NVIDIA Files Amended Form 10-K and Form 10-Q with SEC

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  1. Geo

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    <TABLE cellSpacing=0 cellPadding=0 width=512 border=0><TBODY><TR><TD>NVIDIA Files Amended Form 10-K and Form 10-Q Documents with Securities and Exchange Commission

    </TD></TR><TR vAlign=top><TD class=text>For further information, contact:
    Michael Hara
    Investor Relations
    NVIDIA Corporation
    (408) 486-2511
    mhara@nvidia.com

    Calisa Cole
    Corporate Communications
    NVIDIA Corporation
    (408) 486-6263
    ccole@nvidia.com

    FOR IMMEDIATE RELEASE

    SANTA CLARA, CA—NOVEMBER 29, 2006—NVIDIA Corporation (Nasdaq: NVDA) today reported that it has filed with the Securities and Exchange Commission (SEC) an amended Form 10-K for its fiscal year 2006 ended January 29, 2006, an amended Form 10-Q for the first quarter of fiscal 2007 ended April 30, 2006, and a Form 10-Q for the second quarter of fiscal 2007 ended July 30, 2006.

    As previously disclosed, the amended filings reflect the restatement of financial statements arising out of a review of the Company’s historical option grant practices by the Audit Committee of the Board of Directors. The Audit Committee has completed its review and reported its findings to the Board. The Audit Committee found instances of the use of incorrect measurement dates for certain option grants, which, for the period from fiscal 2000 through 2006, resulted in an aggregate non-cash charge of approximately $127 million for stock-based compensation and associated payroll tax expense, net of related income tax effects. The restatement did not have a material impact on the Company’s operating results for any period in the current fiscal year 2007.

    Further information regarding the restatement, the results of the review, and related matters is included in the amended filings, available at www.sec.gov. The Company voluntarily contacted the SEC regarding this review and has cooperated and expects to continue to cooperate with the SEC in connection with its continuing inquiry regarding the matter.

    About NVIDIA
    NVIDIA Corporation is the worldwide leader in programmable graphics processor technologies. The Company creates innovative, industry-changing products for computing, consumer electronics, and mobile devices. NVIDIA is headquartered in Santa Clara, CA and has offices throughout Asia, Europe, and the Americas. For more information, visit www.nvidia.com.

    ###

    Copyright® 2006 NVIDIA Corporation. All rights reserved. All company and/or product names may be trade names, trademarks and/or registered trademarks of the respective owners with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

    Note to editors: If you are interested in viewing additional information on NVIDIA, please visit the NVIDIA Press Room at http://www.nvidia.com/page/press_room.html
    </TD></TR></TBODY></TABLE>
     
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