SANTA CLARA, CAâ€”MAY 8, 2008â€”NVIDIA Corporation (Nasdaq: NVDA), the world leader in visual computing technologies, today reported financial results for the first quarter of fiscal 2009 ended April 27, 2008.
For the first quarter of fiscal 2009, revenue was $1.15 billion, compared to $844.3 million for the first quarter of fiscal 2008, an increase of 37 percent. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the first quarter of fiscal 2009 increased by 34 percent year-over-year to $176.8 million, or $0.30 per diluted share.
Non-GAAP net income for the first quarter of fiscal 2009, which excludes stock-based compensation charges and the associated tax impact, was $211.8 million, or $0.36 per diluted share.
"The growth of GPUs continues to outpace the PC market. We shipped 42 percent more GPUs this quarter compared to the same period a year ago, resulting in our best first quarter ever," said Jen-Hsun Huang, president and CEO of NVIDIA. "This is the era of visual computing. With a few hundred million GeForce GPUs in the market, developers can now confidently create applications with dazzling graphics. Amazing applications with beautiful graphics are showing up on the Web constantly, driving even faster adoption of GPUs. We expect this positive feedback loop to continue to drive our growth."
* Revenue grew 37 percent year-over-year.
* GAAP net income increased 34 percent year-over-year.
* Launched multiple industry-leading products:
o GeForceÂ® 9600 GT GPU: More than double the performance of the previous 8600 GTS.
o GeForce 9800 GX2: New dual GPU board featuring Quad SLIÂ® technology.
o GeForce 9800 GTX: Most flexible GPU to support both two-way and three-way SLI technology.
o GeForce 8800 GT for the Mac Pro: First after-market consumer graphics card for the Mac sold directly by NVIDIA.
o NVIDIA nForceÂ® 790i Ultra SLI MCP: Industryâ€™s most overclockable platform for Intel processors.
o QuadroÂ® FX 3600M Professional: Industryâ€™s highest-performance notebook GPU.
o NVIDIAÂ® APX 2500 Application Processor: Worldâ€™s lowest-power, high-definition computer-on-a-chip.
* The Professional Solutions Business achieved record revenue, growing 44 percent year-over-year.
* Shipped first Hybrid SLI DX10 motherboard GPUs â€“ the GeForce 8000 GPU series. The GeForce 8000 GPU series includes GeForce Boost Hybrid SLI technology, which can double performance when paired with a GeForce 8 desktop GPU.
* Became a founding member of Stanford Universityâ€™s new Pervasive Parallelism Lab (PPL). The PPL will develop new techniques, tools, and training materials to allow software engineers to harness the parallelism of the heterogeneous multi-core computing available in virtually every new computer.