10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000724910-18-000022`
Period End Date	20180630
Filing Date	20180718
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	nvec-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 42 Comprehensive Income 6

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.38M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$20.77M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	shares	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$22.92M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.89M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$3.12M	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
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.62M	USD	Point-in-time
Inventories	`InventoryNet`	$3.65M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$635.16K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$532.11K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.65M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.40M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.40M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.75M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.79M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$11.18M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$11.15M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.94M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.82M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.24M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.33M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$572.65K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$603.07K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$52.84M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$46.56M	USD	Point-in-time
Total assets	`Assets`	$87.43M	USD	Point-in-time
Total assets	`Assets`	$87.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$388.41K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.97K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$507.03K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$574.75K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$720.01K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$989.73K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,842,010 issued and outstanding as of June 30, 2018 and March 31, 2018	`CommonStockValue`	$48.42K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,842,010 issued and outstanding as of June 30, 2018 and March 31, 2018	`CommonStockValue`	$48.42K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-915.63K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$66.87M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$86.44M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$85.44M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$87.05M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$87.43M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$7.61M	USD	1 Quarter
Revenue	`Revenues`	$7.11M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.80M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.71M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$905.73K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$989.03K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$328.76K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$399.36K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.32M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.31M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.39M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$361.78K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$424.77K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.82M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.87M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$873.84K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.30M	USD	1 Quarter
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`	$0.81	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.68	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`	4.84M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$179.75K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$242.16K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-84.21K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-443.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-305.84K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$231.99K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-109.55K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-28.76K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-9.33K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-103.05K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.45M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$625.73K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-107.10K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.65M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.22M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.98K	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$393.40K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$3.37M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$3.81M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$7.30M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.89M	USD	1 Quarter
Cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.20M	USD	1 Quarter
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$4.84M	USD	1 Quarter
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$4.84M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.84M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.84M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.82M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.70M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.45M	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`	$4.38M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.45M	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`	$4.38M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$11.22K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.30M	USD	1 Quarter
Unrealized (loss) gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$55.03K	USD	1 Quarter
Unrealized (loss) gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-107.03K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.35M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.84M	USD	1 Quarter

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