10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0000724910-15-000006`
Period End Date	20141231
Filing Date	20150121
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	nvec-20141231.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`	$11.80M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.96M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities, short term	`MarketableSecuritiesCurrent`	$12.36M	USD	Point-in-time
Marketable securities, short term	`MarketableSecuritiesCurrent`	$11.55M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00M	shares	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`	$1.86M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	4.85M	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`	$2.33M	USD	Point-in-time
Inventories	`InventoryNet`	$3.21M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.85M	shares	Point-in-time
Inventories	`InventoryNet`	$3.69M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$237.39K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$183.60K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$816.28K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.21M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.65M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.54M	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`	$10.15M	USD	Point-in-time
Gross fixed assets	`PropertyPlantAndEquipmentGross`	$10.04M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$7.73M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$7.03M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$2.42M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$3.00M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$82.02M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$82.80M	USD	Point-in-time
Total assets	`Assets`	$115.82M	USD	Point-in-time
Total assets	`Assets`	$105.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$374.13K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$360.99K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$808.67K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$801.67K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.18M	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$216.84K	USD	Point-in-time
Deferred Tax Liabilities, Net, Noncurrent	`DeferredTaxLiabilitiesNoncurrent`	$354.60K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,857,953 issued and outstanding as of December 31, 2014 and 4,851,043 issued and outstanding as of March 31, 2014	`CommonStockValue`	$48.58K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,857,953 issued and outstanding as of December 31, 2014 and 4,851,043 issued and outstanding as of March 31, 2014	`CommonStockValue`	$48.51K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.46M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.85M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$877.86K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$526.03K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$93.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$82.31M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$103.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$114.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$105.24M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$115.82M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$22.35M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$6.45M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$19.65M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$5.88M	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$25.29K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$408.06K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$297.65K	USD	3 Qtrs
Contract research and development	`ContractsRevenue`	$666.58K	USD	3 Qtrs
Total revenue	`Revenues`	$19.95M	USD	3 Qtrs
Total revenue	`Revenues`	$6.47M	USD	1 Quarter
Total revenue	`Revenues`	$6.29M	USD	1 Quarter
Total revenue	`Revenues`	$23.01M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$4.33M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$4.64M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$1.47M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.62M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.82M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.37M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.02M	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$533.70K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$543.70K	USD	1 Quarter
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.76M	USD	3 Qtrs
Selling, general , and administrative	`SellingGeneralAndAdministrativeExpense`	$1.79M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.74M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.29M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$905.25K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$694.76K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.23M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.50M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$4.07M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$1.45M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.58M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$11.12M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$14.30M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.59M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$557.84K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.58M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.67M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$530.38K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.70M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.97M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.15M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.11M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.35M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.26M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.12M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.71M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.57M	USD	3 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$1.77	USD	3 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Net income per share - basic	`EarningsPerShareBasic`	$2.21	USD	3 Qtrs
Net income per share - basic	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$1.76	USD	3 Qtrs
Net income per share - diluted	`EarningsPerShareDiluted`	$0.57	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$0.57	USD	1 Quarter
Net income per share - diluted	`EarningsPerShareDiluted`	$2.20	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.88M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$10.71M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.57M	USD	3 Qtrs
Depreciation	`Depreciation`	$601.24K	USD	3 Qtrs
Depreciation	`Depreciation`	$698.82K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.20K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$58.96K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$67.04K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$24.29K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$102.12K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$141.06K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-731.90K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-476.50K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-306.69K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$478.79K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$262.69K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$709.50K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-20.14K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-221.04K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.82M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.85M	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$114.14K	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.89K	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$17.88M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$9.14M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$8.61M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$8.55M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.36M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-640.60K	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$188.03K	USD	3 Qtrs
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$302.70K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$67.04K	USD	3 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$24.29K	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`	$-1.01M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$326.99K	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-548.40K	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.53M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.80M	USD	Point-in-time
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`	$1.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.80M	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`	$1.96M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$4.21M	USD	3 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$5.60M	USD	3 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$10.71M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.57M	USD	3 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-41.94K	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`	$-351.82K	USD	3 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-151.83K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$2.63M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$2.75M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$10.35M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$7.81M	USD	3 Qtrs

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