10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0000724910-18-000004`
Period End Date	20171231
Filing Date	20180117
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	nvec-20171231.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`	$3.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.73M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$18.81M	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$19.59M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$3.44M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.17M	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`	$3.60M	USD	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
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$967.96K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$607.28K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.19M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.50M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.01M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.75M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.64M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$10.65M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$11.26M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.74M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.24M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.51M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.41M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$357.06K	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$333.02K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$56.73M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$56.81M	USD	Point-in-time
Total assets	`Assets`	$93.77M	USD	Point-in-time
Total assets	`Assets`	$88.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$376.27K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$258.87K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$534.19K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$576.31K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$142.73K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$793.06K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,842,010 issued and outstanding as of December 31, 2017 and 4,841,010 issued and outstanding as of March 31, 2017	`CommonStockValue`	$48.41K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,842,010 issued and outstanding as of December 31, 2017 and 4,841,010 issued and outstanding as of March 31, 2017	`CommonStockValue`	$48.42K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.51M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-265.99K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-38.30K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$68.67M	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`	$88.05M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$93.77M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$88.84M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$6.45M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$19.72M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$19.78M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$7.12M	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$345.75K	USD	1 Quarter
Contract research and development	`ContractsRevenue`	$2.25M	USD	3 Qtrs
Contract research and development	`ContractsRevenue`	$1.69M	USD	3 Qtrs
Contract research and development	`ContractsRevenue`	$911.96K	USD	1 Quarter
Total revenue	`Revenues`	$21.47M	USD	3 Qtrs
Total revenue	`Revenues`	$7.36M	USD	1 Quarter
Total revenue	`Revenues`	$7.46M	USD	1 Quarter
Total revenue	`Revenues`	$21.96M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$4.63M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$4.81M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$1.50M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.84M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.96M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.16M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$313.03K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$384.32K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.12M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.06M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$826.82K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$852.74K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.35M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.79M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$3.85M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$3.47M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$1.21M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.17M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.54M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.75M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$13.37M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$13.31M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.15M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.26M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$404.67K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$395.21K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.94M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.14M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.46M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.64M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.66M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.43M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.72M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.03M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.92M	USD	3 Qtrs
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$2.07	USD	3 Qtrs
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$2.05	USD	3 Qtrs
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.72	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.74	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.07	USD	3 Qtrs
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.05	USD	3 Qtrs
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.74	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.72	USD	1 Quarter
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$3.00	USD	3 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`	$3.00	USD	3 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	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	3 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.03M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.92M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$726.84K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$868.22K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$22.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$40.92K	USD	3 Qtrs
Excess tax deficiencies	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	3 Qtrs
Excess tax deficiencies	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-293.00	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$153.95K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-61.08K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-782.43K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.27M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$238.03K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-42.76K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$16.91K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$360.68K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-159.53K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$162.91K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-142.73K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-714.80K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.01M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.32M	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$604.75K	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$200.45K	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$11.53M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$16.26M	USD	3 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$16.54M	USD	3 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$11.40M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-320.96K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-328.69K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$92.31K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$51.04K	USD	3 Qtrs
Excess tax (deficiencies)	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	3 Qtrs
Excess tax (deficiencies)	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-293.00	USD	3 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$14.52M	USD	3 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$14.51M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.41M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.47M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.74M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.47M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	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`	$7.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	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`	$7.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.73M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$4.72M	USD	3 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$4.62M	USD	3 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.03M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.92M	USD	3 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-571.86K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-587.07K	USD	3 Qtrs
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-295.46K	USD	1 Quarter
Unrealized loss from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-227.69K	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$9.33M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$9.80M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.28M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$2.91M	USD	1 Quarter

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