$NVEC
NVE CORP /NEW/

2024 Q3 Form 10-Q Financial Statement

#000137647424000614 Filed on October 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $6.759M
YoY Change -5.25%
Cost Of Revenue $947.3K
YoY Change -40.79%
Gross Profit $5.811M
YoY Change 5.02%
Gross Profit Margin 85.98%
Selling, General & Admin $568.2K
YoY Change 147.06%
% of Gross Profit 9.78%
Research & Development $847.6K
YoY Change 24.06%
% of Gross Profit 14.59%
Depreciation & Amortization $82.01K
YoY Change 64.02%
% of Gross Profit 1.41%
Operating Expenses $1.416M
YoY Change 54.89%
Operating Profit $4.396M
YoY Change -4.84%
Interest Expense $464.4K
YoY Change -8.94%
% of Operating Profit 10.57%
Other Income/Expense, Net
YoY Change
Pretax Income $4.860M
YoY Change -5.29%
Income Tax $833.9K
% Of Pretax Income 17.16%
Net Earnings $4.026M
YoY Change -14.76%
Net Earnings / Revenue 59.57%
Basic Earnings Per Share $0.83
Diluted Earnings Per Share $0.83
COMMON SHARES
Basic Shares Outstanding 4.834M shares
Diluted Shares Outstanding 4.839M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.93M
YoY Change 61.5%
Cash & Equivalents $3.096M
Short-Term Investments $19.84M
Other Short-Term Assets $533.2K
YoY Change -51.52%
Inventory $7.418M
Prepaid Expenses $533.2K
Receivables $2.952M
Other Receivables $0.00
Total Short-Term Assets $33.84M
YoY Change 34.66%
LONG-TERM ASSETS
Property, Plant & Equipment $2.242M
YoY Change 85.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $28.28M
YoY Change -28.58%
Other Assets $1.519M
YoY Change 8.48%
Total Long-Term Assets $2.022M
YoY Change -95.25%
TOTAL ASSETS
Total Short-Term Assets $33.84M
Total Long-Term Assets $2.022M
Total Assets $65.88M
YoY Change -2.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $170.1K
YoY Change -30.36%
Accrued Expenses $580.3K
YoY Change 7.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $931.5K
YoY Change -3.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $88.65K
YoY Change -70.45%
Total Long-Term Liabilities $88.65K
YoY Change -70.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $931.5K
Total Long-Term Liabilities $88.65K
Total Liabilities $1.020M
YoY Change -16.5%
SHAREHOLDERS EQUITY
Retained Earnings $45.20M
YoY Change -6.64%
Common Stock $48.34K
YoY Change 0.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $64.86M
YoY Change
Total Liabilities & Shareholders Equity $65.88M
YoY Change -2.71%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $4.026M
YoY Change -14.76%
Depreciation, Depletion And Amortization $82.01K
YoY Change 64.02%
Cash From Operating Activities $2.133M
YoY Change -60.13%
INVESTING ACTIVITIES
Capital Expenditures $208.8K
YoY Change 944.05%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$208.8K
YoY Change -104.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.834M
YoY Change -0.13%
NET CHANGE
Cash From Operating Activities 2.133M
Cash From Investing Activities -208.8K
Cash From Financing Activities -4.834M
Net Change In Cash -2.909M
YoY Change -152.9%
FREE CASH FLOW
Cash From Operating Activities $2.133M
Capital Expenditures $208.8K
Free Cash Flow $1.924M
YoY Change -63.9%

Facts In Submission

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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
dei Document Fiscal Year Focus
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dei Amendment Flag
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dei Entity Central Index Key
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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2024-09-30
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
NVE CORP
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MN
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
41-1424202
dei Entity Address Address Line1
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1409 Valley View Road
dei Entity Address City Or Town
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Eden Prairie
dei Entity Address State Or Province
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MN
dei Entity Address Postal Zip Code
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952
dei Local Phone Number
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829-9217
dei Phone Fax Number Description
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<p style="font:10pt Times New Roman;margin:0"><b>NOTE 1. DESCRIPTION OF BUSINESS</b></p> <p style="font:10pt Times New Roman;margin:0;text-indent:9pt">We develop and sell devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. </p>
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