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Nvidia Loses $30 Million In Full Year Results

Chip manufacturer Nvidia, maker of the GeForce line of PC graphics cards and the graphics chip for the PlayStation 3, has revealed a full-year loss of $30 million. The company blamed the global economic crisis, as fourth quarter sales fell 60 percent.
Chip manufacturer Nvidia, maker of the GeForce line of PC graphics cards and the graphics chip for the PlayStation 3, has revealed a loss of $30 million for its full fiscal year. "The environment is clearly difficult and uncertain," said president and CEO Jen-Hsun Huang. "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." For the fourth quarter ended January 25th, revenues fell by 60 percent to $481.1 million, while for the full year, revenues dropped 16 percent to $3.4 billion. "Although fiscal 2009 was extremely difficult, it was one of our best years of innovation," he added. "We made many important advances in graphics processing with PhysX and 3D Vision, GPU computing with CUDA and Tesla, and mobile computing with ION and Tegra. I am pleased with the excellent achievements we made in each of these important areas."

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