10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000724910-13-000026`
Period End Date	20130630
Filing Date	20130724
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	nvec-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 34 Cash Flow Statement 36 Comprehensive Income 6

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.00K	USD	Point-in-time
Accounts receivable, allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.54M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities, short term	`MarketableSecuritiesCurrent`	$9.71M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short term	`MarketableSecuritiesCurrent`	$9.91M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.47M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	4.86M	shares	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	4.86M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.52M	USD	Point-in-time
Inventories	`InventoryNet`	$3.34M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Inventories	`InventoryNet`	$3.23M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$250.81K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$958.15K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.04M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.42M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.42M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.50M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.50M	USD	Point-in-time
Gross fixed assets	`PropertyPlantAndEquipmentGross`	$9.92M	USD	Point-in-time
Gross fixed assets	`PropertyPlantAndEquipmentGross`	$9.92M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.23M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.42M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.50M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.69M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$75.35M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$73.04M	USD	Point-in-time
Total assets	`Assets`	$95.77M	USD	Point-in-time
Total assets	`Assets`	$98.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$422.09K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$338.63K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$733.98K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$918.06K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.04M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	-	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$440.74K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.78M	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$234.42K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,860,436 issued and outstanding as of December 31, 2012 and 4,824,745 issued and outstanding as of March 31, 2012	`CommonStockValue`	$48.62K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,860,436 issued and outstanding as of December 31, 2012 and 4,824,745 issued and outstanding as of March 31, 2012	`CommonStockValue`	$48.62K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.20M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.56M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$702.69K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$73.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$71.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$95.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$93.98M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$95.77M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$98.05M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$7.03M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$5.97M	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$202.33K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$432.16K	USD	1 Quarter
Total revenue	`Revenues`	$6.18M	USD	1 Quarter
Total revenue	`Revenues`	$7.46M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.80M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.38M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.66M	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$536.11K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$552.80K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$688.03K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$962.91K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.22M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.52M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.44M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.28M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$562.62K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$526.34K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.00M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.81M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.24M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.38M	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$0.69	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$0.53	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.82M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.88M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.89M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.38M	USD	1 Quarter
Depreciation	`Depreciation`	$190.14K	USD	1 Quarter
Depreciation	`Depreciation`	$139.27K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.28K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$30.76K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$262.26K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-51.39K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-104.65K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$317.72K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$39.84K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$101.95K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.20M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$776.87K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.62M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$445.19K	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$7.71M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$6.20M	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.49M	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$3.85M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.86M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.15M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-51.02K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-238.74K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.54M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.38M	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-855.03K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-85.63K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$1.71M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.29M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.