NVIDIA 2006 Annual Report Download - page 99

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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS − (Continued)
Note 17 − Subsequent Events
ULI Electronics, Inc. On February 20, 2006, we completed the acquisition of ULi Electronics, Inc., a leading developer of core
logic technology, for approximately $53 million paid in cash.
Stock Split. On March 6, 2006, we issued a press release announcing that our Board of Directors approved a two−for−one stock
split of our outstanding shares of common stock to be effected in the form of a 100% stock dividend. The stock split will be effective
on or about Thursday, April 6, 2006 for stockholders of record at the close of business on Friday, March 17, 2006 and will entitle each
stockholder to receive one additional share for every outstanding share of common stock held. Upon the completion of the stock split,
NVIDIA will have approximately 360 million shares of common stock outstanding. Had the stock split been given retroactive effect in
our consolidated statements of income, the basic net income per share would have been $0.89, $0.30, and $0.23, and the diluted net
income per share would have been $0.83, $0.28, and $0.22, for fiscal 2006, 2005, and 2004, respectively, on an unaudited basis.
Stock Repurchase. On March 6, 2006, we also announced that our Board of Directors approved an increase in our existing stock
repurchase program. We announced a $400 million increase to the original stock repurchase program we had announced in August
2004. As a result of this increase, the amount of common stock the Board of Directors has authorized to be repurchased has now been
increased to a total of $700 million. The repurchases will be made from time to time in the open market, in privately negotiated
transactions, or in structured stock repurchase transactions, in compliance with the Securities and Exchange Commission Rule
10b−18, subject to market conditions, applicable legal requirements, and other factors. The program does not obligate NVIDIA to
acquire any particular amount of common stock and the program may be suspended at any time at our discretion.
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