$NVEC
NVE CORP /NEW/

2016 Q4 Form 10-Q Financial Statement

#000072491017000004 Filed on January 18, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q1 2015 Q4
Revenue $7.463M $6.100M $6.016M
YoY Change 24.05% -19.42% -4.38%
Cost Of Revenue $1.503M $1.470M $1.508M
YoY Change -0.37% 6.52% 2.36%
Gross Profit $5.960M $4.630M $4.508M
YoY Change 32.22% -25.2% -6.44%
Gross Profit Margin 79.86% 75.9% 74.93%
Selling, General & Admin $384.3K $340.0K $406.7K
YoY Change -5.5% -34.62% -23.8%
% of Gross Profit 6.45% 7.34% 9.02%
Research & Development $826.8K $1.010M $738.7K
YoY Change 11.94% 42.25% 6.32%
% of Gross Profit 13.87% 21.81% 16.39%
Depreciation & Amortization $480.0K $220.0K $220.0K
YoY Change 118.18% -4.35% -8.33%
% of Gross Profit 8.05% 4.75% 4.88%
Operating Expenses $1.211M $1.350M $1.145M
YoY Change 5.75% 8.87% -6.77%
Operating Profit $4.749M $3.280M $3.362M
YoY Change 41.23% -33.74% -6.33%
Interest Expense $400.0K $470.0K $470.0K
YoY Change -14.89% -9.62% -16.07%
% of Operating Profit 8.42% 14.33% 13.98%
Other Income/Expense, Net
YoY Change
Pretax Income $5.144M $3.750M $3.831M
YoY Change 34.28% -31.44% -7.64%
Income Tax $1.660M $1.150M $1.253M
% Of Pretax Income 32.27% 30.67% 32.72%
Net Earnings $3.484M $2.600M $2.577M
YoY Change 35.16% -28.96% -7.71%
Net Earnings / Revenue 46.68% 42.62% 42.84%
Basic Earnings Per Share $0.72 $0.53
Diluted Earnings Per Share $0.72 $537.2K $0.53
COMMON SHARES
Basic Shares Outstanding 4.836M 4.845M
Diluted Shares Outstanding 4.840M 4.847M

Balance Sheet

Concept 2016 Q4 2016 Q1 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.50M $27.20M $27.20M
YoY Change 4.78% -7.8% 16.24%
Cash & Equivalents $3.799M $7.535M $3.594M
Short-Term Investments $24.70M $19.70M $23.60M
Other Short-Term Assets $800.0K $700.0K $1.100M
YoY Change -27.27% 0.0% -35.29%
Inventory $3.162M $3.205M $3.109M
Prepaid Expenses
Receivables $1.462M $2.244M $1.754M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $33.83M $33.42M $33.14M
YoY Change 2.07% -9.49% 8.31%
LONG-TERM ASSETS
Property, Plant & Equipment $1.299M $1.692M $1.805M
YoY Change -28.02% -24.99% -24.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $59.70M $65.70M $68.10M
YoY Change -12.33% -7.33% -17.75%
Other Assets $400.0K $100.0K $100.0K
YoY Change 300.0%
Total Long-Term Assets $61.41M $67.44M $70.03M
YoY Change -12.3% -7.83% -17.8%
TOTAL ASSETS
Total Short-Term Assets $33.83M $33.42M $33.14M
Total Long-Term Assets $61.41M $67.44M $70.03M
Total Assets $95.24M $100.9M $103.2M
YoY Change -7.69% -8.39% -10.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $358.5K $318.0K $209.7K
YoY Change 70.98% -11.38% -47.58%
Accrued Expenses $700.0K $600.0K $700.0K
YoY Change 0.0% -45.45% -12.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.038M $1.589M $1.575M
YoY Change -34.14% 6.97% 31.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.038M $1.589M $1.575M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.000M $1.600M $1.600M
YoY Change -37.5% -11.11% 14.29%
SHAREHOLDERS EQUITY
Retained Earnings $74.97M $79.56M $81.80M
YoY Change -8.35% -8.22%
Common Stock $19.37M $19.25M $19.71M
YoY Change -1.76% -7.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $94.21M $99.26M $101.6M
YoY Change
Total Liabilities & Shareholders Equity $95.24M $100.9M $103.2M
YoY Change -7.69% -8.39% -10.9%

Cashflow Statement

Concept 2016 Q4 2016 Q1 2015 Q4
OPERATING ACTIVITIES
Net Income $3.484M $2.600M $2.577M
YoY Change 35.16% -28.96% -7.71%
Depreciation, Depletion And Amortization $480.0K $220.0K $220.0K
YoY Change 118.18% -4.35% -8.33%
Cash From Operating Activities $5.340M $2.410M $4.060M
YoY Change 31.53% -40.05% 5.45%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$110.0K -$30.00K
YoY Change 66.67% 37.5% -62.5%
Acquisitions
YoY Change
Other Investing Activities -$2.400M $6.950M -$8.310M
YoY Change -71.12% 88.35% -274.95%
Cash From Investing Activities -$2.450M $6.840M -$8.340M
YoY Change -70.62% 88.95% -278.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.780M -5.300M -4.850M
YoY Change -1.44% -47.0%
NET CHANGE
Cash From Operating Activities 5.340M 2.410M 4.060M
Cash From Investing Activities -2.450M 6.840M -8.340M
Cash From Financing Activities -4.780M -5.300M -4.850M
Net Change In Cash -1.890M 3.950M -9.130M
YoY Change -79.3% -267.37% -207.16%
FREE CASH FLOW
Cash From Operating Activities $5.340M $2.410M $4.060M
Capital Expenditures -$50.00K -$110.0K -$30.00K
Free Cash Flow $5.390M $2.520M $4.090M
YoY Change 31.78% -38.54% 4.07%

Facts In Submission

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us-gaap Operating Income Loss
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CY2016Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-571862
CY2015Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-587068
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Payments To Acquire Marketable Securities
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11528240
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
9613052
us-gaap Payments To Acquire Property Plant And Equipment
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200447
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
177449
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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751433
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
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734524
us-gaap Proceeds From Issuance Of Common Stock
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92310
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
292909
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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11400000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
7825000
CY2016Q4 us-gaap Property Plant And Equipment Gross
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PropertyPlantAndEquipmentGross
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CY2016Q4 us-gaap Property Plant And Equipment Net
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1298914
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1691713
CY2016Q4 us-gaap Research And Development Expense
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826816
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
738657
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2353372
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2048620
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
74974652
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
79559196
CY2016Q4 us-gaap Revenues
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7462679
CY2015Q4 us-gaap Revenues
Revenues
6016015
us-gaap Revenues
Revenues
21472990
CY2016Q4 us-gaap Sales Revenue Goods Net
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7116931
CY2015Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5025041
us-gaap Revenues
Revenues
21616691
us-gaap Sales Revenue Goods Net
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19782529
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19197578
CY2016Q4 us-gaap Selling General And Administrative Expense
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384322
CY2015Q4 us-gaap Selling General And Administrative Expense
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406676
us-gaap Selling General And Administrative Expense
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1117925
us-gaap Selling General And Administrative Expense
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1416071
us-gaap Share Based Compensation
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22000
us-gaap Share Based Compensation
ShareBasedCompensation
21160
CY2016Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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0
CY2009Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2500000
CY2016Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4540806
CY2016Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
94206992
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
99264587
CY2016Q4 us-gaap Unrecognized Tax Benefits
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0
CY2016Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4839777
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4846970
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4837815
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4857103
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4836336
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4844845
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4835639
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4853970

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