NVidia yesterday announced record revenues and earnings for its second quarter of fiscal 2002, which ended July 29 2001.
NVidia produces the graphics cards installed in all of Apple's top-of-the-range PowerMac G4s.
Revenues increased by $90m, to $260.3m, compared to $170.4m for the year-ago quarter. This 53 per cent increase in revenues equates to an operating income of $50.1m, compared to $29m a year ago. Actual net income after other charges was $33.6m compared to actual net income of $22.5m a year ago.
"Our second-quarter results exemplify the strength of our product roadmap and continued momentum of our core GPU business worldwide," said Jen-Hsun Huang, president and CEO of NVidia. He was optimistic that the company could maintain growth as it prepares to enter the "consumer electronics" market.
Over the six months ending on July 29, NVidia's revenues reached $501.2m, an increase of 57 per cent year on year. Actual net income for the period was $59.4m, or $0.71 per share.
NVidia's financial report reveals it is sitting on $681 million of cash and cash equivalent assets, as of July 29.
In other Nvidia related news, the company has announced plans for a two-for-one stock split.