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"We are very proud to have achieved our first billion dollar quarter. And, while it is a wonderful milestone to reach, we believe this is just the beginning," said NVIDIA President and CEO Jen-Hsun Huang.   (Source: NVIDIA)
NVIDIA records revenue of $1.12 billion USD for 2008 fiscal third quarter





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2008?
By Polynikes on 11/8/2007 8:56:26 PM , Rating: 2
quote:
NVIDIA records revenue of $1.12 billion USD for 2008 fiscal third quarter

Uh, what?




RE: 2008?
By retrospooty on 11/8/2007 9:08:29 PM , Rating: 2
fiscal quarter, its an accounting thing. A company has their own timetable, most are ahead of real calendar time.

I can tell you have nver had a corp. job - lucky, stay that way if you can.


RE: 2008?
By HaZaRd2K6 on 11/8/2007 10:42:56 PM , Rating: 2
Like retrospooty said, it's an accounting thing. A fiscal year does not correlate to the calendar year, and judging from the article, nVidia's fiscal year runs from 1 February (i.e. "New Year's Day" for the fiscal year) until 31 January (i.e. "New Year's Eve" for the fiscal year).

Therefore, when Q1'08 started it was 1 February 2007, and Q4'07 ended on 31 January 2007. It's not that complicated, really, but I have a feeling I really botched the explanation. Just Google it :P


RE: 2008?
By Polynikes on 11/9/2007 12:46:49 AM , Rating: 2
No, I understand the concept, I just don't understand WHY they do it. Why change the date? It's not like Nvidia started doing their accounting a year before they existed.


RE: 2008?
By retrospooty on 11/9/2007 9:58:20 AM , Rating: 2
why... That is a good question. I have no clue why, it really doesn't make any sense to me. I would assume it much easier to just use std calendar and quarters.


RE: 2008?
By Houdani on 11/9/2007 10:16:47 AM , Rating: 2
IANABC (bean counter), but I'd wager the IRS has a hand in mixing up the fiscal years for businesses so that tax filings are sprinkled throughout the year. This makes the IRS' job more manageable since they won't be swamped as they would if everyone filed at the same time.


RE: 2008?
By KeithTalent on 11/9/2007 10:24:50 AM , Rating: 2
No, the IRS does not dictate (unless you are in trouble with them). Most of the time a company sets its year-end for when it is most beneficial to them.

For example if you know the July-September period is your company/industry's strongest time of year, then you will most likely set your year-end for September so you can close out the year with stronger earnings.

A company does need to chose it carefully though because changing your year-end can be a real pain.

KT


RE: 2008?
By KeithTalent on 11/9/2007 10:18:58 AM , Rating: 3
It's like an NHL or NBA season. It is determined by when the financial year ends.

My company is in Fiscal 2008 right now and we have been for about 8 months.

It makes perfect sense to me, but then I'm an accountant. :)


RE: 2008?
By iFX on 11/9/2007 10:45:38 AM , Rating: 2
They aren't changing the date, they are using their OWN calendar.


RE: 2008?
By omnicronx on 11/9/2007 10:58:18 AM , Rating: 2
quote:
fiscal quarter, its an accounting thing. A company has their own timetable, most are ahead of real calendar time.
..Tell me about it, my company works on a 13 period fiscal year..


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