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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000724910-04-000009.txt : 20040503
<SEC-HEADER>0000724910-04-000009.hdr.sgml : 20040503
<ACCEPTANCE-DATETIME>20040503093547
ACCESSION NUMBER:		0000724910-04-000009
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040430
ITEM INFORMATION:		
FILED AS OF DATE:		20040503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NVE CORP /NEW/
		CENTRAL INDEX KEY:			0000724910
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				411424202
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		04771560

	BUSINESS ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344
		BUSINESS PHONE:		9528299217

	MAIL ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREMIS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>dtls8k04.txt
<TEXT>
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 8-K

                                 CURRENT REPORT
    Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934


Date of Report (Date of earliest event reported)   April 30, 2004
                                                  ----------------

                                 NVE Corporation
                                 ---------------
             (Exact name of registrant as specified in its charter)

         Minnesota                     000-12196                 41-1424202
- -------------------------------------------------------------------------------
(State or other jurisdiction          (Commission             (IRS Employer
      of incorporation)               File Number)          Identification No.)


11409 Valley View Road, Eden Prairie, Minnesota                        55344
- -------------------------------------------------------------------------------
    (Address of principal executive offices)                         (Zip Code)

Issuer's telephone number, including area code  (952) 829-9217
                                                --------------


- -------------------------------------------------------------------------------
        (Former name or former address, if changed since last report.)

<PAGE>
Item 12. Results of Operations and Financial Condition
       Furnished as Exhibit 99 are detailed financial statements for the quarter
and fiscal year ended March 31, 2004 which are being posted to our Web site.


                                 INDEX TO EXHIBITS

   Exhibit                           Description
   -------                           -----------
     99       Detailed financial statements for the quarter and fiscal year
              ended March 31, 2004

<PAGE>
SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           NVE CORPORATION
                                            (Registrant)

Date  April 30, 2004                       /s/ Daniel A. Baker
                                           -------------------
                                           By: Daniel A. Baker
                                           President and Chief Executive Officer

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>fy04dtls.txt
<DESCRIPTION>DETAILED FINANCIAL STATEMENTS
<TEXT>
                            NVE Corporation
                  CONDENSED STATEMENTS OF OPERATIONS
            QUARTER AND YEAR ENDED MARCH 31, 2004 AND 2003
              (IN THOUSANDS EXCEPT PER SHARE; UNAUDITED)

<TABLE>
<CAPTION>
Quarter ended                           March 31, 2004  March 31, 2003
<S>                                     <C>             <C>
Revenue:
  Contract research and development           $ 1,667         $ 1,709
  Product sales                                 1,541             795
  License revenue                                   -              98
                                        --------------  --------------
Total revenue                                   3,208           2,602

Cost of sales                                   1,890           1,638
                                        --------------  --------------
Gross profit                                    1,318             964

Expenses
  Research and development                        391             364
  Selling, general and administrative             441             513
                                        --------------  --------------
Total expenses                                    832             877
                                        --------------  --------------
Income from operations                            486              87

Interest Income                                    49              57
Interest expense                                   (5)             (8)
Other Income                                       23              24
                                        --------------  --------------
Income from operations before income taxes        533             160

Income tax (benefit)                             (237)              -
                                        --------------  --------------
Net income                                    $   790         $   160
                                        ==============  ==============

Weighted average shares outstanding             4,877           4,366
Net income per share - diluted                $  0.16         $  0.04


Year ended                              March 31, 2004  March 31, 2003
Revenue:
  Contract research and development           $ 6,617         $ 6,553
  Product sales                                 5,393           2,503
  License revenue                                   -             391
                                        --------------  --------------
Total revenue                                  12,010           9,447

Cost of sales                                   7,445           5,911
                                        --------------  --------------
Gross profit                                    4,565           3,536

Expenses
  Research and development                      1,103           1,308
  Selling, general and administrative           1,831           1,838
                                        --------------  --------------
Total expenses                                  2,934           3,146
                                        --------------  --------------

Income from operations                          1,631             390


Interest Income                                   189             211
Interest expense                                  (25)            (40)
Other Income                                       80              86
                                        --------------  --------------
Income from operations before income taxes      1,875             647

Income tax (benefit)                             (233)              -
                                        --------------  --------------
Net income                                    $ 2,108         $   647
                                        ==============  ==============

Weighted average shares outstanding             4,727           4,324
Net income per share - diluted                $  0.45         $  0.15
</TABLE>
<PAGE>
                           NVE Corporation
                       CONDENSED BALANCE SHEETS
                   MARCH 31, 2004 AND MARCH 31, 2003
                            (IN THOUSANDS)

<TABLE>
<CAPTION>
                                               (UNAUDITED)
                                                 March 31,   March 31,
                                                   2004        2003
<S>                                            <C>         <C>
ASSETS
Current assets:
  Cash                                           $  1,056    $    596
  Investment securities                             6,489       5,880
  Account Receivable, net                           1,739       1,028
  Inventories                                       1,150         841
  Other current assets                                547         170
                                               ----------- -----------
Total current assets                               10,981       8,515
Fixed assets                                        1,439       1,167
                                               ----------- -----------
Total assets                                     $ 12,420    $  9,682
                                               =========== ===========

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
  Accounts payable                                    327         311
  Accrued payroll and other                           712         626
  Other current liabilities                           547       1,043
                                               ----------- -----------
Total current liabilities                           1,586       1,980
Long-term liabilities                                 101         223
                                               ----------- -----------
Total liabilities                                   1,687       2,203

Shareholders' equity:
  Common stock                                         45          42
  Additional paid-in capital                       13,298      12,171
  Accumulated other comprehensive income               90          73
  Accumulated deficit                              (2,700)     (4,807)
                                               ----------- -----------
Total shareholders' equity                         10,733       7,479
                                               ----------- -----------
Total liabilities and shareholders' equity       $ 12,420    $  9,682
                                               =========== ===========
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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