Nvidia 2-for-1 stock split coming Monday

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Nvidia, makers of graphics processors used in personal computers and workstations, says that a two-for-one split of its common stock will be reflected as soon as trading in U.S. equity securities resumes on the Nasdaq Stock Market.

The split was to have been effective on Sept. 12, but was delayed due to the disruption of U.S. financial markets by the cowardly terrorist attacks on the United States this week. However, representatives of Nasdaq and the New York Stock Exchange have said that they expect the U.S. equity markets to re-open Monday morning

This means that shares of Nvidia common stock will open on a post-split basis when trading resumes on Nasdaq. The split-adjusted price as of the last trade on Sept. 10, the most recent day that trading was conducted on Nasdaq, was US$37.88. The Nasdaq-100 Index will reflect Nvidia's price on a post-split basis when trading resumes. And the ex-dividend date for the stock split will be Sept. 12, as originally announced.

Nvidia, which makes the GeForce2 and GeForce 3 chips for desktop Macs, reported higher revenues and earnings for the first quarter of its fiscal year 2002, ending April 29. The company says revenues for the first quarter increased year-over-year from US$148.5 million to $240.9 million, an impressive 62 percent increase.

Nvidia CEO and president Jen-Hsun Huang called this past financial quarter "the beginning of [Nvidia's] next growth phase," praising his company's success in moving into the mobile and Macintosh markets.

"And with the strength of our broad product portfolio, deep product pipeline, and upcoming entry into consumer electronics, we remain excited and confident in the long-term prospects of our business," said Huang.

This story, "Nvidia 2-for-1 stock split coming Monday" was originally published by PCWorld.

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