10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0000724910-19-000004`
Period End Date	20181231
Filing Date	20190123
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	nvec-20181231.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`	$4.73M	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`	$6.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	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`	$17.45M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.72M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.85M	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 outstanding (in shares)	`CommonStockSharesOutstanding`	4.85M	shares	Point-in-time
Inventories	`InventoryNet`	$4.14M	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`	$755.81K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$635.16K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.70M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.43M	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`	$11.21M	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`	$10.19M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.02M	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`	$590.39K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$52.84M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$51.91M	USD	Point-in-time
Total assets	`Assets`	$87.43M	USD	Point-in-time
Total assets	`Assets`	$84.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.97K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$313.12K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$574.75K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$552.83K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$865.95K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$989.73K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,846,010 shares issued and outstanding as of Dec. 31, 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; 4,846,010 shares issued and outstanding as of Dec. 31, 2018 and 4,842,010 as of March 31, 2018	`CommonStockValue`	$48.46K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.91M	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`	$-929.90K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$64.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.71M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$83.92M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$86.44M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$87.43M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$84.79M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$7.36M	USD	1 Quarter
Revenue	`Revenues`	$21.96M	USD	3 Qtrs
Revenue	`Revenues`	$20.88M	USD	3 Qtrs
Revenue	`Revenues`	$6.27M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.92M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$1.17M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.66M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$4.81M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.97M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.16M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.79M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$852.74K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.09M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.13M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.06M	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$313.03K	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$975.11K	USD	3 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$268.90K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.17M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.40M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.06M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$3.85M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.70M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.90M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.54M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$13.31M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$404.67K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.15M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.33M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$457.20K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.46M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.94M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.23M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.16M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.58M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.43M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.37M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$739.92K	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.03M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.42M	USD	1 Quarter
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`	$0.71	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$2.41	USD	3 Qtrs
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`	$2.40	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`	$0.71	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.07	USD	3 Qtrs
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`	$3.00	USD	3 Qtrs
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`	4.85M	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`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	3 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.03M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$531.68K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$726.84K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$93.36K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$40.92K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-30.65K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$153.95K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-171.05K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.27M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$238.03K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$491.04K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$360.68K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$120.65K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-123.78K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-159.53K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-142.73K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.68M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.32M	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$68.27K	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$604.75K	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$11.65M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$16.26M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$16.54M	USD	3 Qtrs
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$15.80M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-320.96K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.08M	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$51.04K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$217.94K	USD	3 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$14.53M	USD	3 Qtrs
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$14.52M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.47M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.31M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.47M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.45M	USD	3 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`	$4.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.21M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	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`	$4.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.21M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$2.70M	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`	$11.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.03M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.42M	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$46.10K	USD	3 Qtrs
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-295.46K	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-227.69K	USD	3 Qtrs
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$101.89K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$9.80M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$11.70M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.52M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.28M	USD	1 Quarter

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