NVIDIA today released its preliminary financial results for its second quarter. The sales are likely to uptick about 13-14% sequentially, gross margins are said to decrease and there is no information about losses or profits.

The corporation announced that it expects to report total revenues of approximately $455 million to $460 million for the second quarter of fiscal 2004 ended July 27, 2003, on the lower end of the guidance provided by the company on its last quarterly conference call (see this news-story).

Gross margins are expected to be slightly lower than the company's original guidance of 1-2% down from 31.3% last quarter. This was a result of higher than anticipated product costs attributed to 0.13 micron semiconductor process technology; we may also say that this was caused by the yield issue with the GeForce FX products made using 0.13 micron technology and higher than expected share of revenue generated by the GeForce FX sales. Everything was indicated by the management last quarter.

The company said it experienced solid growth from XBOX and from record shipments of the GeForce FX family of GPUs. In addition, the company successfully transitioned its mobile product line to its new GeForce FX Go family and recently began ramping numerous notebook design wins.

More details will be provided during NVIDIA's quarterly conference call to be held on August 7, 2003.