10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0000724910-14-000046`
Period End Date	20140930
Filing Date	20141022
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	nvec-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 68 Cash Flow Statement 50 Comprehensive Income 12

Balance Sheet 60 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`	$1.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	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`	$12.36M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short term	`MarketableSecuritiesCurrent`	$14.62M	USD	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`	$3.68M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.33M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	4.85M	shares	Point-in-time
Inventories	`InventoryNet`	$3.39M	USD	Point-in-time
Inventories	`InventoryNet`	$3.21M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.85M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$169.67K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$237.39K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$848.53K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$816.28K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.99M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.54M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.56M	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`	$10.04M	USD	Point-in-time
Gross fixed assets	`PropertyPlantAndEquipmentGross`	$10.06M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$7.03M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$7.50M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.00M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$2.57M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$84.55M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$82.02M	USD	Point-in-time
Total assets	`Assets`	$113.11M	USD	Point-in-time
Total assets	`Assets`	$105.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$337.46K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$374.13K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$855.93K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$808.67K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.18M	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$354.60K	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$224.77K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,857,953 issued and outstanding as of September 30, 2014 and 4,851,043 issued and outstanding as of March 31, 2014	`CommonStockValue`	$48.51K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,857,953 issued and outstanding as of September 30, 2014 and 4,851,043 issued and outstanding as of March 31, 2014	`CommonStockValue`	$48.58K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.46M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$567.97K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$877.86K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$82.31M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$90.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$111.69M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$103.70M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$105.24M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$113.11M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$13.21M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$16.46M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$7.23M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$8.11M	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`	$258.52K	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$153.57K	USD	1 Quarter
Total revenue	`Revenues`	$8.27M	USD	1 Quarter
Total revenue	`Revenues`	$7.30M	USD	1 Quarter
Total revenue	`Revenues`	$16.72M	USD	2 Qtrs
Total revenue	`Revenues`	$13.48M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$2.88M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.50M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.17M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.60M	USD	2 Qtrs
Gross profit	`GrossProfit`	$13.55M	USD	2 Qtrs
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.26M	USD	2 Qtrs
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$625.60K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$660.08K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.21M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.59M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$876.46K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$787.28K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.84M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$2.85M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$1.41M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.54M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.05M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$10.71M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$5.24M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.26M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.54M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.11M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.05M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$562.92K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$520.80K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.78M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.59M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.82M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.81M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.91M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.79M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.93M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.88M	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$1.63	USD	2 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$1.19	USD	2 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$0.80	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$1.19	USD	2 Qtrs
Net income per share - diluted	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$1.63	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.88M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.88M	USD	1 Quarter
Depreciation	`Depreciation`	$464.52K	USD	2 Qtrs
Depreciation	`Depreciation`	$380.27K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$58.96K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.20K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$24.29K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$138.99K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$28.46K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.35M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$509.63K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$182.06K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-236.15K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-63.34K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$32.25K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-54.23K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.59K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.00M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.99M	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.71K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$11.53M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$9.28M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$4.00M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$5.86M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.31M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.68M	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$302.70K	USD	2 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$24.29K	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`	$326.99K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.02M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-948.11K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	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`	$3.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	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`	$3.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$3.76M	USD	2 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$2.84M	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.88M	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`	$-404.73K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-309.88K	USD	2 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$244.39K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.47M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$7.60M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$5.19M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.47M	USD	1 Quarter

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