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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

After hearing quarterly earnings reports from Intel, AMD, Apple and Microsoft, it's now time to hear what's shaking from the guys in Santa Clara, California. NVIDIA today reported that it brought in a record revenue of $1.12 billion USD for the 2008 fiscal third quarter which ended on October 28, 2007.

"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. "Our core businesses are continuing to grow as the GPU becomes increasingly central to today's computing experience in both the consumer and professional market segments."

The $1.12 billion USD tally marks the first time that a GPU company crossed the $1 billion USD threshold. NVIDIA also recorded net income of $235.7 million USD which represented a 121 percent increase year-over-year.

Total revenue for NVIDIA thus far through fiscal 2008 is $2.90 billion USD, while net income stands at $540.7 million USD. This compares with $2.19 billion USD and $285.3 million USD respectively for the first nine months of fiscal 2007.

"This is the era of visual computing and NVIDIA is at the forefront. People want a delightful, compelling experience when they interact with their computing devices, whether it's on a phone, notebook, game console, or workstation," Huang added. "NVIDIA is leading the way in making this experience more intuitive and rewarding through our relentless pace of innovation and focus on execution."

NVIDIA attributes the record quarter to a 33 percent increase in desktop GPU products and a 120 percent increase in mobile GPU products. Other star performers included NVIDIA's Quadro family of professional graphics processors and the new Tesla desk-side supercomputer products.

The news on the NVIDIA front has been pretty fierce over the past week. NVIDIA first set tongues wagging with the announcement of the GeForce 8800 GT. The GPU, which is based on 65nm G92 architecture is priced from $199 to $249 and brings back memories of the NVIDIA GeForce 4 Ti 4200 and Radeon 9800 on a performance-per-dollar basis.

Many in the hardware community let out a collective yawn when NVIDIA announced its new Enthusiast System Architecture (ESA). ESA aims to give enthusiasts control over a wide gamut of hardware components through a centralized software app.

More news on upcoming NVIDIA GPUs was also revealed by DailyTech earlier today. The company is set to unleash yet another 65nm variant of the 8800 GTS making for some very confused enthusiasts this holiday season.

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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.


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.

"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken

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