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Nvidia's Quarter Helped by Ending Microsoft Dispute

Resolution of a pricing dispute with Microsoft (MSFT - Get Report)helped graphics chipmaker Nvidia (NVDA - Get Report) post a net profit of $50.9 million for its fourth quarter of fiscal 2003.

Net income was 30 cents a share, compared with $76 million, or 43 cents a share, in the same period a year earlier. Revenue was $469 million, compared with $503.7 million in the year-ago quarter and $430.30 million in the prior quarter.

Nvidia's results were aided by the resolution of a disagreement over the pricing of chips for the Xbox, which accounts for 20% of its revenue. The company said the agreement added $40.4 million in revenue to its results for the quarter. Of those, $4.8 million in sales came in the fourth quarter and the rest from earlier quarters.

Wall Street had expected 6 cents per share in earnings on $427.58 million in revenue.

For the full fiscal year ended Jan. 26, revenue was $1.91 billion, compared with $1.37 billion for the prior year. Net income for the year was $90.8 million, or 54 cents per share, compared with net income of $176.9 million, or $1.03 a share the prior year.

Analysts surveyed by Thomson Financial/First Call had expected 54 cents a share in earnings on revenue of $1.87 billion.

Nvidia closed up 12 cents, or 1.2%, at $9.87.

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