$NVEC
NVE CORP /NEW/

2018 Q1 Form 10-K Financial Statement

#000072491018000008 Filed on May 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2018 2017 Q1
Revenue $7.900M $29.86M $6.850M
YoY Change 15.33% 5.43% 12.3%
Cost Of Revenue $1.470M $6.275M $1.450M
YoY Change 1.38% 3.23% -1.36%
Gross Profit $6.430M $23.59M $5.400M
YoY Change 19.07% 6.03% 16.63%
Gross Profit Margin 81.39% 78.99% 78.83%
Selling, General & Admin $370.0K $1.436M $340.0K
YoY Change 8.82% -1.58% 0.0%
% of Gross Profit 5.75% 6.09% 6.3%
Research & Development $910.0K $3.703M $990.0K
YoY Change -8.08% 10.73% -1.98%
% of Gross Profit 14.15% 15.7% 18.33%
Depreciation & Amortization $250.0K $979.7K $280.0K
YoY Change -10.71% -14.62% 27.27%
% of Gross Profit 3.89% 4.15% 5.19%
Operating Expenses $1.280M $5.139M $1.330M
YoY Change -3.76% 6.99% -1.48%
Operating Profit $5.150M $18.45M $4.070M
YoY Change 26.54% 5.76% 24.09%
Interest Expense $400.0K $1.560M $390.0K
YoY Change 2.56% -5.45% -17.02%
% of Operating Profit 7.77% 8.45% 9.58%
Other Income/Expense, Net
YoY Change
Pretax Income $5.550M $20.01M $4.460M
YoY Change 24.44% 4.78% 18.93%
Income Tax $1.670M $6.096M $1.430M
% Of Pretax Income 30.09% 30.47% 32.06%
Net Earnings $3.880M $13.91M $3.030M
YoY Change 28.05% 7.44% 16.54%
Net Earnings / Revenue 49.11% 46.59% 44.23%
Basic Earnings Per Share $2.87
Diluted Earnings Per Share $800.0K $2.87 $626.0K
COMMON SHARES
Basic Shares Outstanding 4.841M
Diluted Shares Outstanding 4.846M

Balance Sheet

Concept 2018 Q1 2018 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.50M $25.50M $27.80M
YoY Change -8.27% -8.27% 2.21%
Cash & Equivalents $4.755M $4.800M $8.199M
Short-Term Investments $20.80M $20.80M $19.60M
Other Short-Term Assets $600.0K $600.0K $600.0K
YoY Change 0.0% 0.0% -14.29%
Inventory $3.650M $3.700M $3.358M
Prepaid Expenses
Receivables $2.889M $2.900M $3.437M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $32.70M $32.70M $35.19M
YoY Change -7.1% -7.1% 5.32%
LONG-TERM ASSETS
Property, Plant & Equipment $1.325M $1.300M $1.413M
YoY Change -6.22% -7.14% -16.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $52.80M $52.80M $56.80M
YoY Change -7.04% -7.04% -13.55%
Other Assets $600.0K $600.0K $400.0K
YoY Change 50.0% 50.0% 300.0%
Total Long-Term Assets $54.74M $54.70M $58.58M
YoY Change -6.56% -6.66% -13.13%
TOTAL ASSETS
Total Short-Term Assets $32.70M $32.70M $35.19M
Total Long-Term Assets $54.74M $54.70M $58.58M
Total Assets $87.43M $87.40M $93.77M
YoY Change -6.76% -6.82% -7.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $415.0K $400.0K $376.3K
YoY Change 10.28% 0.0% 18.33%
Accrued Expenses $600.0K $600.0K $600.0K
YoY Change 0.0% 0.0% 0.0%
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 $989.7K $1.000M $1.095M
YoY Change -9.64% -9.09% -31.09%
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 $989.7K $1.000M $1.095M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.000M $1.000M $1.100M
YoY Change -9.09% -9.09% -31.25%
SHAREHOLDERS EQUITY
Retained Earnings $67.71M $73.16M
YoY Change -7.45% -8.04%
Common Stock $19.65M $19.56M
YoY Change 0.47% 1.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $86.44M $86.40M $92.68M
YoY Change
Total Liabilities & Shareholders Equity $87.43M $87.40M $93.77M
YoY Change -6.76% -6.82% -7.02%

Cashflow Statement

Concept 2018 Q1 2018 2017 Q1
OPERATING ACTIVITIES
Net Income $3.880M $13.91M $3.030M
YoY Change 28.05% 7.44% 16.54%
Depreciation, Depletion And Amortization $250.0K $979.7K $280.0K
YoY Change -10.71% -14.62% 27.27%
Cash From Operating Activities $3.830M $15.15M $1.370M
YoY Change 179.56% 22.4% -43.15%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $604.8K -$320.0K
YoY Change -100.0% 16.34% 190.91%
Acquisitions
YoY Change
Other Investing Activities $1.040M $1.320M $8.000M
YoY Change -87.0% -83.23% 15.11%
Cash From Investing Activities $1.040M $717.8K $7.680M
YoY Change -86.46% -90.24% 12.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$51.04K
YoY Change -79.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.840M -19.31M -4.660M
YoY Change 3.86% 1.3% -12.08%
NET CHANGE
Cash From Operating Activities 3.830M 15.15M 1.370M
Cash From Investing Activities 1.040M 717.8K 7.680M
Cash From Financing Activities -4.840M -19.31M -4.660M
Net Change In Cash 30.00K -3.444M 4.390M
YoY Change -99.32% -618.12% 11.14%
FREE CASH FLOW
Cash From Operating Activities $3.830M $15.15M $1.370M
Capital Expenditures $0.00 $604.8K -$320.0K
Free Cash Flow $3.830M $14.55M $1.690M
YoY Change 126.63% 22.66% -32.94%

Facts In Submission

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CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5884782
CY2018 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
206693
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
206693
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
CY2018 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
495361
CY2017 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
536063
CY2016 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
476932
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6282771
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6645733
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6272341
CY2018 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
187
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-41437
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-24513
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
103240
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
83116
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
118057
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
5966425
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
6040000
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
5810000
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
37137
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
77924
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-611290
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-548023
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1192716
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-719888
CY2018 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-142733
CY2017 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-572072
CY2016 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
714805
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
292141
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
153065
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-537259
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
27877
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-127241
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
159611
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4865
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1787
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2393
CY2018Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
737917
CY2017Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
602533
CY2018Q1 us-gaap Inventory Net
InventoryNet
3650439
CY2017Q1 us-gaap Inventory Net
InventoryNet
3358298
CY2018Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1084030
CY2017Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
786775
CY2018Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1828492
CY2017Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1968990
CY2018 us-gaap Investment Income Interest
InvestmentIncomeInterest
1558197
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
1650808
CY2016 us-gaap Investment Income Interest
InvestmentIncomeInterest
1890817
CY2018Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1749284
CY2017Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1644419
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
87431465
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
93774806
CY2018Q1 us-gaap Liabilities Current
LiabilitiesCurrent
989725
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1095321
CY2018Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
9395987
CY2017Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
9007455
CY2018Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
20765809
CY2017Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
19591833
CY2018Q1 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
52838158
CY2017Q1 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
56810923
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19314000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19066314
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21081334
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
717790
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
7351925
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4869636
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15151928
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12379160
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14309029
CY2018 us-gaap Net Income Loss
NetIncomeLoss
13912672
CY2017 us-gaap Net Income Loss
NetIncomeLoss
12948869
CY2016 us-gaap Net Income Loss
NetIncomeLoss
12292315
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018 us-gaap Open Tax Year
OpenTaxYear
1999
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
807395
CY2018 us-gaap Operating Expenses
OperatingExpenses
5138510
CY2017 us-gaap Operating Expenses
OperatingExpenses
4802699
CY2016 us-gaap Operating Expenses
OperatingExpenses
4814146
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
18450627
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
17445203
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
16286280
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
290221
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
223019
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
294155
CY2018 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-877337
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-489657
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-295088
CY2018 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
CY2017 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
CY2018 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
278429
CY2017 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
271470
CY2016 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
270627
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2311673
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19365040
CY2017 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19346040
CY2016 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19414864
CY2018 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
18217410
CY2017 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
11528240
CY2016 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
14568089
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
604800
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
519835
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
287275
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
635160
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
607283
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
51040
CY2017 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
247110
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
292909
CY2018 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
19540000
CY2017 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
19400000
CY2016 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
19725000
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11145271
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10651874
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1325383
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1413248
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3702918
CY2017 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3344101
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3061184
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
67709657
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
73162025
CY2018 us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Revenue Recognition</div><br /> <div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Product Sales Revenue Recognition</div></div><br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We recognize product sales revenue when evidence of an arrangement exists, the price to the buyer is fixed and determinable, collectability is reasonably assured and the product has shipped. Our sales are shipped FOB shipping point, meaning that our customers (end users and distributors) take title and assume the risks and rewards of ownership on shipment. Our customers <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>return defective products for refund or replacement under warranty, and have other very limited rights of return.<br /> <br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shipping charges billed to customers are included in product sales and the related shipping costs are included in selling, general, and administrative expense. Such shipping costs were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8,420</div> for fiscal <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$12,760</div> for fiscal <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$20,721</div> for fiscal <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div><br /> <br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our stocking distributors take title and assume the risks and rewards of product ownership. Payments from our distributors are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> contingent on resale or any other matter other than the passage of time, and delivery of products is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> dependent on the number of units resold to the ultimate customer. There are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> other significant acceptance criteria, pricing or payment terms that would affect revenue recognition.</div></div></div></div></div></div></div></div></div>
CY2018 us-gaap Revenue Recognition Services Commissions
RevenueRecognitionServicesCommissions
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Accounting for Commissions and Discounts</div></div><br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We sometimes utilize independent sales representatives that provide services relating to promoting our products and facilitating product sales but do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> purchase our products. We pay commissions to sales representatives based on the amount of revenue facilitated, and such commissions are recorded as selling, general, and administrative expenses. Under certain limited circumstances, our distributors <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>earn commissions for activities unrelated to their purchases of our products, such as for facilitating the sale of custom products or research and development contracts with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties. We recognize any such commissions as selling, general, and administrative expenses.<br /> <br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We presume consideration given to a customer is a reduction in revenue unless both of the following conditions are met: (i)&nbsp;we receive an identifiable benefit in exchange for the consideration and the identifiable benefit is sufficiently separable from the customer&#x2019;s purchase of our products such that we could have purchased the products or services from a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party; and (ii)&nbsp;we can reasonably estimate the fair value of the benefit received. We recognize discounts provided to our distributors as reductions in revenue.</div></div></div></div></div></div></div></div>
CY2018 us-gaap Revenues
Revenues
29863881
CY2017 us-gaap Revenues
Revenues
28326196
CY2016 us-gaap Revenues
Revenues
27717278
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
34850
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1435592
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1458598
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1752962
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
40920
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
22000
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
21160
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P5Y
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.053
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.07
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.071
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.28
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.27
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.26
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.018
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.01
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.016
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
482300
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y109D
CY2018Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
22000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y146D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y109D
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
0
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
0
CY2018Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
61.19
CY2018 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y219D
CY2018Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
292909
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
247110
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
51040
CY2016 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
2311673
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
86441740
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
92679485
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
108327534
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
99264587
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
92679485
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
86441740
CY2018Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt">Use of Estimates</div><br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div>
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4846212
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4838389
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4852602
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4841347
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4836602
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4850209

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