10-Q Filing

NVE CORP /NEW/ CIK: 724910 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000724910-19-000027`
Period End Date	20190630
Filing Date	20190717
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	nvec-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 40 Stockholders Equity 17 Comprehensive Income 6

Balance Sheet 68 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`	$8.45M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.04M	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$3.00M	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
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$2.75M	USD	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`	4.85M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.85M	shares	Point-in-time
Inventories	`InventoryNet`	$4.22M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.85M	shares	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`	$646.92K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$816.04K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.44M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.38M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.37M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.79M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.79M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$11.17M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$11.15M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.26M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.35M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$821.03K	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$894.84K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$353.74K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$194.74K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$54.93M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$58.61M	USD	Point-in-time
Right-of-use asset operating lease	`OperatingLeaseRightOfUseAsset`	$261.64K	USD	Point-in-time
Right-of-use asset operating lease	`OperatingLeaseRightOfUseAsset`	$225.37K	USD	Point-in-time
Total assets	`Assets`	$83.51M	USD	Point-in-time
Total assets	`Assets`	$83.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$237.72K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$375.19K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$455.81K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$460.49K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$442.49K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	$172.80K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$835.68K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	$85.19K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$835.68K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.39M	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,846,010 issued and outstanding as of June 30, 2019 and March 31, 2019	`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 June 30, 2019 and March 31, 2019	`CommonStockValue`	$48.46K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.91M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-82.72K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$487.34K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$62.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$61.67M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$82.11M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$82.78M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$83.62M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$83.51M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$6.29M	USD	1 Quarter
Revenue	`Revenues`	$7.11M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.40M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.71M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$973.07K	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`	$330.01K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.32M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.39M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.90M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$459.04K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$424.77K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.36M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.82M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$751.20K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$873.84K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.61M	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.81	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`	$0.81	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.74	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`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.85M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$179.75K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$134.73K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-664.00	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-443.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$231.99K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-248.96K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-45.09K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-28.76K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-205.40K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-103.05K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$296.69K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$625.73K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.54M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.65M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.10K	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.98K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$3.01M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$3.37M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$9.50M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$7.30M	USD	1 Quarter
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.47M	USD	1 Quarter
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.89M	USD	1 Quarter
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$4.84M	USD	1 Quarter
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$4.85M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.85M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.84M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.16M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.70M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.88M	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`	$13.04M	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`	$6.88M	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`	$13.04M	USD	Point-in-time
Cash paid during the period for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$11.22K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$82.11M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$85.44M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$86.44M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$82.78M	USD	Point-in-time
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$570.06K	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-107.03K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.61M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.84M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$4.18M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStockCash`	$4.84M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStockCash`	$4.85M	USD	1 Quarter
Cumulative effect of accounting change	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	-	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$82.11M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$85.44M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$86.44M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$82.78M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.61M	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$570.06K	USD	1 Quarter
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-107.03K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.84M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$4.18M	USD	1 Quarter

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