14 DAY TRIAL // Santa Clara, California-based NVIDIA has recently announced its financial results for the first quarter that ended on April 26, 2009. According to the results that were made public by the graphics chip maker, the company's revenue was down to $664.2 million, compared to the $1.2 billion it recorded in the first fiscal quarter of last year. At 37 cents per share, the green goblin posted a net loss of $201.3 million, down 42 percent from the same period last year. However, despite the low results, the company's CEO, Mr. Jen-Hsun Huang wanted to point out that his company was faced with the opportunity delivered by its Tegra chip.
“We made good progress managing expenses and significantly reducing inventory, while continuing to invest in our growth strategies,” said Jen-Hsun Huang, president and CEO of NVIDIA. “The GPU is ever-more central to our computing experience. There is a rapidly growing number of applications that rely on the GPU, and the industry is gearing up to launch the next generation operating systems that adopt GPU computing.”
NVIDIA's CEO wanted to stress the fact that, despite the lower financial results, the company managed to record a revenue growth of 38 percent and reduce the inventory days from 144 to 64 compared to the last quarter of 2008. In addition, the chip maker underlined the fact that its Tegra System-on-Chip (Soc) product had the capability to open the doors to an entirely new market, enabling NVIDIA to reach new heights.
A leader in graphics, NVIDIA has had a busy first quarter this year, with the company introducing a number of new products, including a part of its GeForce lineup. However, among the highlights there was the introduction of its 3D Vision product, as well as the launch of the first desktop computer system to boast the company's ION platform. These new products are expected throughout 2009, with more to come by the year's end.