The revenue for Q4 2009 was of only $481.1 million, 60% down from a previous $1.2 billion (Q 4 2008). The revenue for the entire fiscal year 2009 was $3.4 billion, down 16% from the $4.1 billion made during 2008.
Last but definitely worst, Nvidia reminded everyone that the profit for the fiscal year 2008 was $797.6 million. For 2009, the company has to show only a loss of $30 million.
"The environment is clearly difficult and uncertain," said Jen-Hsun Huang, president and CEO of Nvidia. "Our first priority is to set an operating expense level that balances cash conservation while allowing us to continue to invest in initiatives that are of great importance to the market and in which we believe we have industry leadership. We have initiatives in all areas to reduce operating expenses."
Just in case Jen-Hsun Huang wasn’t clear: “o reduce operating expenses” means that Nvidia is cooking a new round of budget cuts and layoffs. Do expect both of them any time soon.