10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0000724910-17-000039`
Period End Date	20170930
Filing Date	20171018
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	nvec-20170930.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`	$7.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.69M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$16.92M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$19.59M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$3.44M	USD	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`	$2.66M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.36M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.50M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$523.19K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$607.28K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.19M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.01M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.45M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.73M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.64M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$11.18M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$10.65M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.56M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.24M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.41M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.62M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$357.06K	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$432.11K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$56.81M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$59.62M	USD	Point-in-time
Total assets	`Assets`	$90.40M	USD	Point-in-time
Total assets	`Assets`	$93.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$376.27K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$249.70K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$580.84K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$576.31K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$142.73K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$830.53K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,841,010 issued and outstanding as of September 30, 2017 and March 31, 2017	`CommonStockValue`	$48.41K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,841,010 issued and outstanding as of September 30, 2017 and March 31, 2017	`CommonStockValue`	$48.41K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.55M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.51M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$29.47K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-38.30K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$69.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$73.16M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$92.68M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$89.56M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$93.77M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$90.40M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$6.81M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$12.67M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$6.39M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$13.27M	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$488.15K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$1.34M	USD	2 Qtrs
Contract research and development	`ContractsRevenue`	$609.15K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$1.33M	USD	2 Qtrs
Total revenue	`Revenues`	$14.60M	USD	2 Qtrs
Total revenue	`Revenues`	$14.01M	USD	2 Qtrs
Total revenue	`Revenues`	$7.00M	USD	1 Quarter
Total revenue	`Revenues`	$7.30M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.74M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.35M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.13M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$3.15M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.45M	USD	2 Qtrs
Gross profit	`GrossProfit`	$10.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.64M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$343.69K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$733.60K	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$348.36K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$747.72K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.53M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$768.19K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.03M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.94M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$2.26M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$2.68M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$1.11M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.38M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.77M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$8.62M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.45M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.26M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$868.72K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$387.86K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$749.64K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$430.98K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.52M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.88M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.49M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.65M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.49M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.06M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.58M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.06M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.46M	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`	$0.65	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$1.33	USD	2 Qtrs
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`	$0.68	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.33	USD	2 Qtrs
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`	$1.00	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
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$2.00	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	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`	$6.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.46M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$480.14K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$392.55K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$22.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$40.92K	USD	2 Qtrs
Excess tax deficiencies	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-1.37K	USD	2 Qtrs
Excess tax deficiencies	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-64.92K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-113.72K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-777.18K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.12M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$146.18K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-296.35K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-84.09K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-36.74K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-674.00	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-122.05K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-142.73K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-330.93K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.32M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.67M	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$526.38K	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$153.10K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$12.14M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$6.93M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$11.94M	USD	2 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.20M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.12M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-725.34K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$42.45K	USD	2 Qtrs
Excess tax deficiencies	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	2 Qtrs
Excess tax deficiencies	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-1.37K	USD	2 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$9.68M	USD	2 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$9.67M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.68M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.63M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.09M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.84M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	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`	$7.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	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`	$2.98M	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`	$6.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.46M	USD	2 Qtrs
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-240.81K	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$67.77K	USD	2 Qtrs
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.74K	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-15.21K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.17M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.42M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.06M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.53M	USD	2 Qtrs

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