$NVEC
NVE CORP /NEW/

2019 Q3 Form 10-Q Financial Statement

#000072491019000037 Filed on October 23, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $6.502M $7.506M
YoY Change -13.38% 7.29%
Cost Of Revenue $1.346M $1.353M
YoY Change -0.5% -0.02%
Gross Profit $5.156M $6.153M
YoY Change -16.21% 9.04%
Gross Profit Margin 79.3% 81.98%
Selling, General & Admin $368.5K $377.4K
YoY Change -2.38% 8.35%
% of Gross Profit 7.15% 6.13%
Research & Development $926.6K $972.0K
YoY Change -4.67% -5.68%
% of Gross Profit 17.97% 15.8%
Depreciation & Amortization $140.0K $180.0K
YoY Change -22.22% -25.0%
% of Gross Profit 2.72% 2.93%
Operating Expenses $1.295M $1.349M
YoY Change -4.03% -2.14%
Operating Profit $3.861M $4.804M
YoY Change -19.63% 12.65%
Interest Expense $460.0K $440.0K
YoY Change 4.55% 12.82%
% of Operating Profit 11.91% 9.16%
Other Income/Expense, Net
YoY Change
Pretax Income $4.317M $5.247M
YoY Change -17.72% 12.79%
Income Tax $495.0K $964.5K
% Of Pretax Income 11.47% 18.38%
Net Earnings $3.822M $4.283M
YoY Change -10.75% 35.48%
Net Earnings / Revenue 58.78% 57.06%
Basic Earnings Per Share $0.79 $0.88
Diluted Earnings Per Share $0.79 $0.88
COMMON SHARES
Basic Shares Outstanding 4.846M 4.843M
Diluted Shares Outstanding 4.848M 4.853M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.10M $30.00M
YoY Change -53.0% 36.36%
Cash & Equivalents $14.08M $6.048M
Short-Term Investments $0.00 $23.90M
Other Short-Term Assets $800.0K $700.0K
YoY Change 14.29% 40.0%
Inventory $4.355M $3.576M
Prepaid Expenses
Receivables $3.216M $3.045M
Other Receivables $0.00 $0.00
Total Short-Term Assets $22.49M $37.26M
YoY Change -39.63% 29.75%
LONG-TERM ASSETS
Property, Plant & Equipment $731.0K $1.117M
YoY Change -34.53% -31.21%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.80M $46.90M
YoY Change 25.37% -21.31%
Other Assets $100.0K $600.0K
YoY Change -83.33% 50.0%
Total Long-Term Assets $59.79M $48.60M
YoY Change 23.01% -21.2%
TOTAL ASSETS
Total Short-Term Assets $22.49M $37.26M
Total Long-Term Assets $59.79M $48.60M
Total Assets $82.28M $85.86M
YoY Change -4.17% -5.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $324.4K $253.7K
YoY Change 27.87% 1.6%
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 $923.8K $716.0K
YoY Change 29.03% -13.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $923.8K $716.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $966.6K $700.0K
YoY Change 38.08% -12.5%
SHAREHOLDERS EQUITY
Retained Earnings $60.64M $66.31M
YoY Change -8.55% -5.18%
Common Stock $20.01M $19.87M
YoY Change 0.71% 1.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $81.31M $85.15M
YoY Change
Total Liabilities & Shareholders Equity $82.28M $85.86M
YoY Change -4.17% -5.01%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $3.822M $4.283M
YoY Change -10.75% 35.48%
Depreciation, Depletion And Amortization $140.0K $180.0K
YoY Change -22.22% -25.0%
Cash From Operating Activities $2.880M $3.620M
YoY Change -20.44% 72.38%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $3.000M -$1.310M
YoY Change -329.01% -136.29%
Cash From Investing Activities $3.000M -$1.310M
YoY Change -329.01% -137.75%
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 -4.720M
YoY Change 2.54% -2.48%
NET CHANGE
Cash From Operating Activities 2.880M 3.620M
Cash From Investing Activities 3.000M -1.310M
Cash From Financing Activities -4.840M -4.720M
Net Change In Cash 1.040M -2.410M
YoY Change -143.15% -430.14%
FREE CASH FLOW
Cash From Operating Activities $2.880M $3.620M
Capital Expenditures $0.00 $0.00
Free Cash Flow $2.880M $3.620M
YoY Change -20.44% 61.61%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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8227659
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
3607419
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
3945049
us-gaap Open Tax Year
OpenTaxYear
2016 2017 2018
CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
1295046
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
1349411
us-gaap Operating Expenses
OperatingExpenses
2598122
us-gaap Operating Expenses
OperatingExpenses
2667198
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3860801
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4803819
us-gaap Operating Income Loss
OperatingIncomeLoss
7760384
us-gaap Operating Income Loss
OperatingIncomeLoss
9197933
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
38641
us-gaap Operating Lease Cost
OperatingLeaseCost
77282
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
298983
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
216634
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
173852
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
42782
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
43365
us-gaap Operating Lease Payments
OperatingLeasePayments
86730
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
261644
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
188743
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
178716
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
51237
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
748779
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-55790
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
570063
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-107027
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9692020
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9684020
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
3013530
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
6679727
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16100
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37985
CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
847259
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
816045
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
124450
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
12500000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
9300000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11169175
CY2019Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11153075
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
731001
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
894835
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
926596
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
971963
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1899663
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1960989
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
60641379
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
62903918
CY2019Q3 us-gaap Revenues
Revenues
6501945
CY2018Q3 us-gaap Revenues
Revenues
7506075
us-gaap Revenues
Revenues
12796641
us-gaap Revenues
Revenues
14613981
CY2019Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
368450
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
377448
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
698459
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
706209
us-gaap Share Based Compensation
ShareBasedCompensation
48360
us-gaap Share Based Compensation
ShareBasedCompensation
93360
CY2019Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
124450
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
81314811
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
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
81314811
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
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85147399
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
30227
us-gaap Variable Lease Cost
VariableLeaseCost
60454
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4847881
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4852644
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4849357
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4851072
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4846010
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4843032
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4846010
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4842524

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