Graphics processor technologies provider NVIDIA has posted its financial results for the first quarter of fiscal 2007, revealing continued positive growth in multiple business areas and a rise of 41 per cent in net income.
The company posted record revenues of USD 681.8 million, up 17 per cent compared to the same quarter last year, with net income reaching USD 90.7 million - up from USD 64.4 million a year prior.
The growth was largely attributed to the performance of the company's eight new GeForce 7 GPUs for desktop and notebook PCs. Additional highlights for the quarter included a growth in the company's market share of DX9 segments and the completion of its acquisition of core logic technology firm ULi Electronics.
Microsoft's decision to switch the graphics chip for the Xbox 360 to rival manufacturer ATI has impacted on sales for the company, but NVIDIA is anticipating rapid growth through the provision of graphics technology for Sony's PlayStation 3, which launches worldwide in November.
Jen-Hsun Huang, NVIDIA president and CEO, commented: "We experienced growth in each of our businesses, resulting in record revenue for the first quarter. As we move further into the new fiscal year, the growth drivers that include the adoption of Microsoft Vista, high-definition video, and the launch of the Sony PlayStation 3, will continue to accelerate and give us the opportunity for another strong year of growth."