Graphics chip maker Nvidia Corp. 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.
Pro forma operating income for Q1 of FY2002 went year-over-year from $25.6 million to $41.7 million; pro forma net income for the same period went from $18.3 million to $33 million. Action net income for the first quarter was $25.9 million, or $0.31 per diluted share, compared to $18.3 million, or $0.24 per diluted share, for Q1 of FY2001.
Nvidia makes graphics processors used in personal computers and workstations. The company does not make its own graphics cards, but it works with a variety of third-party card makers and computer manufacturers who integrate its chips into their board designs. Apple announced in January that most of its Power Mac G4 line would incorporate graphics cards based on Nvidia’s GeForce2 MX chip. Nvidia later debuted to the world its high-end GeForce 3 chip on the Mac at Macworld Expo in Tokyo, and it seems that cards based on that chip are finally beginning to make it into production.
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.