10-K Filing

NVE CORP /NEW/ CIK: 724910 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0000724910-20-000015`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	nvec-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 32 Cash Flow Statement 44 Stockholders Equity 19 Comprehensive Income 6

Balance Sheet 66 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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.07M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$19.08M	USD	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 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`	$2.69M	USD	Point-in-time
Inventories	`InventoryNet`	$3.88M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.85M	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`	$655.84K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.44M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.28M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.37M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.80M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.79M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$11.15M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$11.08M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.26M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.49M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$894.84K	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$582.47K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$353.74K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$108.12K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$43.61M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$54.93M	USD	Point-in-time
Right-of-use asset operating lease	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right-of-use asset operating lease	`OperatingLeaseRightOfUseAsset`	$816.36K	USD	Point-in-time
Total assets	`Assets`	$83.62M	USD	Point-in-time
Total assets	`Assets`	$79.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$375.19K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$186.99K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$482.07K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$460.49K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	$127.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$835.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$796.20K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	$706.60K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$835.68K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.50M	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,835,038 issued and outstanding as of March 31, 2020 and 4,846,010 as of March 31, 2019	`CommonStockValue`	$48.46K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,835,038 issued and outstanding as of March 31, 2020 and 4,846,010 as of March 31, 2019	`CommonStockValue`	$48.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.38M	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`	$516.52K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$58.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$62.90M	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 shareholders equity	`StockholdersEquity`	$78.00M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$83.62M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$79.50M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$25.41M	USD	Annual
Revenue	`Revenues`	$26.47M	USD	Annual
Cost of sales	`CostOfRevenue`	$5.22M	USD	Annual
Cost of sales	`CostOfRevenue`	$4.89M	USD	Annual
Gross profit	`GrossProfit`	$20.52M	USD	Annual
Gross profit	`GrossProfit`	$21.26M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.11M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.69M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.32M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.22M	USD	Annual
Total expenses	`OperatingExpenses`	$5.01M	USD	Annual
Total expenses	`OperatingExpenses`	$5.33M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$15.51M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$15.92M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.79M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.79M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.30M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.71M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.78M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.20M	USD	Annual
Net income	`NetIncomeLoss`	$14.53M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$3.00	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`	$2.99	USD	Annual
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.00	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
Weighted average common shares outstanding basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	Annual
Weighted average common shares outstanding basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.85M	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`	$14.53M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$549.97K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$705.20K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$48.36K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$93.36K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-31.27K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$77.78K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-301.62K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$106.86K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-380.43K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$614.44K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$180.88K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$394.50K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$405.48K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-154.05K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.90M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.22M	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$68.27K	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$52.04K	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$7.20M	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$13.67M	USD	Annual
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$12.50M	USD	Annual
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$20.80M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.06M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.25M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$112.36K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$217.94K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$687.43K	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$19.38M	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$19.37M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.16M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.96M	USD	Annual
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.19M	USD	Annual
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.12M	USD	Annual
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 beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.07M	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 and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$8.07M	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`	$2.59M	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$82.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$86.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$78.00M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$112.36K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$217.94K	USD	Annual
Unrealized gain on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$893.27K	USD	Annual
Unrealized gain on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$599.25K	USD	Annual
Net income	`NetIncomeLoss`	$14.53M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.13M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.40M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$48.36K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$93.36K	USD	Annual
Cash dividends declared	`DividendsCommonStockCash`	$19.37M	USD	Annual
Cash dividends declared	`DividendsCommonStockCash`	$19.38M	USD	Annual
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$687.43K	USD	Annual
Balance	`StockholdersEquity`	$82.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$86.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$78.00M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.53M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Unrealized gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$893.27K	USD	Annual
Unrealized gain from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$599.25K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.13M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.40M	USD	Annual

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