$NVEC
NVE CORP /NEW/

2015 Q4 Form 10-Q Financial Statement

#000072491016000044 Filed on January 20, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4
Revenue $6.016M $6.292M
YoY Change -4.38% -2.76%
Cost Of Revenue $1.508M $1.474M
YoY Change 2.36% 1.63%
Gross Profit $4.508M $4.818M
YoY Change -6.44% -4.02%
Gross Profit Margin 74.93% 76.58%
Selling, General & Admin $406.7K $533.7K
YoY Change -23.8% -1.17%
% of Gross Profit 9.02% 11.08%
Research & Development $738.7K $694.8K
YoY Change 6.32% -23.65%
% of Gross Profit 16.39% 14.42%
Depreciation & Amortization $220.0K $240.0K
YoY Change -8.33% 9.09%
% of Gross Profit 4.88% 4.98%
Operating Expenses $1.145M $1.228M
YoY Change -6.77% -15.28%
Operating Profit $3.362M $3.590M
YoY Change -6.33% 0.55%
Interest Expense $470.0K $560.0K
YoY Change -16.07% 5.66%
% of Operating Profit 13.98% 15.6%
Other Income/Expense, Net
YoY Change
Pretax Income $3.831M $4.147M
YoY Change -7.64% 0.91%
Income Tax $1.253M $1.355M
% Of Pretax Income 32.72% 32.66%
Net Earnings $2.577M $2.793M
YoY Change -7.71% 0.46%
Net Earnings / Revenue 42.84% 44.39%
Basic Earnings Per Share $0.53 $0.57
Diluted Earnings Per Share $0.53 $0.57
COMMON SHARES
Basic Shares Outstanding 4.845M 4.858M
Diluted Shares Outstanding 4.847M 4.876M

Balance Sheet

Concept 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.20M $23.40M
YoY Change 16.24% 90.24%
Cash & Equivalents $3.594M $11.80M
Short-Term Investments $23.60M $11.60M
Other Short-Term Assets $1.100M $1.700M
YoY Change -35.29% 21.43%
Inventory $3.109M $3.700M
Prepaid Expenses
Receivables $1.754M $1.900M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.14M $30.60M
YoY Change 8.31% 65.41%
LONG-TERM ASSETS
Property, Plant & Equipment $1.805M $2.400M
YoY Change -24.81% -22.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $68.10M $82.80M
YoY Change -17.75% 2.73%
Other Assets $100.0K
YoY Change
Total Long-Term Assets $70.03M $85.20M
YoY Change -17.8% 1.79%
TOTAL ASSETS
Total Short-Term Assets $33.14M $30.60M
Total Long-Term Assets $70.03M $85.20M
Total Assets $103.2M $115.8M
YoY Change -10.9% 13.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $209.7K $400.0K
YoY Change -47.58% 33.33%
Accrued Expenses $700.0K $800.0K
YoY Change -12.5% 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 $1.575M $1.200M
YoY Change 31.28% 9.09%
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 $1.575M $1.200M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.600M $1.400M
YoY Change 14.29% 0.0%
SHAREHOLDERS EQUITY
Retained Earnings $81.80M
YoY Change
Common Stock $19.71M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $101.6M $114.4M
YoY Change
Total Liabilities & Shareholders Equity $103.2M $115.8M
YoY Change -10.9% 13.31%

Cashflow Statement

Concept 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $2.577M $2.793M
YoY Change -7.71% 0.46%
Depreciation, Depletion And Amortization $220.0K $240.0K
YoY Change -8.33% 9.09%
Cash From Operating Activities $4.060M $3.850M
YoY Change 5.45% 0.52%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$80.00K
YoY Change -62.5% 166.67%
Acquisitions
YoY Change
Other Investing Activities -$8.310M $4.750M
YoY Change -274.95% -230.49%
Cash From Investing Activities -$8.340M $4.670M
YoY Change -278.59% -226.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.850M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 4.060M 3.850M
Cash From Investing Activities -8.340M 4.670M
Cash From Financing Activities -4.850M 0.000
Net Change In Cash -9.130M 8.520M
YoY Change -207.16% 2030.0%
FREE CASH FLOW
Cash From Operating Activities $4.060M $3.850M
Capital Expenditures -$30.00K -$80.00K
Free Cash Flow $4.090M $3.930M
YoY Change 4.07% 1.81%

Facts In Submission

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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
9613052
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
9136457
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
177449
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
114139
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
903568
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
574913
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
292909
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
302701
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
7825000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
8610000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10306673
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10129224
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1804671
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2255408
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
738657
CY2014Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
694758
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2048620
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2285465
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
81803198
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
86681745
CY2015Q4 us-gaap Revenues
Revenues
6016015
CY2014Q4 us-gaap Revenues
Revenues
6291748
us-gaap Revenues
Revenues
21616691
us-gaap Revenues
Revenues
23012156
CY2015Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5025041
CY2014Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5883690
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19197578
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
22345577
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
406676
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
533695
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1416071
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1788944
us-gaap Share Based Compensation
ShareBasedCompensation
21160
us-gaap Share Based Compensation
ShareBasedCompensation
58960
CY2009Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2500000
CY2015Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
5001189
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
101598970
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
108327534
CY2015Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2015Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4846970
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4876074
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4857103
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4871270
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4844845
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4857953
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4853970
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4854702

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