$NVEC
NVE CORP /NEW/

2022 Q3 Form 10-Q Financial Statement

#000143774922017440 Filed on July 20, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $10.72M $7.336M $6.720M
YoY Change 57.07% 2.56% 14.67%
Cost Of Revenue $2.403M $1.652M $1.564M
YoY Change 55.61% -6.65% 23.18%
Gross Profit $8.315M $5.685M $5.155M
YoY Change 57.5% 5.59% 12.31%
Gross Profit Margin 77.58% 77.48% 76.72%
Selling, General & Admin $435.6K $371.3K $247.4K
YoY Change -9.83% -20.42% -14.68%
% of Gross Profit 5.24% 6.53% 4.8%
Research & Development $670.0K $601.9K $813.2K
YoY Change -5.37% -25.52% 2.94%
% of Gross Profit 8.06% 10.59% 15.78%
Depreciation & Amortization $71.23K $87.62K $66.15K
YoY Change -45.53% -37.6% -55.9%
% of Gross Profit 0.86% 1.54% 1.28%
Operating Expenses $1.106M $973.2K $1.061M
YoY Change -7.18% -23.65% -1.79%
Operating Profit $7.209M $4.711M $4.095M
YoY Change 76.35% 14.66% 16.65%
Interest Expense $351.4K $283.1K $302.6K
YoY Change 19.17% -2.3% -8.3%
% of Operating Profit 4.87% 6.01% 7.39%
Other Income/Expense, Net
YoY Change
Pretax Income $7.561M $4.994M $4.397M
YoY Change 72.5% 13.55% 14.21%
Income Tax $1.470M $854.3K $581.1K
% Of Pretax Income 19.45% 17.1% 13.22%
Net Earnings $6.090M $4.140M $3.816M
YoY Change 67.02% 15.66% 21.92%
Net Earnings / Revenue 56.82% 56.43% 56.79%
Basic Earnings Per Share $1.26 $0.86
Diluted Earnings Per Share $1.26 $0.86 $789.2K
COMMON SHARES
Basic Shares Outstanding 4.831M 4.831M 4.834M
Diluted Shares Outstanding 4.831M 4.831M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.91M $28.19M $31.29M
YoY Change -58.85% 8.7% 72.87%
Cash & Equivalents $3.584M $13.30M $10.45M
Short-Term Investments $10.33M $14.89M $20.84M
Other Short-Term Assets $600.9K $722.0K $420.5K
YoY Change -20.17% 9.68% 5.13%
Inventory $5.795M $5.544M $5.089M
Prepaid Expenses $420.5K
Receivables $5.860M $3.513M $4.705M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $26.17M $37.97M $41.50M
YoY Change -36.82% 13.07% 70.36%
LONG-TERM ASSETS
Property, Plant & Equipment $439.2K $483.5K $606.4K
YoY Change 54.66% 61.5% 80.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $39.51M $25.52M $24.31M
YoY Change 43.46% -31.89% -48.27%
Other Assets $894.1K $578.3K $483.5K
YoY Change 550.5% 468.85% 383.47%
Total Long-Term Assets $41.34M $27.11M $25.96M
YoY Change 44.59% -29.63% -46.06%
TOTAL ASSETS
Total Short-Term Assets $26.17M $37.97M $41.50M
Total Long-Term Assets $41.34M $27.11M $25.96M
Total Assets $67.51M $65.07M $67.47M
YoY Change -3.57% -9.75% -6.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $399.3K $295.4K $943.5K
YoY Change -2.91% -17.79% 180.32%
Accrued Expenses $3.019M $824.4K $1.513M
YoY Change 253.65% 2.75% 116.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.418M $1.120M $2.456M
YoY Change 170.24% -43.9% 139.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $374.9K $411.4K $446.0K
YoY Change -27.33% -25.04% -25.66%
Total Long-Term Liabilities $374.9K $411.4K $446.0K
YoY Change -27.33% -25.04% -25.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.418M $1.120M $2.456M
Total Long-Term Liabilities $374.9K $411.4K $446.0K
Total Liabilities $3.793M $1.531M $2.902M
YoY Change 113.0% -39.84% 80.41%
SHAREHOLDERS EQUITY
Retained Earnings $46.15M $44.89M $45.58M
YoY Change -3.79% -8.67% -9.57%
Common Stock $19.35M $19.31M $19.30M
YoY Change -0.51% -0.42% -0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $63.72M $63.54M $64.57M
YoY Change
Total Liabilities & Shareholders Equity $67.51M $65.07M $67.47M
YoY Change -3.57% -9.75% -6.94%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $6.090M $4.140M $3.816M
YoY Change 67.02% 15.66% 21.92%
Depreciation, Depletion And Amortization $71.23K $87.62K $66.15K
YoY Change -45.53% -37.6% -55.9%
Cash From Operating Activities $6.020M $3.331M $3.405M
YoY Change 90.64% 0.93% -29.5%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $24.50K -$426.3K
YoY Change -100.0% -4.59% 752.52%
Acquisitions
YoY Change
Other Investing Activities -$10.91M $4.374M $3.500M
YoY Change -372.63% -199.72%
Cash From Investing Activities -$10.91M $4.349M $3.074M
YoY Change -375.95% -17037.72% -186.1%
FINANCING ACTIVITIES
Cash Dividend Paid $4.831M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.831M -$4.831M -4.997M
YoY Change -0.05% -0.05% 3.25%
NET CHANGE
Cash From Operating Activities 6.020M $3.331M 3.405M
Cash From Investing Activities -10.91M $4.349M 3.074M
Cash From Financing Activities -4.831M -$4.831M -4.997M
Net Change In Cash -9.716M $2.850M 1.482M
YoY Change -526.81% -282.85% -141.39%
FREE CASH FLOW
Cash From Operating Activities $6.020M $3.331M $3.405M
Capital Expenditures $0.00 $24.50K -$426.3K
Free Cash Flow $6.020M $3.307M $3.832M
YoY Change 87.77% 0.97% -21.48%

Facts In Submission

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CY2022Q2 dei Entity Incorporation State Country Code
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CY2022Q2 dei Entity Tax Identification Number
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CY2022Q2 dei Entity Address Address Line1
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NetCashProvidedByUsedInOperatingActivities
3331143 usd
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3300394 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
73705 usd
CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24500 usd
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25679 usd
CY2022Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
4976063 usd
CY2021Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
-0 usd
CY2022Q2 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
9250000 usd
CY2021Q2 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 usd
CY2022Q2 nvec Proceeds From Tenant Allowance
ProceedsFromTenantAllowance
100000 usd
CY2021Q2 nvec Proceeds From Tenant Allowance
ProceedsFromTenantAllowance
0 usd
CY2022Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4349437 usd
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-25679 usd
CY2022Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4830826 usd
CY2021Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4833232 usd
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4830826 usd
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4833232 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2849754 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1558517 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10449510 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10427340 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13299264 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8868823 usd
CY2022Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
1275629 usd
CY2021Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
44433 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
865662 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4830826
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4833232
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
45
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3589
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4830871
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4836821
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
51663939 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
26146002 usd
CY2022Q2 nvec Debt Securities Available For Sale Securitiest Maturity Allocated And Signle Maturity Date One Through Three Years Fair Value
DebtSecuritiesAvailableForSaleSecuritiestMaturityAllocatedAndSignleMaturityDateOneThroughThreeYearsFairValue
25517937 usd
CY2022Q2 nvec Debt Securities Available For Sale Securities Maturity Allocated And Single Maturity Date Three Through Five Years Fair Value
DebtSecuritiesAvailableForSaleSecuritiesMaturityAllocatedAndSingleMaturityDateThreeThroughFiveYearsFairValue
0 usd
CY2022Q2 nvec Available For Sale Debt Securitites Percent Of Total Assets
AvailableForSaleDebtSecurititesPercentOfTotalAssets
0.79 pure
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
52504535 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
25066 usd
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
52318107 usd
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
230085 usd
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
637305 usd
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
51910887 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
5544037 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
5088635 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
16045088 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
637305 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
8981072 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
100920 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
9554349 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
764742 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
18535421 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
865662 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
6306750 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
23727 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
9738338 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
613578 usd
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
988317 usd
CY2022Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
987062 usd
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3863801 usd
CY2022Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3355838 usd
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
691919 usd
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
745735 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7134 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7238 usd
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P45M
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.035 pure
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
117304 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
165947 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
42515 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
159592 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
163224 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
606067 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
37687 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
568380 usd
CY2022Q2 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
1 pure
CY2022Q2 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.03 pure
CY2022Q2 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
28426 usd
CY2021Q2 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
28584 usd

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