$NVEC
NVE CORP /NEW/

2017 Q3 Form 10-Q Financial Statement

#000072491017000039 Filed on October 18, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $6.996M $7.303M
YoY Change -4.19% 0.31%
Cost Of Revenue $1.353M $1.741M
YoY Change -22.27% 5.86%
Gross Profit $5.643M $5.562M
YoY Change 1.46% -1.3%
Gross Profit Margin 80.66% 76.16%
Selling, General & Admin $348.4K $343.7K
YoY Change 1.36% -34.49%
% of Gross Profit 6.17% 6.18%
Research & Development $1.031M $768.2K
YoY Change 34.15% 22.14%
% of Gross Profit 18.26% 13.81%
Depreciation & Amortization $240.0K $200.0K
YoY Change 20.0% 0.0%
% of Gross Profit 4.25% 3.6%
Operating Expenses $1.379M $1.112M
YoY Change 24.01% -3.62%
Operating Profit $4.264M $4.450M
YoY Change -4.17% -0.71%
Interest Expense $390.0K $430.0K
YoY Change -9.3% -8.51%
% of Operating Profit 9.15% 9.66%
Other Income/Expense, Net
YoY Change
Pretax Income $4.652M $4.881M
YoY Change -4.69% -1.4%
Income Tax $1.491M $1.576M
% Of Pretax Income 32.05% 32.28%
Net Earnings $3.161M $3.305M
YoY Change -4.36% -0.17%
Net Earnings / Revenue 45.18% 45.26%
Basic Earnings Per Share $0.65 $0.68
Diluted Earnings Per Share $0.65 $0.68
COMMON SHARES
Basic Shares Outstanding 4.841M 4.836M
Diluted Shares Outstanding 4.846M 4.838M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.00M $28.00M
YoY Change -21.43% -22.01%
Cash & Equivalents $5.108M $5.691M
Short-Term Investments $16.90M $22.30M
Other Short-Term Assets $500.0K $700.0K
YoY Change -28.57% 0.0%
Inventory $3.504M $2.909M
Prepaid Expenses
Receivables $2.660M $3.368M
Other Receivables $0.00 $0.00
Total Short-Term Assets $28.72M $34.98M
YoY Change -17.91% -17.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.623M $1.452M
YoY Change 11.77% -26.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $59.60M $60.80M
YoY Change -1.97% 0.0%
Other Assets $400.0K $100.0K
YoY Change 300.0%
Total Long-Term Assets $61.68M $62.35M
YoY Change -1.08% -0.66%
TOTAL ASSETS
Total Short-Term Assets $28.72M $34.98M
Total Long-Term Assets $61.68M $62.35M
Total Assets $90.40M $97.34M
YoY Change -7.13% -7.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $249.7K $310.0K
YoY Change -19.46% -30.34%
Accrued Expenses $600.0K $600.0K
YoY Change 0.0% 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 $830.5K $1.258M
YoY Change -33.97% 17.21%
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 $830.5K $1.258M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $800.0K $1.300M
YoY Change -38.46% 18.18%
SHAREHOLDERS EQUITY
Retained Earnings $69.94M $76.33M
YoY Change -8.37% -9.21%
Common Stock $19.60M $19.32M
YoY Change 1.45% -2.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $89.56M $96.08M
YoY Change
Total Liabilities & Shareholders Equity $90.40M $97.34M
YoY Change -7.13% -7.59%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $3.161M $3.305M
YoY Change -4.36% -0.17%
Depreciation, Depletion And Amortization $240.0K $200.0K
YoY Change 20.0% 0.0%
Cash From Operating Activities $2.100M $1.480M
YoY Change 41.89% -44.57%
INVESTING ACTIVITIES
Capital Expenditures -$140.0K -$150.0K
YoY Change -6.67% 15.38%
Acquisitions
YoY Change
Other Investing Activities $3.610M $7.250M
YoY Change -50.21% 82.16%
Cash From Investing Activities $3.470M $7.100M
YoY Change -51.13% 83.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.840M -4.790M
YoY Change 1.04% -21.48%
NET CHANGE
Cash From Operating Activities 2.100M 1.480M
Cash From Investing Activities 3.470M 7.100M
Cash From Financing Activities -4.840M -4.790M
Net Change In Cash 730.0K 3.790M
YoY Change -80.74% 781.4%
FREE CASH FLOW
Cash From Operating Activities $2.100M $1.480M
Capital Expenditures -$140.0K -$150.0K
Free Cash Flow $2.240M $1.630M
YoY Change 37.42% -41.79%

Facts In Submission

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CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
523190
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
607283
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
42449
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
11940000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
9200000
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11178251
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10651874
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1623132
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1413248
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1030504
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
768188
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1936229
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1526556
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
69938655
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
73162025
CY2017Q3 us-gaap Revenues
Revenues
6996234
CY2016Q3 us-gaap Revenues
Revenues
7302539
us-gaap Revenues
Revenues
14603900
us-gaap Revenues
Revenues
14010311
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6387080
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6814384
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
13269753
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
12665598
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
348363
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
343688
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
747724
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
733603
us-gaap Share Based Compensation
ShareBasedCompensation
40920
us-gaap Share Based Compensation
ShareBasedCompensation
22000
CY2017Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0
CY2009Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2500000
CY2017Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4540806
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
89564800
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
92679485
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4845632
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4837819
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4845907
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4837293
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4841010
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4835564
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4841010
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4835289

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