10-K Filing

NVE CORP /NEW/ CIK: 724910 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0000724910-19-000010`
Period End Date	20190331
Filing Date	20190501
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	nvec-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 32 Cash Flow Statement 44 Stockholders Equity 21 Comprehensive Income 6

Balance Sheet 57 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`	$6.88M	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
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`	$12.49M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	6.00M	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`	$3.00M	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`	$2.89M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$3.65M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.85M	shares	Point-in-time
Inventories	`InventoryNet`	$4.26M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$816.04K	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`	$27.44M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.40M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.37M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.75M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.79M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$11.15M	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`	$10.26M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$894.84K	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$1.33M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$353.74K	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`	$54.93M	USD	Point-in-time
Total assets	`Assets`	$87.43M	USD	Point-in-time
Total assets	`Assets`	$83.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$375.19K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.97K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$460.49K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$574.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$989.73K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$835.68K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,846,010 issued and outstanding as of March 31, 2019 and 4,842,010 as of March 31, 2018	`CommonStockValue`	$48.46K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,846,010 issued and outstanding as of March 31, 2019 and 4,842,010 as of March 31, 2018	`CommonStockValue`	$48.42K	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`	$-82.72K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-915.63K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$62.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.71M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$82.78M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$86.44M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$83.62M	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`	$29.86M	USD	Annual
Revenue	`Revenues`	$26.47M	USD	Annual
Cost of sales	`CostOfRevenue`	$6.27M	USD	Annual
Cost of sales	`CostOfRevenue`	$5.22M	USD	Annual
Gross profit	`GrossProfit`	$21.26M	USD	Annual
Gross profit	`GrossProfit`	$23.59M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.11M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.70M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.22M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.44M	USD	Annual
Total expenses	`OperatingExpenses`	$5.14M	USD	Annual
Total expenses	`OperatingExpenses`	$5.33M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$18.45M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$15.92M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.56M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.79M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.71M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.01M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.20M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.10M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income	`NetIncomeLoss`	$13.91M	USD	Annual
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$2.87	USD	Annual
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$3.00	USD	Annual
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.87	USD	Annual
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.99	USD	Annual
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$4.00	USD	Annual
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$4.00	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	Annual

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income	`NetIncomeLoss`	$13.91M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$979.65K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$705.20K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$93.36K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$40.92K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-31.27K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$96.28K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$106.86K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-548.02K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$292.14K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$614.44K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$27.88K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$180.88K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$37.14K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-154.05K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-142.73K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.15M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.22M	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$604.80K	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$68.27K	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$13.67M	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$18.22M	USD	Annual
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$20.80M	USD	Annual
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$19.54M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.06M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$717.79K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$217.94K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$51.04K	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$19.37M	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$19.37M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.31M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.16M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.44M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.12M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.88M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$8.20M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$6.88M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$3.43M	USD	Annual
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$5.97M	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$82.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$86.44M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$92.68M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$217.94K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$51.04K	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-877.34K	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$893.27K	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income	`NetIncomeLoss`	$13.91M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$15.40M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$13.04M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$40.92K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$93.36K	USD	Annual
Cash dividends declared	`DividendsCommonStockCash`	$19.37M	USD	Annual
Cash dividends declared	`DividendsCommonStockCash`	$19.37M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$217.94K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$51.04K	USD	Annual
Cumulative effect of accounting change	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	-	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$82.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$86.44M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$92.68M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income	`NetIncomeLoss`	$13.91M	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-877.34K	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$893.27K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$15.40M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$13.04M	USD	Annual

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