Sat, Mar 30, 2002 - Page 17 News List

Nvidia Corp refutes local reports that its sales will drop

BLOOMBERG , SANTA CLARA, CALIFORNIA

Nvidia Corp, a maker of chips for computers and Microsoft Corp's Xbox video-game console, said it hasn't changed its sales forecast, denying a Taiwan newspaper report saying its sales will drop.

Nvidia's stock fell as much as 8 percent to US$41.87 after a Salomon Smith Barney analyst report said the local Chinese-language Commercial Times reported that Nvidia's second-quarter sales will drop, citing an interview with Huang Ching-min (黃慶民), a Nvidia marketing director.

Nvidia expects sales to rise as much as 8 percent each quarter this fiscal year, which ends in January, said spokesman Mike Hara. The Santa Clara, California-based company expects sales to rise as much as 80 percent this year, he said. The company hasn't changed either forecast since a February conference call.

"The story is false," Hara said.

"The article got picked up by the analyst from Salomon and it just snowballed from there. We would never, ever, change guidance in an interview with a Tai-wanese newspaper."

Hara said Huang isn't listed in the firm's employment records.

Nvidia's Taiwan representative office said Ng Kheng Bin, whose Chinese name can be transliterated as Huang Ching-min in mandarin or Ng Kheng Bin in Hokkien, is in fact the company's marketing director for the Asia Pacific.

After Ng's identity was confirmed, Nvidia spokesman Derek Perez, said in an e-mailed statement the comments were false.

"It is hard for a person in that region to have visibility to the overall well-being of the company as to even make a statement like that," Perez said.

This story has been viewed 3048 times.
TOP top