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<SEC-DOCUMENT>0000724910-05-000002.txt : 20050119
<SEC-HEADER>0000724910-05-000002.hdr.sgml : 20050119
<ACCEPTANCE-DATETIME>20050119160737
ACCESSION NUMBER:		0000724910-05-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050119
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20050119
DATE AS OF CHANGE:		20050119

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:		05536455

	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>pr8kq305.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)  January 19, 2005
                                                  ----------------

                                 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 2.02. Results of Operations and Financial Condition
       Furnished as Exhibit 99 is a press release of NVE Corporation reporting
results for the quarter ended December 31, 2004.



                                       -2-

<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  January 19, 2005                    /s/ Daniel A. Baker
                                          -------------------
                                          By: Daniel A. Baker
                                          President and Chief Executive Officer



                                       -3-

<PAGE>

                                 INDEX TO EXHIBITS

   Exhibit                           Description
   -------                           -----------
     99       Press release of NVE Corporation dated January 19, 2005 reporting
              results for the quarter ended December 31, 2004



                                       -4-

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>nrq305.txt
<DESCRIPTION>EXHIBIT 99 - PRESS RELEASE DATED JANUARY 19, 2005
<TEXT>
          NVE Corporation Reports Third Quarter Fiscal 2005 Results

EDEN PRAIRIE, Minn.--January 19, 2005--NVE Corporation (NasdaqSC: NVEC) today
announced financial results for the three months ended December 31, 2004.

Net income for the third quarter was $375,172, compared with net income of
$577,156 for the prior-year quarter. Earnings per share were $0.08 per share,
compared to $0.12 per share for the prior year quarter. Revenue was $2.56
million, compared to $3.12 million for the prior-year quarter, a decrease of
18 percent.

For the nine months ended December 31, 2004, net income was $1,282,141,
compared to net income of $1,318,050 for the nine months ended December 31,
2003. Earnings per share were $0.26 per share compared to $0.28 per share in
the prior year period. Revenue for the first nine months of fiscal 2005 was
$8.54 million, compared to $8.80 million reported in the first nine months of
fiscal 2004, a 3 percent decrease.

"We are satisfied with our financial results in light of industry conditions,"
said Daniel A. Baker, Ph.D., NVE's president and chief executive officer. "We
reported a solid profit in the third quarter despite a decline in revenues due
to an anticipated sales reduction with St. Jude Medical and an industry-wide
inventory glut. We expect new sensors and couplers, as well as MRAM devices
and royalties, to drive future growth."

NVE is a leader in the practical commercialization of spintronics, a
nanotechnology that many experts believe represents the next generation of
microelectronics. NVE licenses its MRAM intellectual property and sells
spintronic products, including sensors and couplers, to revolutionize data
sensing and transmission.

Statements used in this press release that relate to future plans, events,
financial results or performance are forward-looking statements that are
subject to certain risks and uncertainties including, among others, such
factors as risks in continued profitability, uncertainties relating to MRAM
production by our licensees, risks in the enforcement of our patents,
uncertainties related to the awarding of future government contracts, risks
associated with our reliance on several large customers, as well as the risk
factors listed from time to time in our filings with the SEC, including our
Annual Report on Form 10-KSB and other reports filed with the SEC.

                                     ###

<PAGE>
                           NVE Corporation
                   CONDENSED STATEMENTS OF INCOME
     THREE MONTHS AND NINE MONTHS ENDED DECEMBER 31, 2004 AND 2003
              (IN THOUSANDS EXCEPT PER SHARE; UNAUDITED)

<TABLE>
<CAPTION>
Three Months Ended                        Dec. 31, 2004   Dec. 31, 2003
<S>                                       <C>             <C>
Revenue:
  Contract research and development             $ 1,441         $ 1,633
  Product sales                                   1,118           1,485
                                          --------------  --------------
Total revenue                                     2,559           3,118

Cost of sales                                     1,571           1,907
                                          --------------  --------------
Gross profit                                        988           1,211

Expenses:
  Research and development                          257             231
  Selling, general & administrative                 438             464
                                          --------------  --------------
Total expenses                                      695             695
                                          --------------  --------------
Income from operations                              293             516

Interest income                                      60              47
Interest expense                                     (3)             (6)
Other income                                         25              20
                                          --------------  --------------
Net income                                      $   375         $   577
                                          ==============  ==============

Weighted average shares outstanding               4,883           4,832
Net income per share - diluted                  $  0.08         $  0.12
</TABLE>


<TABLE>
<CAPTION>
Nine Months Ended                         Dec. 31, 2004   Dec. 31, 2003
<S>                                       <C>             <C>
Revenue:
  Contract research and development             $ 4,612         $ 4,950
  Product sales                                   3,931           3,852
                                          --------------  --------------
Total revenue                                     8,543           8,802

Cost of sales                                     5,157           5,554
                                          --------------  --------------
Gross profit                                      3,386           3,248

Expenses:
  Research and development                          925             712
  Selling, general & administrative               1,404           1,391
                                          --------------  --------------
Total expenses                                    2,329           2,103
                                          --------------  --------------
Income from operations                            1,057           1,145

Interest income                                     174             140
Interest expense                                    (11)            (21)
Other income                                         62              54
                                          --------------  --------------
Net income                                      $ 1,282         $ 1,318
                                          ==============  ==============

Weighted average shares outstanding               4,880           4,739
Net income per share - diluted                  $  0.26        $   0.28

</TABLE>
<PAGE>
                           NVE Corporation
                       CONDENSED BALANCE SHEETS
                  DECEMBER 31, 2004 AND MARCH 31, 2004
                            (IN THOUSANDS)

<TABLE>
<CAPTION>
                                               (UNAUDITED)
                                                 Dec. 31,   March 31,
                                                   2004       2004
<S>                                            <C>         <C>
ASSETS
Current assets:
  Cash                                           $    671    $  1,056
  Investment securities                             6,577       6,489
  Accounts receivable, net                          2,266       1,739
  Inventories                                       1,751       1,150
  Other current assets                                382         547
                                               ----------- -----------
Total current assets                               11,647      10,981
Fixed assets                                        1,846       1,439
                                               ----------- -----------
Total assets                                     $ 13,493    $ 12,420
                                               =========== ===========

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
  Accounts payable                                    410         327
  Accrued payroll and other                           682         712
  Other current liabilities                           382         547
                                               ----------- -----------
Total current liabilities                           1,474       1,586
Long-term liabilities                                  51         101
                                               ----------- -----------
Total liabilities                                   1,525       1,687

Shareholders' equity:
  Common stock                                         45          45
  Additional paid-in capital                       13,377      13,298
  Accumulated other comprehensive (loss) income       (37)         90
  Accumulated deficit                              (1,417)     (2,700)
                                               ----------- -----------
Total shareholders' equity                         11,968      10,733
                                               ----------- -----------
Total liabilities and shareholders' equity       $ 13,493    $ 12,420
                                               =========== ===========
</TABLE>

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