08.05.2015, 15:44
NVIDIA Announces Financial Results for First Quarter Fiscal 2016
OREANDA-NEWS. NVIDIA (NASDAQ: NVDA) today reported revenue for the first quarter ended April 26, 2015, of \$1.15 billion, up 4 percent from \$1.10 billion a year earlier and down 8 percent from \$1.25 billion the previous quarter.
GAAP earnings per diluted share for the quarter were \$0.24, unchanged from \$0.24 a year earlier and down 31 percent from \$0.35 in the previous quarter. Non-GAAP earnings per diluted share were \$0.33, up 14 percent from \$0.29 a year earlier and down 23 percent from \$0.43 in the previous quarter.
"The importance of visual computing is evident all around us," said Jen-Hsun Huang, president and chief executive officer of NVIDIA.
"Our expertise in this field enables us to take a leading position to advance deep learning, virtual reality and self-driving cars. "Our singular focus on visual computing is aligned with some of the most exciting growth opportunities in computing today," he said.
IP Litigation
The company is looking forward to its case against Samsung and Qualcomm, set to be heard in June at the U.S. International Trade Commission. Last month, NVIDIA received a favorable pretrial claim construction ruling in the case.
Icera Modem Operations
NVIDIA announced on May 5, 2015, that it will wind-down its Icera modem operations in the second quarter of fiscal 2016. It is open to a sale of the technology or operations.
The company estimates that it will recognize restructuring charges in the range of \$100 million to \$125 million, primarily during fiscal 2016. These charges will consist of severance and other employee termination benefits, tax expense items and other costs associated with the wind-down, if the company is unable to sell the modem operations.
The Icera wind-down or sale is expected to benefit non-GAAP operating expenses in the second half of the year and the company will carefully invest in its growth initiatives of deep learning, self-driving cars and gaming. Non-GAAP operating expenses in fiscal 2016 are expected to be approximately flat with the previous year, excluding litigation costs, which are anticipated to be in the range of \$70 million to \$90 million as the company defends its intellectual property.
GAAP earnings per diluted share for the quarter were \$0.24, unchanged from \$0.24 a year earlier and down 31 percent from \$0.35 in the previous quarter. Non-GAAP earnings per diluted share were \$0.33, up 14 percent from \$0.29 a year earlier and down 23 percent from \$0.43 in the previous quarter.
"The importance of visual computing is evident all around us," said Jen-Hsun Huang, president and chief executive officer of NVIDIA.
"Our expertise in this field enables us to take a leading position to advance deep learning, virtual reality and self-driving cars. "Our singular focus on visual computing is aligned with some of the most exciting growth opportunities in computing today," he said.
IP Litigation
The company is looking forward to its case against Samsung and Qualcomm, set to be heard in June at the U.S. International Trade Commission. Last month, NVIDIA received a favorable pretrial claim construction ruling in the case.
Icera Modem Operations
NVIDIA announced on May 5, 2015, that it will wind-down its Icera modem operations in the second quarter of fiscal 2016. It is open to a sale of the technology or operations.
The company estimates that it will recognize restructuring charges in the range of \$100 million to \$125 million, primarily during fiscal 2016. These charges will consist of severance and other employee termination benefits, tax expense items and other costs associated with the wind-down, if the company is unable to sell the modem operations.
The Icera wind-down or sale is expected to benefit non-GAAP operating expenses in the second half of the year and the company will carefully invest in its growth initiatives of deep learning, self-driving cars and gaming. Non-GAAP operating expenses in fiscal 2016 are expected to be approximately flat with the previous year, excluding litigation costs, which are anticipated to be in the range of \$70 million to \$90 million as the company defends its intellectual property.
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