10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0000724910-14-000004`
Period End Date	20131231
Filing Date	20140122
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	nvec-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 68 Cash Flow Statement 50 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
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$843.02K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.54M	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`	$10.29M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	4.86M	shares	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	4.85M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.52M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$1.79M	USD	Point-in-time
Inventories	`InventoryNet`	$3.34M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.85M	shares	Point-in-time
Inventories	`InventoryNet`	$3.03M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	-	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$241.60K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.22M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$958.15K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.54M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.45M	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`	$9.95M	USD	Point-in-time
Gross fixed assets	`PropertyPlantAndEquipmentGross`	$9.92M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.83M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.23M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.69M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.12M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$80.58M	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`	$102.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$422.09K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$285.78K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$918.06K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$833.33K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	$440.74K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.12M	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`	$282.34K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,846,043 issued and outstanding as of December 31, 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; 4,846,043 issued and outstanding as of December 31, 2013; 4,862,436 issued and outstanding as of March 31, 2013	`CommonStockValue`	$48.46K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.25M	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`	$795.25K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$71.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$100.84M	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`	$102.24M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$18.03M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$19.65M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$5.76M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$6.45M	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$297.65K	USD	3 Qtrs
Contract research and development	`ContractsRevenue`	$1.79M	USD	3 Qtrs
Contract research and development	`ContractsRevenue`	$762.30K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$25.29K	USD	1 Quarter
Total revenue	`Revenues`	$19.95M	USD	3 Qtrs
Total revenue	`Revenues`	$19.81M	USD	3 Qtrs
Total revenue	`Revenues`	$6.47M	USD	1 Quarter
Total revenue	`Revenues`	$6.53M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.45M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$5.15M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$4.33M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$1.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.66M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.62M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.79M	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$570.74K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.76M	USD	3 Qtrs
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.71M	USD	3 Qtrs
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$543.70K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$905.25K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.80M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.74M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$501.32K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.45M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.52M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$4.50M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$1.07M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.71M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$11.12M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$11.15M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.58M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.58M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$600.39K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.78M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$530.38K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.31M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.93M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.11M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.70M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.42M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.21M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.33M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.12M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$8.57M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.78M	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$1.80	USD	3 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$0.60	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$1.77	USD	3 Qtrs
Net income per share - diluted	`EarningsPerShareDiluted`	$0.57	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$0.60	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$1.76	USD	3 Qtrs
Net income per share - diluted	`EarningsPerShareDiluted`	$1.80	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.83M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.57M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.78M	USD	1 Quarter
Depreciation	`Depreciation`	$457.94K	USD	3 Qtrs
Depreciation	`Depreciation`	$601.24K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$66.72K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.20K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.38K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$67.04K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$102.12K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$27.32K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-731.90K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-63.06K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-306.69K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$526.15K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$173.17K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$262.69K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-221.04K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-211.14K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.42M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.82M	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.89K	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.61M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$17.88M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$17.44M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$8.55M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.85M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.36M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.20M	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$188.03K	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$69.43K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.38K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$67.04K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.26M	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$71.81K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.01M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-548.40K	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-701.51K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$843.02K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	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`	$843.02K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	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`	$4.22M	USD	3 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$4.21M	USD	3 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.57M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.78M	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-762.48K	USD	3 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-151.83K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-22.47K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$509.55K	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$9.23M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$2.88M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$2.63M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$7.81M	USD	3 Qtrs

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