10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0000724910-13-000036`
Period End Date	20130930
Filing Date	20131023
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	nvec-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 68 Cash Flow Statement 51 Comprehensive Income 12

Balance Sheet 62 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`	$1.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.93M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short term	`MarketableSecuritiesCurrent`	$8.33M	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
Common stock shares, issued	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$3.03M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.52M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	4.86M	shares	Point-in-time
Inventories	`InventoryNet`	$3.34M	USD	Point-in-time
Inventories	`InventoryNet`	$3.10M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$256.47K	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`	$894.81K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.17M	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`	$6.61M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.69M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.31M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$79.14M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$73.04M	USD	Point-in-time
Total assets	`Assets`	$99.62M	USD	Point-in-time
Total assets	`Assets`	$95.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$391.64K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$422.09K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$894.28K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$918.06K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$440.74K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.78M	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$377.23K	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,837,043 issued and outstanding as of September 30, 2013; 4,862,436 issued and outstanding as of March 31, 2013	`CommonStockValue`	$48.62K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,837,043 issued and outstanding as of September 30, 2013; 4,862,436 issued and outstanding as of March 31, 2013	`CommonStockValue`	$48.37K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.20M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$947.08K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$71.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$76.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$93.98M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$97.96M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$95.77M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$99.62M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$5.23M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$12.26M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$13.21M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$7.23M	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$70.03K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$272.36K	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$591.46K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$1.02M	USD	2 Qtrs
Total revenue	`Revenues`	$7.30M	USD	1 Quarter
Total revenue	`Revenues`	$13.48M	USD	2 Qtrs
Total revenue	`Revenues`	$13.29M	USD	2 Qtrs
Total revenue	`Revenues`	$5.82M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.61M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.50M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.41M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$2.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$10.60M	USD	2 Qtrs
Gross profit	`GrossProfit`	$9.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.22M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.80M	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.21M	USD	2 Qtrs
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$660.08K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$607.69K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.14M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.30M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.84M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$876.46K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$612.26K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.44M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$3.05M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$1.22M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.54M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.43M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.26M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.00M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.54M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.05M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.18M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$621.95K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$520.80K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.59M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.62M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.78M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.62M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.79M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.80M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.55M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.82M	USD	2 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$1.21	USD	2 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$1.19	USD	2 Qtrs
Net income per share - diluted	`EarningsPerShareDiluted`	$1.19	USD	2 Qtrs
Net income per share - diluted	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$1.19	USD	2 Qtrs
Net income per share - diluted	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.83M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.83M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.88M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.88M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.88M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.82M	USD	2 Qtrs
Depreciation	`Depreciation`	$291.53K	USD	2 Qtrs
Depreciation	`Depreciation`	$380.27K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.20K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$66.72K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$66.72K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.38K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$28.46K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$14.27K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$509.63K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-723.16K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$293.11K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-236.15K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$127.90K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-63.34K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-54.23K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-60.56K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.99M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.43M	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.02M	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$11.98M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$11.53M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$6.88M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$5.86M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.68M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.11M	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$69.42K	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.38K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.26M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.26M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$71.80K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$390.03K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-948.11K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.93M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	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`	$1.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.93M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$2.84M	USD	2 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$2.92M	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.82M	USD	2 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$617.65K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$244.39K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-610.65K	USD	2 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$532.03K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.35M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$5.19M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.47M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.06M	USD	1 Quarter

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