$NVEC
NVE CORP /NEW/

2020 Q3 Form 10-Q Financial Statement

#000072491020000040 Filed on October 21, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $4.381M $6.502M
YoY Change -32.62% -13.38%
Cost Of Revenue $941.3K $1.346M
YoY Change -30.07% -0.5%
Gross Profit $3.439M $5.156M
YoY Change -33.29% -16.21%
Gross Profit Margin 78.51% 79.3%
Selling, General & Admin $358.2K $368.5K
YoY Change -2.79% -2.38%
% of Gross Profit 10.41% 7.15%
Research & Development $816.0K $926.6K
YoY Change -11.94% -4.67%
% of Gross Profit 23.72% 17.97%
Depreciation & Amortization $130.0K $140.0K
YoY Change -7.14% -22.22%
% of Gross Profit 3.78% 2.72%
Operating Expenses $1.174M $1.295M
YoY Change -9.34% -4.03%
Operating Profit $2.265M $3.861M
YoY Change -41.32% -19.63%
Interest Expense $400.0K $460.0K
YoY Change -13.04% 4.55%
% of Operating Profit 17.66% 11.91%
Other Income/Expense, Net
YoY Change
Pretax Income $2.667M $4.317M
YoY Change -38.23% -17.72%
Income Tax $444.4K $495.0K
% Of Pretax Income 16.66% 11.47%
Net Earnings $2.222M $3.822M
YoY Change -41.85% -10.75%
Net Earnings / Revenue 50.73% 58.78%
Basic Earnings Per Share $0.46 $0.79
Diluted Earnings Per Share $0.46 $0.79
COMMON SHARES
Basic Shares Outstanding 4.835M 4.846M
Diluted Shares Outstanding 4.835M 4.848M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.10M $14.10M
YoY Change 92.2% -53.0%
Cash & Equivalents $3.845M $14.08M
Short-Term Investments $23.20M $0.00
Other Short-Term Assets $600.0K $800.0K
YoY Change -25.0% 14.29%
Inventory $3.929M $4.355M
Prepaid Expenses
Receivables $1.922M $3.216M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.54M $22.49M
YoY Change 49.09% -39.63%
LONG-TERM ASSETS
Property, Plant & Equipment $429.1K $731.0K
YoY Change -41.3% -34.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $40.80M $58.80M
YoY Change -30.61% 25.37%
Other Assets $100.0K
YoY Change -83.33%
Total Long-Term Assets $41.96M $59.79M
YoY Change -29.82% 23.01%
TOTAL ASSETS
Total Short-Term Assets $33.54M $22.49M
Total Long-Term Assets $41.96M $59.79M
Total Assets $75.50M $82.28M
YoY Change -8.24% -4.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $154.6K $324.4K
YoY Change -52.36% 27.87%
Accrued Expenses $500.0K $600.0K
YoY Change -16.67% 20.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $693.2K $923.8K
YoY Change -24.96% 29.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $600.0K $0.00
YoY Change
Total Long-Term Liabilities $600.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $693.2K $923.8K
Total Long-Term Liabilities $600.0K $0.00
Total Liabilities $1.480M $966.6K
YoY Change 53.13% 38.08%
SHAREHOLDERS EQUITY
Retained Earnings $53.01M $60.64M
YoY Change -12.58% -8.55%
Common Stock $19.38M $20.01M
YoY Change -3.15% 0.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $74.02M $81.31M
YoY Change
Total Liabilities & Shareholders Equity $75.50M $82.28M
YoY Change -8.24% -4.17%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $2.222M $3.822M
YoY Change -41.85% -10.75%
Depreciation, Depletion And Amortization $130.0K $140.0K
YoY Change -7.14% -22.22%
Cash From Operating Activities $2.370M $2.880M
YoY Change -17.71% -20.44%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $3.000M
YoY Change -329.01%
Cash From Investing Activities $3.000M
YoY Change -329.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.920M -4.840M
YoY Change 1.65% 2.54%
NET CHANGE
Cash From Operating Activities 2.370M 2.880M
Cash From Investing Activities 3.000M
Cash From Financing Activities -4.920M -4.840M
Net Change In Cash -2.550M 1.040M
YoY Change -345.19% -143.15%
FREE CASH FLOW
Cash From Operating Activities $2.370M $2.880M
Capital Expenditures $0.00
Free Cash Flow $2.880M
YoY Change -20.44%

Facts In Submission

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CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
3607419
us-gaap Open Tax Year
OpenTaxYear
2016 2017 2018 2019
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
1174147
CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
1295046
us-gaap Operating Expenses
OperatingExpenses
2410141
us-gaap Operating Expenses
OperatingExpenses
2598122
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2265351
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3860801
us-gaap Operating Income Loss
OperatingIncomeLoss
4782197
us-gaap Operating Income Loss
OperatingIncomeLoss
7760384
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
38641
us-gaap Operating Lease Cost
OperatingLeaseCost
77282
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
758653
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
113666
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
127134
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
644987
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
706600
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
44433
us-gaap Operating Lease Payments
OperatingLeasePayments
88866
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
752861
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
816358
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-130324
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
178716
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1112338
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
748779
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1242662
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
570063
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
91419
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9670076
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9692020
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
3013530
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16100
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
610635
CY2020Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
655835
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
12500000
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11077307
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11077307
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
429116
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
582467
CY2020Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
815965
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
926596
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1696948
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1899663
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
53010649
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
58046520
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4380785
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6501945
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
8970047
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
12796641
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4846010
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4834872
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4846010
CY2020Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
358182
CY2019Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
368450
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
713193
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
698459
us-gaap Share Based Compensation
ShareBasedCompensation
37022
us-gaap Share Based Compensation
ShareBasedCompensation
48360
CY2020Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0
CY2020Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
91419
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
74017419
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
77995349
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
76817545
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
82780211
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
82111683
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
81314811
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
30608
us-gaap Variable Lease Cost
VariableLeaseCost
61216
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4834809
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4847881
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4834986
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4849357
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4834709

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