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Nvidia Q3 income dips despite sales gains
Quarter on quarter decline
Nvidia's quarterly income fell almost 75 per cent quarter on quarter during the three months to 26 October - despite a sequential rise in revenue.
The graphics chipmaker's Q3 sales rose almost six per cent over the previous quarter, to $486.1 million. This marks a 13 per cent jump over the same period last year.
In Q3 2003 (Nvidia is currently in fiscal 2004) the company lost $48.6 million (32 cents a share). This time round, it made $6.4 million (four cents a share).
In Q3 2004, Nvidia forked out $3.5 million to write off in-process R&D resulting from its acquisition of MediaQ, and took a charge of $13.1 million arising from the redemption of Convertible Subordinated Notes.
Looking ahead, the company said it expects Q4 revenue to be much the same as Q3. Gross margin should rise one percentage point to 28.6 per cent. ®