$NVEC
NVE CORP /NEW/

2017 Q4 Form 10-Q Financial Statement

#000072491018000004 Filed on January 17, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $7.361M $7.463M
YoY Change -1.37% 24.05%
Cost Of Revenue $1.658M $1.503M
YoY Change 10.3% -0.37%
Gross Profit $5.703M $5.960M
YoY Change -4.31% 32.22%
Gross Profit Margin 77.48% 79.86%
Selling, General & Admin $313.0K $384.3K
YoY Change -18.55% -5.5%
% of Gross Profit 5.49% 6.45%
Research & Development $852.7K $826.8K
YoY Change 3.14% 11.94%
% of Gross Profit 14.95% 13.87%
Depreciation & Amortization $250.0K $480.0K
YoY Change -47.92% 118.18%
% of Gross Profit 4.38% 8.05%
Operating Expenses $1.166M $1.211M
YoY Change -3.75% 5.75%
Operating Profit $4.537M $4.749M
YoY Change -4.45% 41.23%
Interest Expense $400.0K $400.0K
YoY Change 0.0% -14.89%
% of Operating Profit 8.82% 8.42%
Other Income/Expense, Net
YoY Change
Pretax Income $4.942M $5.144M
YoY Change -3.93% 34.28%
Income Tax $1.370M $1.660M
% Of Pretax Income 27.73% 32.27%
Net Earnings $3.572M $3.484M
YoY Change 2.52% 35.16%
Net Earnings / Revenue 48.52% 46.68%
Basic Earnings Per Share $0.74 $0.72
Diluted Earnings Per Share $0.74 $0.72
COMMON SHARES
Basic Shares Outstanding 4.841M 4.836M
Diluted Shares Outstanding 4.847M 4.840M

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.50M $28.50M
YoY Change -17.54% 4.78%
Cash & Equivalents $4.728M $3.799M
Short-Term Investments $18.80M $24.70M
Other Short-Term Assets $1.000M $800.0K
YoY Change 25.0% -27.27%
Inventory $3.596M $3.162M
Prepaid Expenses
Receivables $2.166M $1.462M
Other Receivables $0.00 $0.00
Total Short-Term Assets $30.27M $33.83M
YoY Change -10.53% 2.07%
LONG-TERM ASSETS
Property, Plant & Equipment $1.515M $1.299M
YoY Change 16.6% -28.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $56.70M $59.70M
YoY Change -5.03% -12.33%
Other Assets $300.0K $400.0K
YoY Change -25.0% 300.0%
Total Long-Term Assets $58.58M $61.41M
YoY Change -4.62% -12.3%
TOTAL ASSETS
Total Short-Term Assets $30.27M $33.83M
Total Long-Term Assets $58.58M $61.41M
Total Assets $88.84M $95.24M
YoY Change -6.72% -7.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $258.9K $358.5K
YoY Change -27.8% 70.98%
Accrued Expenses $500.0K $700.0K
YoY Change -28.57% 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 $793.1K $1.038M
YoY Change -23.57% -34.14%
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 $793.1K $1.038M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $800.0K $1.000M
YoY Change -20.0% -37.5%
SHAREHOLDERS EQUITY
Retained Earnings $68.67M $74.97M
YoY Change -8.41% -8.35%
Common Stock $19.65M $19.37M
YoY Change 1.44% -1.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $88.05M $94.21M
YoY Change
Total Liabilities & Shareholders Equity $88.84M $95.24M
YoY Change -6.72% -7.69%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $3.572M $3.484M
YoY Change 2.52% 35.16%
Depreciation, Depletion And Amortization $250.0K $480.0K
YoY Change -47.92% 118.18%
Cash From Operating Activities $4.000M $5.340M
YoY Change -25.09% 31.53%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$50.00K
YoY Change 40.0% 66.67%
Acquisitions
YoY Change
Other Investing Activities $480.0K -$2.400M
YoY Change -120.0% -71.12%
Cash From Investing Activities $410.0K -$2.450M
YoY Change -116.73% -70.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.790M -4.780M
YoY Change 0.21% -1.44%
NET CHANGE
Cash From Operating Activities 4.000M 5.340M
Cash From Investing Activities 410.0K -2.450M
Cash From Financing Activities -4.790M -4.780M
Net Change In Cash -380.0K -1.890M
YoY Change -79.89% -79.3%
FREE CASH FLOW
Cash From Operating Activities $4.000M $5.340M
Capital Expenditures -$70.00K -$50.00K
Free Cash Flow $4.070M $5.390M
YoY Change -24.49% 31.78%

Facts In Submission

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PaymentsToAcquirePropertyPlantAndEquipment
200447
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
967958
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
607283
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
51040
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
92310
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
16540000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
11400000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11256629
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10651874
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1514579
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1413248
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
852739
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
826816
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2788968
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2353372
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
68669247
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
73162025
CY2017Q4 us-gaap Revenues
Revenues
7360789
CY2016Q4 us-gaap Revenues
Revenues
7462679
us-gaap Revenues
Revenues
21964689
us-gaap Revenues
Revenues
21472990
CY2017Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6448831
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7116931
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19718584
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19782529
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
92679485
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
313033
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
384322
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1060757
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1117925
us-gaap Share Based Compensation
ShareBasedCompensation
40920
us-gaap Share Based Compensation
ShareBasedCompensation
22000
CY2017Q4 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
CY2017Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4540806
CY2017Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
88050974
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4847290
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4839777
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4846036
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4837815
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4841369
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4836336
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4841130
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4835639

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