10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0000724910-15-000024`
Period End Date	20150630
Filing Date	20150722
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	nvec-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 36 Cash Flow Statement 48 Comprehensive Income 6

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.00K	USD	Point-in-time
Allowance for uncollectible accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.44M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$17.56M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$20.10M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.87M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.96M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.86M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$3.04M	USD	Point-in-time
Inventories	`InventoryNet`	$3.17M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.87M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Inventories	`InventoryNet`	$3.74M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$147.22K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$102.05K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$846.55K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$574.91K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.92M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.60M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.63M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.52M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.52M	USD	Point-in-time
Property, Plant, and Equipment	`PropertyPlantAndEquipmentGross`	$10.13M	USD	Point-in-time
Property, Plant, and Equipment	`PropertyPlantAndEquipmentGross`	$10.15M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$8.08M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$7.87M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$2.26M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$2.07M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$70.91M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$70.43M	USD	Point-in-time
Total assets	`Assets`	$110.09M	USD	Point-in-time
Total assets	`Assets`	$109.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$358.82K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$386.56K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$568.82K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$1.13M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.48M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.49M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$138.20K	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$275.71K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,866,181 issued and outstanding as of June 30, 2015 and 4,857,953 issued and outstanding as of March 31, 2015	`CommonStockValue`	$48.58K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,866,181 issued and outstanding as of June 30, 2015 and 4,857,953 issued and outstanding as of March 31, 2015	`CommonStockValue`	$48.66K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.88M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$746.45K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$437.95K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$85.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$86.68M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$108.33M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$106.99M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$110.09M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$109.56M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$7.74M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$8.35M	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$585.05K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$104.95K	USD	1 Quarter
Total revenue	`Revenues`	$8.45M	USD	1 Quarter
Total revenue	`Revenues`	$8.32M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.56M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.89M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$629.65K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$484.76K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$803.43K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$681.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.43M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.17M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.46M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.16M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$548.55K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$485.80K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.65M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.01M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.84M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.04M	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.78	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.83	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.83	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.78	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.00	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.04M	USD	1 Quarter
Depreciation	`Depreciation`	$230.91K	USD	1 Quarter
Depreciation	`Depreciation`	$206.75K	USD	1 Quarter
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$318.52K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$56.57K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$311.88K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.46M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$75.76K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$85.42K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-571.89K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$149.27K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$271.63K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.85M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$944.90K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.48M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.17M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.71K	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.06K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$-136.98K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$6.40M	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$4.00M	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.40M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.43M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.51M	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$262.75K	USD	1 Quarter
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$318.52K	USD	1 Quarter
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$556.79K	USD	1 Quarter
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$4.86M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.83M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.85M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.05M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	USD	Point-in-time
Cash paid during the quarter for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid during the quarter for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.04M	USD	1 Quarter
Unrealized (loss) gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$94.85K	USD	1 Quarter
Unrealized (loss) gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-308.50K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.49M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$4.13M	USD	1 Quarter

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