For the second quarter of fiscal 2006, revenue was $574.8 million, compared to $456.1 million for the second quarter of fiscal 2005, an increase of 26 percent. Net income for the second quarter of fiscal 2006 was $74.8 million, or $0.41 per diluted share, compared to net income of $5.1 million, or $0.03 per diluted share, for the second quarter of fiscal 2005, a net income increase of 1,362 percent.
Revenue for the six months ended July 31, 2005 was a record $1.16 billion, compared to revenue of $928.0 million for the six months ended July 25, 2004. Net income for the six months ended July 31, 2005 was $139.3 million, or $0.77 per diluted share, compared to net income of $26.5 million, or $0.15 per diluted share, for the six months ended July 25, 2004, a net income increase of 426 percent.
“Our financial performance is a result of the successful execution and delivery of many market-leading products and platform-changing initiatives. Strong year-over-year revenue growth in our desktop GPU, MCP and workstation product lines, combined with our intense focus on gross margin improvement led to our highest quarterly net income in three years,” stated Jen-Hsun Huang, president and CEO at NVIDIA. “Our continued success underscores the importance of our key long-term growth strategies – innovate and be the world GPU leader, expand and extend the reach of GPUs beyond the PC, and deliver total innovative market-defining platforms.”
Second Quarter Fiscal 2006 and Recent Highlights:
• Gross margin improved 710 basis points over the gross margin for the second quarter fiscal 2005. • The NVIDIA nForce™ product line revenue increased 128 percent year-over-year and has achieved record revenue for three consecutive quarters. • The NVIDIA Quadro® workstation product line revenue increased almost 40 percent year-over-year and achieved record revenue. • Introduced and simultaneously delivered two new GeForce™ 7 graphics processing units (GPUs) – the GeForce 7800 GTX and the GeForce 7800 GT – designed for the enthusiast and performance desktop PC segments, respectively. • NVIDIA nForce4 SLI™ technology and dual GeForce 7800 GTX GPU are now featured in the new Dell XPS 600 desktop PC. • The NVIDIA GeForce 6600 GT GPU and the NVIDIA nForce4 SLI-based Asus A8N-SLI Deluxe motherboard earned the 2005 PC World “World Class” Award as best products of the year in hardware. • Introduced two new NVIDIA Quadro GPUs – the NVIDIA Quadro FX 4500 and NVIDIA Quadro FX 3450 – designed for the high-end and mainstream professional segments, respectively. Both GPUs support SLI technology. • NVIDIA extended share from 70 percent to 73 percent from the first calendar quarter of 2005 to the second calendar quarter of 2005 in the Performance DX9 Desktop GPU segment as reported in the Mercury Research Second Quarter PC Graphics Report 2005.
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