10-Q/A Filing

NVE CORP /NEW/ CIK: 724910 Q2 2019

Filing Information

Form Type	10-Q/A
Accession Number	`0000724910-18-000035`
Period End Date	20180930
Filing Date	20181015
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	nvec-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 64 Cash Flow Statement 48 Comprehensive Income 12

Balance Sheet 58 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`	$8.20M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.05M	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$23.94M	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
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.89M	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`	$3.05M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.65M	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
Inventories	`InventoryNet`	$3.58M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$650.75K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$635.16K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.26M	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`	$9.82M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.07M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.33M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.12M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$625.02K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$572.65K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$52.84M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$46.86M	USD	Point-in-time
Total assets	`Assets`	$87.43M	USD	Point-in-time
Total assets	`Assets`	$85.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$253.70K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.97K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$574.75K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$462.26K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$989.73K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$715.96K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,844,010 issued and outstanding as of Sept. 30, 2018 and 4,842,010 as of March 31, 2018	`CommonStockValue`	$48.42K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,844,010 issued and outstanding as of Sept. 30, 2018 and 4,842,010 as of March 31, 2018	`CommonStockValue`	$48.44K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.82M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-915.63K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$66.31M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$86.44M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$85.15M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$87.43M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$85.86M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$7.00M	USD	1 Quarter
Revenue	`Revenues`	$14.60M	USD	2 Qtrs
Revenue	`Revenues`	$7.51M	USD	1 Quarter
Revenue	`Revenues`	$14.61M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$3.15M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.35M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$2.75M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.87M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.15M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.45M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.94M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.96M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$971.96K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.03M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$377.45K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$747.72K	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$706.21K	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$348.36K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.38M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.68M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$1.35M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.67M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$8.77M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.26M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$9.20M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.80M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$443.32K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$749.64K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$868.10K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$387.86K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.52M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.65M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.25M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.07M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$964.53K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.49M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.84M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.06M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.46M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$8.23M	USD	2 Qtrs
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`	$1.70	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`	$0.88	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.88	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`	$1.70	USD	2 Qtrs
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.65	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`	$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
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
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	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	2 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.46M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$8.23M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$357.17K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$480.14K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$40.92K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$93.36K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-113.72K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-36.74K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$156.45K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-777.18K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-74.48K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$146.18K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-84.09K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.59K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-122.05K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-273.76K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-142.73K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.27M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.32M	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$526.38K	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.98K	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$12.14M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$6.68M	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`	$9.30M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.58M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-725.34K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$124.45K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$9.68M	USD	2 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$9.68M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.68M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.56M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.09M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.29M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.05M	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`	$5.11M	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`	$6.05M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$2.98M	USD	2 Qtrs
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$1.87M	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.46M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$8.23M	USD	2 Qtrs
Unrealized gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$12.74K	USD	1 Quarter
Unrealized gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$67.77K	USD	2 Qtrs
Unrealized gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$51.24K	USD	1 Quarter
Unrealized gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-55.79K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$8.17M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.17M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$6.53M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$4.33M	USD	1 Quarter

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