OIL & GAS

NVIDIA Corporation reported financial results for the first quarter of fiscal 2006 ended May 1, 2005. For the first quarter of fiscal 2006, revenue increased to a record $583.8 million, compared to $471.9 million for the first quarter of fiscal 2005, an increase of 24 percent. Net income for the first quarter of fiscal 2006 was $64.4 million, or $0.36 per diluted share, compared to net income of $21.3 million, or $0.12 per diluted share, for the first quarter of fiscal 2005. In Q1 NVIDIA nForce Professional MCP shipped in its first enterprise server platform -- the HP ProLiant DL145 G2 server. The ProLiant DL145 G2 is an AMD Opteron-based platform ideal for large clustered high-performance computing environments and general purpose computing requirements. "We have solidly returned our company to growth," stated Jen-Hsun Huang, president and CEO of NVIDIA. "We now have four exciting growth businesses -- GPU, MCP, wireless media processor, and consumer electronics. In addition, our gross margin initiatives continue to deliver results ahead of schedule. Our efforts over the past two years have put us back in growth mode and have positioned us squarely at the center of the digital media revolution." First Quarter Fiscal 2006 Highlights -- Gross margin improved 450 basis points over the gross margin for the first quarter fiscal 2005. -- The NVIDIA nForce product line achieved record revenue. -- The NVIDIA Quadro product line achieved record revenue. -- NVIDIA and Sony Computer Entertainment executed the Definitive Agreement to jointly develop the graphics processing unit for Sony Computer Entertainment's next-generation computer entertainment system. -- Introduced and delivered production volume of the NVIDIA nForce 4 SLI Intel Edition media and communications processor (MCP) for Intel-based personal computers. -- NVIDIA nForce MCPs increased their share of the AMD64 segment to 55 percent as reported by Mercury Research for the quarter ending March 31, 2005. -- Introduced and delivered volume production of two new GeForce 6 graphics processing units (GPUs) -- the GeForce 6800 Ultra 512MB and the GeForce 6200 AGP GPUs -- designed for the enthusiast and value desktop segments, respectively. -- Introduced and delivered volume production of our fastest mobile GPU to date, the NVIDIA GeForce Go 6800 Ultra. The Dell Inspiron XPS Gen 2 was the first notebook available with the GeForce Go 6800 Ultra mobile GPU. -- NVIDIA extended share from 67 percent to 70 percent from the fourth quarter of calendar 2004 to the first quarter of calendar 2005 in the Performance DX9 Desktop GPU segment as reported in Mercury Research's First Quarter PC Graphics Report 2005.