Nvidia posts losses for last fiscal quarter, fiscal year


— 10:14 AM on February 11, 2009

Ion platform or not, Nvidia's last fiscal quarter didn't turn out too well. The graphics company has posted a net loss of $147.7 million on revenue of $481.1 million for the fiscal quarter that ended on January 25, 2009. Those results don't compare very favorably to the record $1.2 billion in revenue and $257 million net income Nvidia posted for the same quarter a year ago.

For the last fiscal year—technically Nvidia's fiscal 2009, which also ended on January 25—the company posted a $30 million net loss on $3.4 billion revenue. Again, these numbers don't look too rosy compared to those for fiscal 2008, when Nvidia saw $4.1 billion in sales and a cool $797.6 million in profits.

That said, Nvidia points out that its fiscal 2009 net income was $303.3 million if you don't stick to U.S. accounting principles and ignore things like warranty charges and restructuring charges. Presumably, the $150-200 million Nvidia wrote off for GPU and chipset failures played a significant part in the negative bottom line.

Nvidia's results announcement doesn't forecast numbers for the current quarter. However, it quotes CEO Jen-Hsun Huang as saying, "The environment is clearly difficult and uncertain. Our first priority is to set an operating expense level that balances cash conservation while allowing us to continue to invest in initiatives that are of great importance to the market and in which we believe we have industry leadership. We have initiatives in all areas to reduce operating expenses."

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