nexus 7 tablet -- a fully-fledged tablet priced at just $199 -- which is the first device to run Jelly Bean, the latest version of Android.

  • Microsoft announced that Tegra® is the processor powering the company's Surface for Windows RT tablet.

  • Kepler drove market share gains in the notebook market as OEMs announced Kepler-based notebooks. Among the products announced were new notebooks from Apple, Samsung, Dell, HP, Asus, Acer, Lenovo, and Sony.

  • At its third annual GPU Technology Conference, NVIDIA launched cloud computing technologies for consumers and enterprise customers, which represent new business opportunities for the company. These leverage original software and new Kepler™ features to deliver virtualized GPUs.



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