Expects gross margin to be in the range of 44 to 45% for Q1
Nvidia has reported revenue of $982.5m for the fourth quarter of fiscal 2010, more than double compared to $481.1m in the same period a year ago. Revenues increased 9% sequentially.
The company’s gross margin increased to 44.7% from 43.4% for the third quarter of fiscal 2010 and 29.4% in the same period last year. Operating income for the quarter increased to $134.28m from operating loss of $175.08m for the same period a year ago.
For the fourth quarter ended January 31, 2010, the company posted a net income of $131.1m, or $0.23 per diluted share compared to a loss of $147.7m, or $0.27 per share, in the same period a year earlier.
For full fiscal year 2010, the company reported revenue of $3.3bn, a decrease of 3%, compared to $3.4bn for the fiscal year ended Jan. 25, 2009. Operating loss was $98.9m compared to $70.7m. Net loss was $68m, or $0.12 per share compared to a loss of $30m, or $0.05 per share in the last fiscal.
Jen-Hsun Huang, president and chief executive officer of Nvidia, said: Nvidia’s business continued to accelerate in the fourth quarter, with strong demand in our PC and workstation markets. While the yield of chips made using the latest 40nm process has improved significantly, demand continues to exceed our constrained supply.
“Looking ahead this year, we are excited to raise the bar again with our next-generation Fermi GPU architecture; our Tegra mobile processor will enable a new class of amazing mobile devices like tablets; and our 3D Vision glasses and accompanying technology will bring a whole new dimension to personal computing.
Nvidia anticipates revenue to be flat from the fourth quarter to the first quarter of fiscal 2011, gross margin is expected to be in the range of 44 to 45%. Operating expenses for the first quarter of fiscal 2011 are expected to be flat at approximately $305m.