10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000724910-16-000066`
Period End Date	20160630
Filing Date	20160720
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	nvec-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 36 Cash Flow Statement 48 Comprehensive Income 6

Balance Sheet 64 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`	$1.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$19.70M	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`	$19.56M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.65M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.24M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.21M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.19M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$734.52K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$701.87K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.01M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.84M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.84M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.54M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.54M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$10.38M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$10.38M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$8.69M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$8.88M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.69M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.50M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	-	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$51.19K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$65.70M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$71.17M	USD	Point-in-time
Total assets	`Assets`	$100.67M	USD	Point-in-time
Total assets	`Assets`	$100.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$297.83K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$317.99K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$556.67K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$591.82K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.28M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$714.80K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$714.80K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.89M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$520.00	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,835,010 issued and outstanding as of June 30, 2016 and March 31, 2016	`CommonStockValue`	$48.35K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,835,010 issued and outstanding as of June 30, 2016 and March 31, 2016	`CommonStockValue`	$48.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.21M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$676.96K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$451.36K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$77.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.56M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$97.79M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$99.26M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$100.85M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$100.67M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$5.85M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$7.74M	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$856.56K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$585.05K	USD	1 Quarter
Total revenue	`Revenues`	$6.71M	USD	1 Quarter
Total revenue	`Revenues`	$8.32M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.99M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.33M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$484.76K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$389.92K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$758.37K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$681.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.17M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.15M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.16M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.17M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$485.80K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$437.73K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.65M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.61M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.48M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.80M	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.65	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.78	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.65	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)	`CommonStockDividendsPerShareDeclared`	$1.00	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.00	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.80M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$206.75K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$193.98K	USD	1 Quarter
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Excess tax benefits	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$318.52K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-77.02K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$311.88K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$407.84K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$75.76K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-18.78K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-571.89K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-32.66K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$271.63K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.30M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$944.90K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.17M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.19M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$-412.00	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.06K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$4.98M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$-136.98K	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.40M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.51M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.98M	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$262.75K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	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`	$4.86M	USD	1 Quarter
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$4.84M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.84M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.83M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.85M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.63M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	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`	$7.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	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`	$7.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	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`	$3.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.80M	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-308.50K	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$225.60K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.49M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.36M	USD	1 Quarter

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