NVIDIA reports higher Q4 net income, provides outlook for Q1

NVIDIA Corporation, a manufacturer of graphics processors and media and communications devices, has reported that net income for the fourth quarter ended January 27, 2013 was $173.97 million, or $0.28 per diluted share, compared to $116.02 million, or $0.19 per diluted share, for the same quarter ended January 29, 2012. The company expects revenue to be $940 million for the first quarter of fiscal 2014.

Revenues for the fourth quarter ended January 27, 2013 were $1.11 billion, compared to $953.19 million for the same quarter ended January 29, 2012.

Net income for the year ended January 27, 2013 was $562.54 million, or $0.90 per diluted share, compared to $581.09 million, or $0.94 per diluted share, for the year ended January 29, 2012.

Revenues for the year ended January 27, 2013 were $4.28 billion, compared to $4 billion for the year ended January 29, 2012.

"This year we did the best work in our company's history," said Jen-Hsun Huang, president and CEO of NVIDIA. "We achieved record revenues, margins and cash, despite significant market headwinds.

"We grew our GPU and Tegra Processor businesses. We are sampling production silicon of the Tegra 4 platform which includes our 4G LTE modem. And we created new pillars for long term growth with Project SHIELD and NVIDIA GRID - first-of-their-kind devices that will extend our leadership in visual computing into mobile and the cloud."