10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0000724910-15-000038`
Period End Date	20150930
Filing Date	20151021
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	nvec-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 72 Cash Flow Statement 52 Comprehensive Income 12

Balance Sheet 60 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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.72M	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
Marketable securities, short term	`MarketableSecuritiesCurrent`	$23.18M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.78M	USD	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
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.74M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.15M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$108.51K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetCurrent`	$102.05K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$635.32K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$574.91K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.57M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.74M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.60M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.52M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.54M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$10.13M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$10.28M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$8.29M	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`	$1.99M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$60.78M	USD	Point-in-time
Marketable securities, long term	`MarketableSecuritiesNoncurrent`	$70.91M	USD	Point-in-time
Total assets	`Assets`	$110.09M	USD	Point-in-time
Total assets	`Assets`	$105.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$445.08K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$358.82K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$628.10K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.07M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$74.27K	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; 4,844,845 issued and outstanding as of September 30, 2015 and 4,857,953 issued and outstanding as of March 31, 2015	`CommonStockValue`	$48.45K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,844,845 issued and outstanding as of September 30, 2015 and 4,857,953 issued and outstanding as of March 31, 2015	`CommonStockValue`	$48.58K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.67M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$402.58K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$746.45K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$84.07M	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`	$104.19M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$105.34M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$110.09M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$14.17M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$6.44M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$8.11M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$16.46M	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$843.09K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$258.52K	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$153.57K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$1.43M	USD	2 Qtrs
Total revenue	`Revenues`	$15.60M	USD	2 Qtrs
Total revenue	`Revenues`	$16.72M	USD	2 Qtrs
Total revenue	`Revenues`	$8.27M	USD	1 Quarter
Total revenue	`Revenues`	$7.28M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.64M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.61M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.17M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$3.64M	USD	2 Qtrs
Gross profit	`GrossProfit`	$11.96M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.55M	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.66M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.01M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$625.60K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.26M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$524.63K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$628.96K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.31M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$787.28K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.59M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$1.15M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.41M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.32M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$2.85M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$9.64M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.48M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.71M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$5.24M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.11M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$562.92K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$954.33K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$468.53K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.81M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.82M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.95M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.60M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.91M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.64M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.48M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.91M	USD	2 Qtrs
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$1.63	USD	2 Qtrs
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.68	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$1.46	USD	2 Qtrs
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.80	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.68	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.63	USD	2 Qtrs
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.46	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	-	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	-	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$2.00	USD	2 Qtrs
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.00	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.87M	shares	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.91M	USD	2 Qtrs
Depreciation	`Depreciation`	$464.52K	USD	2 Qtrs
Depreciation	`Depreciation`	$414.63K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$58.96K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$21.16K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$24.29K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$352.29K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$138.99K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$340.61K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-181.01K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.35M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$182.06K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-594.62K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$32.25K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$60.41K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-412.77K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.59K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.00M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.84M	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.71K	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$146.50K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$-266.24K	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`	$6.25M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.31M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$6.37M	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$302.70K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$292.91K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$352.29K	USD	2 Qtrs
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$24.29K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.85M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$9.73M	USD	2 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	-	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$326.99K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-10.93M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.02M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.28M	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`	$3.28M	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`	$12.72M	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`	$3.28M	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`	$12.72M	USD	Point-in-time
Cash paid during the quarter for income taxes	`IncomeTaxesPaid`	$3.24M	USD	2 Qtrs
Cash paid during the quarter for income taxes	`IncomeTaxesPaid`	$3.76M	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.88M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.91M	USD	2 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-309.88K	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`	$-35.37K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-343.87K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$7.60M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.47M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.28M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.77M	USD	2 Qtrs

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