Nvidia Reports Record

Nvidia's revenues for the first quarter are a record. The company reports revenues of $148.5 million for the first quarter of its 2001 fiscal year, an increase of 109 percent on last year's $71.0 million. Operating income for the quarter increased from $9 million last year to $25.6 million this time around. "As our results demonstrate, we continue to raise the competitive barriers with our new products and remain extremely focused on execution as we build a sustainable and successful franchise," said Nvidia CEO Jen-Hsun Huang, "With our Tier One OEM and add-in card partners, we reached a new industry milestone by delivering GeForce2 GTS-based products to market only three days after its introduction." Nvidia's board of directors marked the occasion by authorizing a 2 for 1 stock split to be affected through a 100 percent dividend.