10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0000724910-16-000077`
Period End Date	20160930
Filing Date	20161019
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	nvec-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 72 Cash Flow Statement 54 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`	$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`	$7.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.69M	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$22.32M	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`	$19.70M	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
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$3.37M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.24M	USD	Point-in-time
Inventories	`InventoryNet`	$3.21M	USD	Point-in-time
Inventories	`InventoryNet`	$2.91M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	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`	$697.79K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.98M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.97M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$8.84M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.56M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.54M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$10.53M	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`	$9.08M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.69M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.45M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$51.19K	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$123.41K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$65.70M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$60.78M	USD	Point-in-time
Total assets	`Assets`	$100.85M	USD	Point-in-time
Total assets	`Assets`	$97.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$317.99K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$310.03K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$563.96K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$556.67K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$714.80K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$383.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,836,010 issued and outstanding as of September 30, 2016 and 4,835,010 issued and outstanding as of March 31, 2016	`CommonStockValue`	$48.36K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,836,010 issued and outstanding as of September 30, 2016 and 4,835,010 issued and outstanding as of March 31, 2016	`CommonStockValue`	$48.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.21M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$451.36K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$436.15K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$76.33M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$96.08M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$99.26M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$97.34M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$100.85M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$12.67M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$6.81M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$6.44M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$14.17M	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$1.34M	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$1.43M	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$488.15K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$843.09K	USD	1 Quarter
Total revenue	`Revenues`	$7.28M	USD	1 Quarter
Total revenue	`Revenues`	$15.60M	USD	2 Qtrs
Total revenue	`Revenues`	$7.30M	USD	1 Quarter
Total revenue	`Revenues`	$14.01M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.64M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.64M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.74M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.13M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.96M	USD	2 Qtrs
Gross profit	`GrossProfit`	$10.88M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.01M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$524.63K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$733.60K	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$343.69K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$768.19K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.31M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.53M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$628.96K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.15M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.11M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.32M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$2.26M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$8.62M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.48M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$9.64M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.45M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$468.53K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$954.33K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$868.72K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$430.98K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.95M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.60M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.49M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.88M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.06M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.48M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.58M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.31M	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`	$0.68	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$1.33	USD	2 Qtrs
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.68	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`	$1.46	USD	2 Qtrs
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`	$1.33	USD	2 Qtrs
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
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`	$2.00	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$392.55K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$414.63K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$21.16K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$22.00K	USD	2 Qtrs
Excess tax deficiencies (benefits)	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-1.37K	USD	2 Qtrs
Excess tax deficiencies (benefits)	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$352.29K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$340.61K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-64.92K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.12M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-181.01K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-594.62K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-296.35K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$60.41K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-36.74K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-412.77K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-674.00	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-330.93K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.67M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.84M	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$153.10K	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$146.50K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$6.93M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$-266.24K	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.20M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$6.25M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$6.37M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.12M	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$292.91K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$42.45K	USD	2 Qtrs
Excess tax (deficiencies) benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-1.37K	USD	2 Qtrs
Excess tax (deficiencies) benefits	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$352.29K	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`	$9.67M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-9.63M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-10.93M	USD	2 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.84M	USD	2 Qtrs
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.28M	USD	2 Qtrs
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`	$12.72M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.69M	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`	$12.72M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.69M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$3.04M	USD	2 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$3.24M	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-343.87K	USD	2 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-35.37K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-240.81K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-15.21K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.28M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.77M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.42M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.06M	USD	1 Quarter

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