$NVEC
NVE CORP /NEW/

2015 Q3 Form 10-Q Financial Statement

#000072491015000038 Filed on October 21, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $7.280M $8.267M
YoY Change -11.95% 13.25%
Cost Of Revenue $1.645M $1.610M
YoY Change 2.17% 7.31%
Gross Profit $5.635M $6.658M
YoY Change -15.36% 14.79%
Gross Profit Margin 77.41% 80.53%
Selling, General & Admin $524.6K $625.6K
YoY Change -16.14% -5.21%
% of Gross Profit 9.31% 9.4%
Research & Development $629.0K $787.3K
YoY Change -20.11% -10.54%
% of Gross Profit 11.16% 11.83%
Depreciation & Amortization $200.0K $230.0K
YoY Change -13.04% 21.05%
% of Gross Profit 3.55% 3.45%
Operating Expenses $1.154M $1.413M
YoY Change -18.35% -8.25%
Operating Profit $4.482M $5.245M
YoY Change -14.55% 23.12%
Interest Expense $470.0K $560.0K
YoY Change -16.07% 7.69%
% of Operating Profit 10.49% 10.68%
Other Income/Expense, Net
YoY Change
Pretax Income $4.950M $5.808M
YoY Change -14.77% 21.5%
Income Tax $1.639M $1.932M
% Of Pretax Income 33.12% 33.27%
Net Earnings $3.311M $3.876M
YoY Change -14.57% 19.99%
Net Earnings / Revenue 45.48% 46.88%
Basic Earnings Per Share $0.68 $0.80
Diluted Earnings Per Share $0.68 $0.80
COMMON SHARES
Basic Shares Outstanding 4.855M 4.855M
Diluted Shares Outstanding 4.858M 4.872M

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.90M $17.90M
YoY Change 100.56% 80.81%
Cash & Equivalents $12.72M $3.282M
Short-Term Investments $23.20M $14.60M
Other Short-Term Assets $700.0K $1.000M
YoY Change -30.0% -16.67%
Inventory $3.148M $3.400M
Prepaid Expenses
Receivables $2.783M $3.700M
Other Receivables $0.00 $0.00
Total Short-Term Assets $42.57M $26.00M
YoY Change 63.72% 51.16%
LONG-TERM ASSETS
Property, Plant & Equipment $1.987M $2.600M
YoY Change -23.57% -21.21%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $60.80M $84.60M
YoY Change -28.13% 6.95%
Other Assets
YoY Change
Total Long-Term Assets $62.77M $87.10M
YoY Change -27.94% 5.7%
TOTAL ASSETS
Total Short-Term Assets $42.57M $26.00M
Total Long-Term Assets $62.77M $87.10M
Total Assets $105.3M $113.1M
YoY Change -6.87% 13.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $445.1K $300.0K
YoY Change 48.36% -25.0%
Accrued Expenses $600.0K $900.0K
YoY Change -33.33% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.073M $1.200M
YoY Change -10.57% -7.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.073M $1.200M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.100M $1.400M
YoY Change -21.43% -17.65%
SHAREHOLDERS EQUITY
Retained Earnings $84.07M
YoY Change
Common Stock $19.71M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $104.2M $111.7M
YoY Change
Total Liabilities & Shareholders Equity $105.3M $113.1M
YoY Change -6.87% 13.55%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $3.311M $3.876M
YoY Change -14.57% 19.99%
Depreciation, Depletion And Amortization $200.0K $230.0K
YoY Change -13.04% 21.05%
Cash From Operating Activities $2.670M $2.520M
YoY Change 5.95% 6.33%
INVESTING ACTIVITIES
Capital Expenditures -$130.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $3.980M -$2.880M
YoY Change -238.19% 58.24%
Cash From Investing Activities $3.860M -$2.880M
YoY Change -234.03% 58.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.100M 330.0K
YoY Change -1948.48% -126.19%
NET CHANGE
Cash From Operating Activities 2.670M 2.520M
Cash From Investing Activities 3.860M -2.880M
Cash From Financing Activities -6.100M 330.0K
Net Change In Cash 430.0K -30.00K
YoY Change -1533.33% -95.77%
FREE CASH FLOW
Cash From Operating Activities $2.670M $2.520M
Capital Expenditures -$130.0K $0.00
Free Cash Flow $2.800M $2.520M
YoY Change 11.11% 6.33%

Facts In Submission

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ProceedsFromIssuanceOfCommonStock
292909
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
302701
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
6250000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
4000000
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10275729
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10129224
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1987279
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2255408
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
628962
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
787279
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
8113806
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1309963
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1590707
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
14172537
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
84070592
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
86681745
CY2015Q3 us-gaap Revenues
Revenues
7279757
CY2014Q3 us-gaap Revenues
Revenues
8267373
us-gaap Revenues
Revenues
15600676
us-gaap Revenues
Revenues
16720408
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6436672
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
16461887
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
524631
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
625599
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1009395
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1255249
us-gaap Share Based Compensation
ShareBasedCompensation
21160
us-gaap Share Based Compensation
ShareBasedCompensation
58960
CY2009Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2500000
CY2015Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
5001189
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
104187586
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
108327534
CY2015Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1235406
CY2015Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2015Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4858133
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4872029
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4862431
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4868769
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4855398
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4855071
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4858557
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4853068

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