$NVEC
NVE CORP /NEW/

2019 Q2 Form 10-Q Financial Statement

#000072491019000027 Filed on July 17, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $6.295M $7.108M
YoY Change -11.44% -6.57%
Cost Of Revenue $1.092M $1.396M
YoY Change -21.77% -22.37%
Gross Profit $5.203M $5.712M
YoY Change -8.92% -1.68%
Gross Profit Margin 82.65% 80.36%
Selling, General & Admin $330.0K $328.8K
YoY Change 0.38% -17.68%
% of Gross Profit 6.34% 5.76%
Research & Development $973.1K $989.0K
YoY Change -1.61% 9.2%
% of Gross Profit 18.7% 17.32%
Depreciation & Amortization $134.7K $179.7K
YoY Change -25.04% -25.77%
% of Gross Profit 2.59% 3.15%
Operating Expenses $1.303M $1.318M
YoY Change -1.12% 0.97%
Operating Profit $3.900M $4.394M
YoY Change -11.25% -2.44%
Interest Expense $460.0K $420.0K
YoY Change 9.52% 16.67%
% of Operating Profit 11.8% 9.56%
Other Income/Expense, Net
YoY Change
Pretax Income $4.359M $4.819M
YoY Change -9.55% -0.97%
Income Tax $751.2K $873.8K
% Of Pretax Income 17.23% 18.13%
Net Earnings $3.607M $3.945M
YoY Change -8.56% 19.63%
Net Earnings / Revenue 57.31% 55.5%
Basic Earnings Per Share $0.74 $0.81
Diluted Earnings Per Share $0.74 $0.81
COMMON SHARES
Basic Shares Outstanding 4.846M 4.842M
Diluted Shares Outstanding 4.850M 4.850M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.00M $31.40M
YoY Change -49.04% 0.64%
Cash & Equivalents $13.04M $8.452M
Short-Term Investments $3.000M $22.90M
Other Short-Term Assets $600.0K $500.0K
YoY Change 20.0% -16.67%
Inventory $4.220M $3.622M
Prepaid Expenses
Receivables $2.747M $3.121M
Other Receivables $0.00 $0.00
Total Short-Term Assets $23.65M $38.65M
YoY Change -38.8% 1.13%
LONG-TERM ASSETS
Property, Plant & Equipment $821.0K $1.241M
YoY Change -33.86% -24.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.60M $46.60M
YoY Change 25.75% -12.57%
Other Assets $200.0K $600.0K
YoY Change -66.67% 50.0%
Total Long-Term Assets $59.85M $48.40M
YoY Change 23.66% -12.65%
TOTAL ASSETS
Total Short-Term Assets $23.65M $38.65M
Total Long-Term Assets $59.85M $48.40M
Total Assets $83.51M $87.05M
YoY Change -4.08% -7.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $237.7K $388.4K
YoY Change -38.8% 12.78%
Accrued Expenses $600.0K $500.0K
YoY Change 20.0% -16.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.309M $1.615M
YoY Change -18.98% -33.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $100.0K
YoY Change
Total Long-Term Liabilities $100.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.309M $1.615M
Total Long-Term Liabilities $100.0K $0.00
Total Liabilities $1.394M $1.600M
YoY Change -12.87% -33.33%
SHAREHOLDERS EQUITY
Retained Earnings $61.67M $66.87M
YoY Change -7.79% -6.63%
Common Stock $19.96M $19.65M
YoY Change 1.58% 0.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.11M $85.44M
YoY Change
Total Liabilities & Shareholders Equity $83.51M $87.05M
YoY Change -4.08% -7.02%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $3.607M $3.945M
YoY Change -8.56% 19.63%
Depreciation, Depletion And Amortization $134.7K $179.7K
YoY Change -25.04% -25.77%
Cash From Operating Activities $4.538M $4.650M
YoY Change -2.41% -10.97%
INVESTING ACTIVITIES
Capital Expenditures $16.10K $37.99K
YoY Change -57.61% -90.34%
Acquisitions
YoY Change
Other Investing Activities $6.490M $3.930M
YoY Change 65.14% -203.15%
Cash From Investing Activities $6.470M $3.889M
YoY Change 66.38% -192.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.846M -4.842M
YoY Change 0.08% 0.02%
NET CHANGE
Cash From Operating Activities 4.538M 4.650M
Cash From Investing Activities 6.470M 3.889M
Cash From Financing Activities -4.846M -4.842M
Net Change In Cash 6.162M 3.697M
YoY Change 66.69% -196.74%
FREE CASH FLOW
Cash From Operating Activities $4.538M $4.650M
Capital Expenditures $16.10K $37.99K
Free Cash Flow $4.522M $4.612M
YoY Change -1.96% -4.5%

Facts In Submission

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CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
894835
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
973067
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
989026
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
61665327
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
62903918
CY2019Q2 us-gaap Revenues
Revenues
6294696
CY2018Q2 us-gaap Revenues
Revenues
7107906
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
330009
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
328761
CY2019Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
82111683
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
82780211
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
82780211
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
82111683
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
86441740
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85437752
CY2019Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
442493
CY2019Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
30227
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4850388
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4850479
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4846010
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4842010

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