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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000724910-06-000008.txt : 20060503
<SEC-HEADER>0000724910-06-000008.hdr.sgml : 20060503
<ACCEPTANCE-DATETIME>20060503160949
ACCESSION NUMBER:		0000724910-06-000008
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060503
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20060503
DATE AS OF CHANGE:		20060503

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:		06804002

	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>pr8k4q06.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)  May 3, 2006
                                                  -----------

                                 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)

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


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

                                 ---------------

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

<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 and fiscal year ended March 31, 2006.



                                       -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  May 3, 2006                         /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 May 3, 2006 reporting
              results for the quarter and fiscal year ended March 31, 2006



                                       -4-
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>q4-06pr.txt
<DESCRIPTION>PRESS RELEASE OF NVE CORPORATION DATED MAY 3, 2006 REPORTING RESULTS FOR THE QUARTER AND FISCAL YEAR ENDED MARCH 31, 2006
<TEXT>
                                                                 PRESS RELEASE
                                                         For immediate release

        NVE Corporation Reports Fourth Quarter and Fiscal Year Results
  Fourth quarter product sales increase 76%; pretax income more than doubles

EDEN PRAIRIE, Minn.--May 3, 2006--NVE Corporation (Nasdaq: NVEC) today
announced financial results for the quarter and fiscal year ended March 31,
2006.

Product sales for the fourth quarter of fiscal 2006 increased 76% over the
prior year to $2.80 million from $1.59 million. Total revenue, consisting of
product sales and contract research and development revenue, increased 13% to
$3.48 million for the fourth quarter of fiscal 2006 compared to $3.07 million
in the prior-year quarter. Income before taxes for the quarter was $978,493 or
$0.21 per diluted share, compared to $349,209 or $0.07 per diluted share for
the prior-year quarter. After the effect of a provision for income taxes of
$358,749, net income for the fourth quarter of fiscal 2006 was $619,744 or
$0.13 per share. Net income for the fourth quarter of fiscal 2005 was $476,113
or $0.10 per share including an income tax benefit of $126,904 or $0.03 per
share.

For fiscal 2006 product sales increased 51% to $8.35 million from $5.52 million
in fiscal 2005. Total revenue was $12.17 million for fiscal 2006 compared to
$11.62 million for fiscal 2005. Income before taxes for fiscal 2006 was
$2.84 million or $0.61 per diluted share, compared to $1.62 million or $0.34
per diluted share for the prior year. After the effect of a provision for
income taxes of $1.04 million, net income for fiscal 2006 was $1.80 million or
$0.39 per share. Net income for fiscal 2005 was $1.76 million or $0.37 per
share including an income tax benefit of $138,404 or $0.03 per share.

"We are pleased to report record product sales, total revenue, and pretax
profit for the fourth quarter and fiscal year," said NVE President and Chief
Executive Officer Daniel A. Baker, Ph.D. "Operating income for the quarter
more than tripled, driven by strong product sales. We enter fiscal 2007 with a
solid balance sheet, products that are in demand, and an excellent
intellectual property portfolio."

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 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, 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
                             STATEMENTS OF INCOME
               QUARTERS AND YEARS ENDED MARCH 31, 2006 AND 2005
                                  (Unaudited)

<TABLE>
<CAPTION>
                                              Quarter Ended March 31
                                                2006           2005
                                            ------------   ------------
<S>                                         <C>            <C>
Revenue
  Product sales                             $ 2,797,882    $ 1,590,848
  Contract research and development             684,892      1,481,309
                                            ------------   ------------
Total revenue                                 3,482,774      3,072,157

Cost of sales                                 1,600,990      1,853,230
                                            ------------   ------------
Gross profit                                  1,881,784      1,218,927

Expenses
  Research and development                      487,470        468,367
  Selling, general, and administrative          517,385        463,473
                                            ------------   ------------
Total expenses                                1,004,855        931,840
                                            ------------   ------------

Income from operations                          876,929        287,087

Interest income                                  99,178         61,798
Interest expense                                   (967)        (2,398)
Other income                                      3,353          2,722
                                            ------------   ------------
Income before taxes                             978,493        349,209

Provision (benefit) for income taxes            358,749       (126,904)
                                            ------------   ------------
Net income                                  $   619,744    $   476,113
                                            ============   ============

Net income per share - basic                $      0.13    $      0.10
                                            ============   ============
Net income per share - diluted              $      0.13    $      0.10
                                            ============   ============

Weighted average shares outstanding
  Basic                                       4,603,634      4,556,138
  Diluted                                     4,690,943      4,777,846
Supplemental financial data (unaudited)
  Non-cash income tax expense (benefit)     $   321,749    $  (126,904)
</TABLE>

<TABLE>
<CAPTION>
                                                Year Ended March 31
                                                2006           2005
                                            ------------   ------------
<S>                                         <C>            <C>
Revenue
  Product sales                             $ 8,345,967    $ 5,522,250
  Contract research and development           3,824,559      6,093,320
                                            ------------   ------------
Total revenue                                12,170,526     11,615,570

Cost of sales                                 6,218,533      7,010,734
                                            ------------   ------------
Gross profit                                  5,951,993      4,604,836

Expenses
  Research and development                    1,724,825      1,393,503
  Selling, general, and administrative        1,756,142      1,867,556
                                            ------------   ------------
Total expenses                                3,480,967      3,261,059
                                            ------------   ------------

Income from operations                        2,471,026      1,343,777

Interest income                                 332,784        235,341
Interest expense                                 (6,051)       (13,256)
Other income                                     43,020         53,988
                                            ------------   ------------
Income before taxes                           2,840,779      1,619,850

Provision (benefit) for income taxes          1,043,033       (138,404)
                                            ------------   ------------
Net income                                  $ 1,797,746    $ 1,758,254
                                            ============   ============

Net income per share - basic                $      0.39    $      0.39
                                            ============   ============
Net income per share - diluted              $      0.39    $      0.37
                                            ============   ============
Weighted average shares outstanding
  Basic                                       4,580,684      4,512,247
  Diluted                                     4,667,994      4,733,955
Supplemental financial data (unaudited)
  Non-cash income tax expense (benefit)     $   990,083    $  (126,904)
</TABLE>

<PAGE>
                                NVE CORPORATION
                                BALANCE SHEETS
                            MARCH 31, 2006 AND 2005

<TABLE>
<CAPTION>
                                                 (Unaudited)
                                                   March 31         March 31
                                                    2006              2005
                                                --------------   --------------
<S>                                             <C>              <C>
ASSETS
Current assets
   Cash and cash equivalents                    $   1,288,362    $   1,240,205
   Short-term investments                           1,248,103          252,775
   Accounts receivable, net of allowance for
     uncollectible accounts of $15,000              1,667,029        2,285,472
   Inventories                                      2,149,769        1,572,759
   Deferred tax assets                              1,576,472          756,074
   Prepaid expenses and other assets                  231,412          130,873
                                                --------------   --------------
Total current assets                                8,161,147        6,238,158
Fixed assets
   Machinery and equipment                          4,149,080        4,140,307
   Leasehold improvements                             413,482          413,482
                                                --------------   --------------
                                                    4,562,562        4,553,789
   Less accumulated depreciation                    3,319,651        2,826,227
                                                --------------   --------------
Net fixed assets                                    1,242,911        1,727,562
Long-term investments                               8,354,861        6,224,284
                                                --------------   --------------
Total assets                                    $  17,758,919    $  14,190,004
                                                ==============   ==============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
   Accounts payable                             $     399,762    $     319,427
   Accrued payroll and other                          470,392          465,930
   Deferred revenue                                    77,373          267,355
   Capital lease obligations                           33,281           67,430
                                                --------------   --------------
Total current liabilities                             980,808        1,120,142
Capital lease obligations, less current portion           -             33,281
                                                --------------   --------------
Total liabilities                                     980,808        1,153,423

Shareholders' equity
   Common stock                                        46,150           45,698
   Additional paid-in capital                      16,042,637       14,064,625
   Accumulated other comprehensive loss              (166,908)        (132,228)
   Retained earnings (deficit)                        856,232         (941,514)
                                                --------------   --------------
Total shareholders' equity                         16,778,111       13,036,581
                                                --------------   --------------
Total liabilities and shareholders' equity      $  17,758,919    $  14,190,004
                                                ==============   ==============
</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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