Nvidia may take $150m hit over stock options
Restatement of recent years' figures coming
Nvidia's investigation into stock-option awards will result in a restatement of the company's financial figures for fiscal years 2004, 2005 and 2006, and for Q1 FY2007, the graphics chip maker admitted last night.
It said the net impact of the restatement will be non-cash charges totalling less than $150m before tax. Whatever the final total, it will not have a "material impact" on any of FY2007's quarterly results, Nvidia claimed, including the Q2 FY2007 figures it has yet to file thanks to the stock-option probe.
In August, Nvidia announced record quarterly revenues for the three months to 30 July 2007, the second quarter of FY2007. However, it did not announce any other financial results, preferring to wait until the stock-option investigation was completed.
Nvidia did say that sales for the three-month period topped $687.5m, up 19.6 per cent from the $574.8m but a more modest 0.8 per cent on the previous quarter. ®