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Primeur weekly 2013-08-12

Special

Hybrid architectures and stream computing are becoming the norm in life sciences ...

Focus

UberCloud successful in bringing HPC Cloud to SMEs - and interview with Wolfgang Gentzsch ...

The Cloud

New IBM Flex Systems allow clients to build larger Clouds in smaller data centres ...

Orion Health chooses HP to support managed health services ...

Oracle Enterprise Manager 12c delivers comprehensive management for Oracle Database 12c ...

Capitalonline taps IBM to offer enhanced Cloud services ...

IBM to help Geraldton become smarter, more sustainable city with new Cloud data centre ...

Adaptive Computing unveils Moab Cloud Optimizer Integration for HP Cloud Service Automation 3.2 ...

EuroFlash

Putting Big Data into Perspective ...

Magnetic switching simplified ...

Quantum communication controlled by resonance in 'artificial atoms' ...

Skoda Auto selects SGI ICE X and SGI UV 2000 HPC systems to accelerate automotive innovation ...

ClusterVision strengthens commercial teams in the UK and Germany ...

Wroclaw University Library turns to IBM Big Data solution to preserve European heritage, open digital archives to the world ...

USFlash

Fujitsu receives order for new supercomputer system from Canon ...

IBM Research creates new foundation to program SyNAPSE chips ...

Google, IBM, Mellanox, NVIDIA, and Tyan announce development group for data centres ...

HP helps New Zealand Government Council boost employee productivity ...

Cray names John Josephakis Vice President of Worldwide Sales ...

CSIRO takes charge of Australia's information overload ...

Supercomputer-enabled metagenomic research explores ecosystems in oceans and microbes in the human esophagus ...

Speed limit set for ultrafast electrical switch ...

SGI reports fourth quarter and fiscal year 2013 financial results ...

NVIDIA reports financial results for second quarter fiscal 2014 ...

How superbug spreads among regional hospitals: a domino effect ...

NVIDIA reports financial results for second quarter fiscal 2014


8 Aug 2013 Santa Clara - NVIDIA has reported revenue for the second quarter of fiscal 2014, ended July 28, 2013, of $977.2 million, up 2.4 percent from $954.7 million in the previous quarter. NVIDIA issued revenue of $977.2 million; GAAP net income of $96.4 million, or $0.16 per diluted share; and non-GAAP net income of $133.3 million, or $0.23 per diluted share. The record GAAP and non-GAAP gross margins are 55.8 percent and 56.3 percent, respectively. GAAP earnings per diluted share were $0.16, up 23.1 percent from $0.13 in the previous quarter. Non-GAAP earnings per diluted share were $0.23, up 27.8 percent from $0.18 in the previous quarter.

"The GPU business continued to grow, driving our fourth consecutive quarter of record margins", stated Jen-Hsun Huang, president and chief executive officer of NVIDIA. "We also began shipping GRID virtualized graphics, which puts the power of NVIDIA GPUs into the data centre. We look forward to a strong second half, with new Tegra 4 devices coming to market, SHIELD moving beyond the U.S. and broader sampling of Project Logan, our next-generation Tegra processor, which brings Kepler, the world's most advanced GPU, to mobile."

On May 14, 2013, NVIDIA executed an accelerated share repurchase (ASR) agreement with Goldman, Sachs & Co. such that NVIDIA paid Goldman Sachs $750 million and Goldman Sachs delivered 36.9 million shares on May 16, 2013. These shares were accounted for as treasury share repurchases that reduced the outstanding common shares used to calculate EPS. Upon final settlement of the ASR, Goldman Sachs may be required to deliver additional shares of common stock to NVIDIA or NVIDIA may be required to deliver shares of its common stock, or elect to make a cash payment, to Goldman Sachs, based on the terms and conditions under the ASR. NVIDIA currently expects that, at the time of settlement, Goldman Sachs will be required to deliver additional shares of common stock to NVIDIA.

NVIDIA's outlook for the third quarter of fiscal 2014 is as follows:

  • Revenue is expected to be $1.050 billion, plus or minus two percent.
  • GAAP and non-GAAP gross margins are expected to be approximately flat relative to the prior quarter at 56.0 percent and 56.3 percent, respectively.
  • GAAP operating expenses are expected to be approximately $460 million. Non-GAAP operating expenses are expected to be approximately $418 million.
  • GAAP and non-GAAP tax rates for the remaining half of fiscal 2014 are expected to be 16 percent, plus or minus one percent. This estimate excludes any discrete tax events that may occur during a quarter, which, if realized, may increase or decrease our actual effective tax rates in such quarter.

NVIDIA estimates depreciation and amortization for the third quarter to be approximately $62 million to $64 million. Capital expenditures are expected to be in the range of $60 million to $70 million.

Diluted shares for the third quarter are expected to be approximately 589 million.

Among highlights of the second quarter of fiscal 2014, NVIDIA:

  • Demonstrated the capabilities of the Kepler-based GPU in Project Logan, its next-generation mobile processor, and announced an IP licensing initiative that will bring this technology to new markets.
  • Shipped NVIDIA SHIELD, its open-platform gaming and entertainment portable (July 31, after quarter end).
  • Demonstrated NVIDIA Tegra 4i phone calls on AT&T's network, and showed support of LTE Cat 4 data rates.
  • Launched a new family of high-end gaming GPUs, the GeForce GTX 760, GeForce GTX 770 and GeForce GTX 780.
  • Appeared on stage with the CEO of Citrix to announce that XenDesktop 7 has now fully integrated NVIDIA GRID vGPU technology to share GPUs across virtual machines.
  • Appointed Dawn Hudson, former CEO of PepsiCo's North American operations, to its board of directors.

NVIDIA will pay its next quarterly cash dividend of $0.075 cents per share on September 13, 2013, to all stockholders of record on August 22, 2013.

Source: NVIDIA

Back to Table of contents

Primeur weekly 2013-08-12

Special

Hybrid architectures and stream computing are becoming the norm in life sciences ...

Focus

UberCloud successful in bringing HPC Cloud to SMEs - and interview with Wolfgang Gentzsch ...

The Cloud

New IBM Flex Systems allow clients to build larger Clouds in smaller data centres ...

Orion Health chooses HP to support managed health services ...

Oracle Enterprise Manager 12c delivers comprehensive management for Oracle Database 12c ...

Capitalonline taps IBM to offer enhanced Cloud services ...

IBM to help Geraldton become smarter, more sustainable city with new Cloud data centre ...

Adaptive Computing unveils Moab Cloud Optimizer Integration for HP Cloud Service Automation 3.2 ...

EuroFlash

Putting Big Data into Perspective ...

Magnetic switching simplified ...

Quantum communication controlled by resonance in 'artificial atoms' ...

Skoda Auto selects SGI ICE X and SGI UV 2000 HPC systems to accelerate automotive innovation ...

ClusterVision strengthens commercial teams in the UK and Germany ...

Wroclaw University Library turns to IBM Big Data solution to preserve European heritage, open digital archives to the world ...

USFlash

Fujitsu receives order for new supercomputer system from Canon ...

IBM Research creates new foundation to program SyNAPSE chips ...

Google, IBM, Mellanox, NVIDIA, and Tyan announce development group for data centres ...

HP helps New Zealand Government Council boost employee productivity ...

Cray names John Josephakis Vice President of Worldwide Sales ...

CSIRO takes charge of Australia's information overload ...

Supercomputer-enabled metagenomic research explores ecosystems in oceans and microbes in the human esophagus ...

Speed limit set for ultrafast electrical switch ...

SGI reports fourth quarter and fiscal year 2013 financial results ...

NVIDIA reports financial results for second quarter fiscal 2014 ...

How superbug spreads among regional hospitals: a domino effect ...