Just yesterday, ASUS announced the first-ever quad-core tablet , packing NVIDIA’s Tegra 3 SoC , and now the chipmaker is making a press release of its own. It can be a marginally less exciting reveal, but NVIDIA’s just taken the wraps off of its Q3 earnings, and it sounds as if things are looking up — revenue is up 4.9 percent over last quarter to $1.07 billion from $1.02 billion and up 26.3 percent from last year. The corporate also reported a rise in net income, raking in $178.3 million for Q3 2011, up from $151.6 million last quarter and $84.9 million last year. The company’s CEO, Jen-Hsun Huang, unsurprisingly attributed the expansion to the mobile market in addition to the outfit’s GPU business, and continued to boast of future good times, riding the quad-core wave. For more details, check the whole PR after the break.
SANTA CLARA, CA — (Marketwire) — 11/10/2011 — NVIDIA (NASDAQ: NVDA)
-Revenue increased 4.9 percent to $1.07 billion from $1.02 billion within the previous quarter.
-GAAP net income was $178.3 million, or $0.29 per diluted share; non-GAAP net income was $217.0 million, or $0.35 per diluted share.
-GAAP gross margin increased to 52.2 percent; non-GAAP gross margin increased to 52.5 percent from the second one quarter’s 51.9 percent. Both are records for the fifth consecutive quarter.
NVIDIA (NASDAQ: NVDA) today reported revenue of $1.07 billion for the third quarter of fiscal 2012 ended Oct. 30, 2011, up 4.9 percent from the prior quarter, and up 26.3 percent from $843.9 million within the same period a year earlier.
On a GAAP basis, the corporate recorded net income of $178.3 million, or $0.29 per diluted share, for the third quarter of fiscal 2012. That compares with net income of $151.6 million, or $0.25 per diluted share, inside the prior quarter and $84.9 million, or $0.15 per diluted share, inside the same period a year earlier.
On a non-GAAP basis — which excludes stock-based compensation, amortization of acquisition-related intangible assets, other acquisition related costs, and the tax impact linked to this stuff — net income was $217.0 million, or $0.35 per diluted share. That compares with net income of $193.5 million, or $0.32 per diluted share, within the prior quarter, and net income of $117.4 million, $0.20 per share, inside the same period a year earlier.
GAAP gross margin was 52.2 percent, a fifth consecutive record, compared with 51.7 percent inside the previous quarter and 46.5 percent within the same period a year earlier. Non-GAAP gross margin, at 52.5 percent, was also a record, and compares with 51.9 percent within the prior quarter and 46.8 percent inside the same period a year earlier.
“NVIDIA’s strategy is getting into its own, because the world becomes increasingly visual and mobile,” said Jen-Hsun Huang, president and chief executive of NVIDIA. “Our GPU business accelerated inside the third quarter, driven by strong demand from gamers and the pro market. And our mobile business benefited from new devices coming onto the market. With Tegra 3 phone wins well earlier than Tegra 2′s pace, we’re expecting strong growth within the year ahead.”
Outlook
Our outlook for the fourth quarter of fiscal 2012 is as follows:
-Revenue is anticipated to be relatively flat, plus or minus two percent, from the third quarter.
-GAAP and non-GAAP gross margins are expected to be flat to up 0.5 percentage points from the respective GAAP and non-GAAP gross margins within the third quarter.
-GAAP operating expenses are expected to be approximately $372 million; non-GAAP operating expenses are expected to be approximately $330 million.
-Our GAAP and non-GAAP tax rates are both expected to be between 14 to 16 percent, excluding any discrete tax events that can occur within the quarter.
We estimate depreciation and amortization for the fourth quarter to be approximately $53 million to $57 million. Capital expenditures are expected to be within the range of $30 to $40 million.
Diluted shares for the fourth quarter are expected to be approximately 618 million.
Third Quarter Fiscal 2012 and up to date Highlights:
-NVIDIA launched Tegra 3, the world’s first quad-core processor for super phones and tablets, bringing PC-class performance levels to tablets and phones. Simultaneously, Asus announced that its Eee Pad Transformer Prime, the primary device in keeping with Tegra 3, could be available worldwide in December.
-Further, NVIDIA and its partners added three more Tegra®-based superphones to the eight already available — LG Optimus EX, LG Optimus BQ and Motorola Electrify. Additionally they added 13 new tablets, bringing the complete to 23. New models include the Asus Slider, Sony Tablet S, Sony Tablet P, Toshiba Scorpio 7″, Acer Iconia A100, Sharp Galapagos E-Reader, Dell Streak 10, Lenovo ThinkPad, and Samsung’s Galaxy Tab 8.9.
-NVIDIA Tesla processors were chosen by Oak Ridge National Laboratory, with the intention to deploy 18,000 of them in its new machine, “Titan,” expected to be the world’s fastest supercomputer, with the possible to deliver speeds of over 20 petaflops.
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