$NVEC
NVE CORP /NEW/

2021 Q3 Form 10-Q Financial Statement

#000143774921023966 Filed on October 20, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $6.823M $4.381M
YoY Change 55.76% -32.62%
Cost Of Revenue $1.544M $941.3K
YoY Change 64.04% -30.07%
Gross Profit $5.279M $3.439M
YoY Change 53.49% -33.29%
Gross Profit Margin 77.37% 78.51%
Selling, General & Admin $483.1K $358.2K
YoY Change 34.88% -2.79%
% of Gross Profit 9.15% 10.41%
Research & Development $708.0K $816.0K
YoY Change -13.23% -11.94%
% of Gross Profit 13.41% 23.72%
Depreciation & Amortization $130.8K $130.0K
YoY Change 0.6% -7.14%
% of Gross Profit 2.48% 3.78%
Operating Expenses $1.191M $1.174M
YoY Change 1.44% -9.34%
Operating Profit $4.088M $2.265M
YoY Change 80.47% -41.32%
Interest Expense $294.9K $400.0K
YoY Change -26.29% -13.04%
% of Operating Profit 7.21% 17.66%
Other Income/Expense, Net
YoY Change
Pretax Income $4.383M $2.667M
YoY Change 64.36% -38.23%
Income Tax $736.6K $444.4K
% Of Pretax Income 16.8% 16.66%
Net Earnings $3.647M $2.222M
YoY Change 64.08% -41.85%
Net Earnings / Revenue 53.44% 50.73%
Basic Earnings Per Share $0.75 $0.46
Diluted Earnings Per Share $0.75 $0.46
COMMON SHARES
Basic Shares Outstanding 4.833M 4.835M
Diluted Shares Outstanding 4.837M 4.835M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.81M $27.10M
YoY Change 24.75% 92.2%
Cash & Equivalents $11.15M $3.845M
Short-Term Investments $22.66M $23.20M
Other Short-Term Assets $752.8K $600.0K
YoY Change 25.46% -25.0%
Inventory $3.983M $3.929M
Prepaid Expenses
Receivables $2.876M $1.922M
Other Receivables $0.00 $0.00
Total Short-Term Assets $41.42M $33.54M
YoY Change 23.49% 49.09%
LONG-TERM ASSETS
Property, Plant & Equipment $284.0K $429.1K
YoY Change -33.83% -41.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $27.54M $40.80M
YoY Change -32.49% -30.61%
Other Assets $137.4K
YoY Change
Total Long-Term Assets $28.59M $41.96M
YoY Change -31.86% -29.82%
TOTAL ASSETS
Total Short-Term Assets $41.42M $33.54M
Total Long-Term Assets $28.59M $41.96M
Total Assets $70.01M $75.50M
YoY Change -7.27% -8.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $411.2K $154.6K
YoY Change 166.05% -52.36%
Accrued Expenses $853.7K $500.0K
YoY Change 70.73% -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 $1.265M $693.2K
YoY Change 82.47% -24.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $516.0K $600.0K
YoY Change -14.01%
Total Long-Term Liabilities $516.0K $600.0K
YoY Change -14.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.265M $693.2K
Total Long-Term Liabilities $516.0K $600.0K
Total Liabilities $1.781M $1.480M
YoY Change 20.31% 53.13%
SHAREHOLDERS EQUITY
Retained Earnings $47.96M $53.01M
YoY Change -9.52% -12.58%
Common Stock $19.45M $19.38M
YoY Change 0.38% -3.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $68.23M $74.02M
YoY Change
Total Liabilities & Shareholders Equity $70.01M $75.50M
YoY Change -7.27% -8.24%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $3.647M $2.222M
YoY Change 64.08% -41.85%
Depreciation, Depletion And Amortization $130.8K $130.0K
YoY Change 0.6% -7.14%
Cash From Operating Activities $3.158M $2.370M
YoY Change 33.24% -17.71%
INVESTING ACTIVITIES
Capital Expenditures -$48.24K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.000M
YoY Change
Cash From Investing Activities $3.952M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.833M -4.920M
YoY Change -1.76% 1.65%
NET CHANGE
Cash From Operating Activities 3.158M 2.370M
Cash From Investing Activities 3.952M
Cash From Financing Activities -4.833M -4.920M
Net Change In Cash 2.276M -2.550M
YoY Change -189.27% -345.19%
FREE CASH FLOW
Cash From Operating Activities $3.158M $2.370M
Capital Expenditures -$48.24K
Free Cash Flow $3.206M
YoY Change

Facts In Submission

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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Income Taxes Paid
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CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2021Q3 nvec Debt Securities Available For Sale Securitiest Maturity Allocated And Signle Maturity Date One Through Three Years Fair Value
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CY2021Q3 nvec Debt Securities Available For Sale Securities Maturity Allocated And Single Maturity Date Three Through Five Years Fair Value
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CY2021Q3 nvec Available For Sale Debt Securitites Percent Of Total Assets
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CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
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CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
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CY2021Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
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CY2021Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
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CY2021Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
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CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
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CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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CY2021Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
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InventoryRawMaterialsNetOfReserves
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CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
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CY2021Q3 us-gaap Inventory Net
InventoryNet
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CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Payments
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CY2021Q3 us-gaap Lessee Operating Lease Discount Rate
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2021Q3 us-gaap Operating Lease Liability
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CY2021Q2 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
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1 pure
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CY2021Q3 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
26831 USD
CY2020Q3 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
21275 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
55415 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
46656 USD

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