Revenue is now expected to be $950 million, plus or minus 1 percent, compared with original expectations of $1,066 million, plus or minus 2 percent, provided on Nov. 10, 2011.
The global disk-drive shortage caused by the flooding in Thailand had more impact on the mainstream GPU segment than anticipated. Shipments by some PC OEMs were reduced. And the higher prices of disk-drives constrained some PC OEMs' ability to include a GPU in their systems.
Additionally, the Tegra 2 mobile business declined more rapidly than expected, ahead of devices based on the Tegra 3 processor ramping into production in the first quarter of calendar-year 2012.
No conference call will be held in conjunction with this business update. Additional commentary pertaining to the fourth quarter will be available when NVIDIA reports financial results on Feb. 15, 2012.
Certain statements in this press release including, but not limited to statements as to: the company's financial outlook for the fourth quarter ending Jan. 29, 2012; the timing of the ramp of the company's Tegra 3 processor; and the effects of the company's patents on modern computing are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the reports NVIDIA files with the Securities and Exchange Commission, or SEC, including its Form 10-Q for the fiscal period ended October 30, 2011. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
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