Nvidia Says 3rd-Quarter Profit Up 59% on Strong Chip Sales
Nvidia Corp., the best performer in the Nasdaq 100 index this year, said fiscal third-quarter profit rose 59% as the maker of chips that enhance computer graphics took market share from rival ATI Technologies Inc.
Net income rose to $44.7 million, or 26 cents a share, from $28.1 million, or 17 cents, a year earlier. Revenue in the period ended Oct.28 rose 87% to $370.2 million from $198.2million, the firm said.
Santa Clara, Calif.-based Nvidia overtook ATI in the main desktop PC market over the last year by getting new components to market faster than its Canadian rival, analysts said.
Shares of Nvidia fell 88 cents Thursday to close at $49.75 on Nasdaq.
Other earnings, excluding one-time gains or charges unless noted, include:
Keystone Automotive Industries Inc. reported net income of $1.7million, or 12 cents a share, compared with $359,000, or 2 cents a share, a year ago. Net sales at the Pomona distributor of so-called aftermarket vehicle collision products were $88.7 million, a 7% increase.
Panavision Inc. reported a net loss of $8.2 million, compared with $3.8 million a year ago. Revenue at the Woodland Hills designer and manufacturer of camera systems for motion pictures and television was $38 million, compared with $54.2 million a year ago.
Pinnacle Entertainment Inc. reported net income of $1 million, or 4 cents a share, compared with $7.6 million, or 28 cents a share, a year ago. Revenue at the Glendale company was $139.3million, up from $120.9 million a year ago.