10-K Filing

NVE CORP /NEW/ CIK: 724910 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001437749-22-010855`
Period End Date	20220331
Filing Date	20220504
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	nvec20220331_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 32 Cash Flow Statement 42 Stockholders Equity 20 Comprehensive Income 6

Balance Sheet 65 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`	$10.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.43M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	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
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$7.68M	USD	Point-in-time
Marketable securities, short-term	`MarketableSecuritiesCurrent`	$20.84M	USD	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$4.70M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.83M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.83M	shares	Point-in-time
Accounts receivable, net of allowance for uncollectible accounts of $15,000	`AccountsReceivableNetCurrent`	$1.96M	USD	Point-in-time
Inventories	`InventoryNet`	$3.90M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time
Inventories	`InventoryNet`	$5.09M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$420.52K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$391.28K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.50M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.25M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$9.74M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.81M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$1.81M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$11.07M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$11.55M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.73M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$10.94M	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$336.68K	USD	Point-in-time
Net fixed assets	`PropertyPlantAndEquipmentNet`	$606.38K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$483.47K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$73.54K	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$24.31M	USD	Point-in-time
Marketable securities, long-term	`MarketableSecuritiesNoncurrent`	$47.04M	USD	Point-in-time
Right-of-use asset operating lease	`OperatingLeaseRightOfUseAsset`	$560.25K	USD	Point-in-time
Right-of-use asset operating lease	`OperatingLeaseRightOfUseAsset`	$689.22K	USD	Point-in-time
Total assets	`Assets`	$72.50M	USD	Point-in-time
Total assets	`Assets`	$67.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$336.59K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$943.53K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$540.47K	USD	Point-in-time
Accrued payroll and other	`EmployeeRelatedLiabilitiesCurrent`	$1.36M	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	$150.27K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityCurrent`	$156.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.03M	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	$446.02K	USD	Point-in-time
Operating lease	`OperatingLeaseLiabilityNoncurrent`	$581.46K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.90M	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,830,826 issued and outstanding as of March 31, 2022 and 4,833,232 as of March 31, 2021	`CommonStockValue`	$48.31K	USD	Point-in-time
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,830,826 issued and outstanding as of March 31, 2022 and 4,833,232 as of March 31, 2021	`CommonStockValue`	$48.33K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.26M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-318.12K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.10M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$45.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$50.40M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$78.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$70.89M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$64.57M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$67.47M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$72.50M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$26.99M	USD	Annual
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$21.37M	USD	Annual
Cost of sales	`CostOfRevenue`	$6.26M	USD	Annual
Cost of sales	`CostOfRevenue`	$4.12M	USD	Annual
Gross profit	`GrossProfit`	$20.72M	USD	Annual
Gross profit	`GrossProfit`	$17.24M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.93M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.18M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.47M	USD	Annual
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$1.32M	USD	Annual
Total expenses	`OperatingExpenses`	$4.50M	USD	Annual
Total expenses	`OperatingExpenses`	$4.40M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$16.33M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$12.74M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.50M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.17M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.24M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.50M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.99M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.55M	USD	Annual
Net income	`NetIncomeLoss`	$11.69M	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`	$2.42	USD	Annual
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.00	USD	Annual
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.42	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`	4.83M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.83M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.84M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.83M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.69M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$424.98K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$542.93K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$81.86K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$45.57K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-129.16K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$24.46K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.74M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-729.74K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.19M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$16.33K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-99.72K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-391.70K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.29M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$106.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.36M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.50M	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$484.58K	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$62.73K	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$10.51M	USD	Annual
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$7.50M	USD	Annual
Proceeds from maturities and sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$19.00M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$8.42M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.02M	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$163.52K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$91.42K	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$19.34M	USD	Annual
Payment of dividends to shareholders	`PaymentsOfDividendsCommonStock`	$19.33M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.43M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.50M	USD	Annual
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.36M	USD	Annual
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$22.17K	USD	Annual
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.07M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.45M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.43M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.07M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.45M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.43M	USD	Point-in-time
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$2.44M	USD	Annual
Cash paid during the year for income taxes	`IncomeTaxesPaid`	$2.52M	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Common stock per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$4.00	USD	Annual
Common stock per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$4.00	USD	Annual
Balance	`StockholdersEquity`	$78.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$70.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$64.57M	USD	Point-in-time
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$91.42K	USD	Annual
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$163.52K	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$584.60K	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.42M	USD	Annual
Net income	`NetIncomeLoss`	$11.69M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$12.28M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$13.09M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$45.57K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$81.86K	USD	Annual
Cash dividends declared ($4.00 per share of common stock)	`DividendsCommonStockCash`	$19.34M	USD	Annual
Cash dividends declared ($4.00 per share of common stock)	`DividendsCommonStockCash`	$19.33M	USD	Annual
Balance	`StockholdersEquity`	$78.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$70.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$64.57M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.69M	USD	Annual
Net income	`NetIncomeLoss`	$14.51M	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$584.60K	USD	Annual
Unrealized gain (loss) from marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.42M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.09M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.28M	USD	Annual

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