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10-QPeriod: Q3 FY2013

NVIDIA CORP Quarterly Report for Q3 Ended Oct 28, 2012

Filed November 19, 2012For Securities:NVDA

Summary

NVIDIA Corporation's (NVDA) third quarter fiscal year 2013 filing on November 19, 2012, reported a robust increase in revenue, reaching $1.20 billion, up 12.9% year-over-year. This growth was primarily driven by strong performance in the GPU business, fueled by sales of new Kepler-based products and increased notebook revenue due to design wins. The Consumer Products Business (CPB) also saw significant growth, largely attributed to higher sales of Tegra 3-based devices. Despite revenue growth, net income saw a decline from $178.3 million in the prior year to $209.1 million for the current quarter, resulting in a decrease in diluted EPS from $0.29 to $0.33. This was partly influenced by a higher effective tax rate due to the expiration of the US federal research tax credit. The company also announced the initiation of a quarterly cash dividend program, signaling a commitment to returning value to shareholders. NVIDIA's balance sheet remains strong, with $3.43 billion in cash, cash equivalents, and marketable securities.

Financial Highlights

54 data points
Beta

Revenue

$1.20B

0.5% Gross Margin

Net Income

$209.08M

0.2% Net Margin

EPS (Diluted)

$0.01

Total Assets

$6.08B

Cash & Equivalents

$525.39M

Free Cash Flow

$136.80M

Financial Statements
Beta
Revenue$1.20B
Cost of Revenue$567.45M
Gross Profit$636.66M
R&D Expenses$284.18M
SG&A Expenses$100.26M
Operating Expenses$384.44M
Operating Income$252.22M
Net Income$209.08M
EPS (Basic)$0.01
EPS (Diluted)$0.01
Shares Outstanding (Basic)24.89B
Shares Outstanding (Diluted)25.15B

Key Highlights

  • 1Revenue increased by 12.9% to $1.20 billion in Q3 FY2013 compared to $1.07 billion in Q3 FY2012, driven by strong GPU and CPB segments.
  • 2GPU business revenue grew 14.7% year-over-year, supported by high-end Kepler products and notebook design wins.
  • 3Consumer Products Business (CPB) revenue surged 27.6%, primarily due to increased sales of Tegra 3-based devices.
  • 4Diluted net income was $209.1 million ($0.33 per share) for Q3 FY2013, compared to $178.3 million ($0.29 per share) in Q3 FY2012, showing an increase in net income and EPS.
  • 5The effective tax rate increased to 17.6% from 13.0% due to the expiration of the U.S. federal research tax credit.
  • 6NVIDIA announced the initiation of a quarterly cash dividend program, with the first dividend of $0.075 per share to be paid in December 2012.
  • 7The company maintained a strong liquidity position with $3.43 billion in cash, cash equivalents, and marketable securities as of October 28, 2012.

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