NVIDIA Reports Financial Results For Annual & Fourth Quarter Fiscal 2012

Nvidia has reported its revenue for fiscal 2012 which ended January 29, 2012 of $4 billion, up 12.8 percent from $3.54 billion previously reported in fiscal 2011. The GAAP earnings per share for the year were $0.94 per diluted share, which is an increase of 118.6 percent compared to $0.43 in fiscal 2011. The Non-GAAP earninges per share were $1.19 for fiscal 2012, an increase of 46.9 percent over $0.81 in fiscal 2011. Nvidia’s revenue for the fourth quarter of fiscal 2012 was down 10.6 percent to $953.2 million compared to the previous quarter, yet was up 7.5 percent from $886.4 million this time last year.

Nvidia’s outlook for the first quarter of fiscal 2013, is as follows:

Revenue is expected to be between $900 million and $930 million.

GAAP gross margins are expected to be 49.2 percent, plus or minus 1 percentage point; non-GAAP gross margins are expected to be 49.5 percent, plus or minus 1 percentage point.

GAAP operating expenses are expected to be approximately $383 million; non-GAAP operating expenses are expected to be approximately $340 million.

GAAP and non-GAAP tax rates are expected to be approximately 20 percent for the fiscal year 2013; and approximately 16 percent for the year, if the research tax credit is reinstated into U.S. tax law. Our annual projected tax rates reflect our expectation for the quarter, excluding any discrete tax events that may occur, which, if realized, may increase or decrease our GAAP and non-GAAP tax rates.
We estimate depreciation and amortization for the first quarter to be approximately $52 million to $56 million. Capital expenditures are expected to be in the range of $35 to $45 million.

Diluted shares for the first quarter are expected to be approximately 622.5 million.