-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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<SEC-DOCUMENT>0000724910-06-000010.txt : 20060719
<SEC-HEADER>0000724910-06-000010.hdr.sgml : 20060719
<ACCEPTANCE-DATETIME>20060719161021
ACCESSION NUMBER:		0000724910-06-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060719
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20060719
DATE AS OF CHANGE:		20060719

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:		06969549

	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>q1-07cvr.htm
<TEXT>
<html>
<p align="center"> <font face="Times New Roman, Times, serif" size="5"><b>UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</b></font><b><font face="Times New Roman, Times, serif" size="2"><br>
  Washington, D.C.&nbsp;&nbsp;20549</font></b></p>
<p align="center"><b><font face="Times New Roman, Times, serif" size="2"> <font size="5">FORM
  8-K</font></font></b></p>
<p align="center"><b><font face="Times New Roman, Times, serif" size="3">CURRENT REPORT<br>
  </font></b><font face="Times New Roman, Times, serif" size="3"><b>Pursuant to
  Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font></p>
<p><font face="Times New Roman, Times, serif" size="2"><br>
  Date of Report (Date of earliest event reported)&nbsp;&nbsp;<b><u>July 19, 2006</u></b><br>
  </font></p>
<div align="center"><font face="Times New Roman, Times, serif" size="5"> <b><u>NVE Corporation</u></b></font><font face="Times New Roman, Times, serif" size="2"><br>
  (Exact name of registrant as specified in its charter)</font></div>
<font face="Times New Roman, Times, serif" size="2">
<div align="center">
  <p>&nbsp;</p>
</div>
</font>
<div align="center"></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="33%">
      <p align="center"><font face="Times New Roman, Times, serif"><b><font size="2" ><u>Minnesota</u></font></b></font></p>
    </td>
    <td width="33%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>000-12196</u>
        </b> </font></div>
    </td>
    <td>
      <p align="center"><b><font size="2" face="Times New Roman"><u>41-1424202</u></font></b></p>
    </td>
  </tr>
  <tr>
    <td width="33%">
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(State
        or other jurisdiction of incorporation)</font></p>
    </td>
    <td width="33%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">(Commission File Number) </font></div>
    </td>
    <td>
      <div align="center"><font size="2" face="Times New Roman, Times, serif">(IRS Employer Identification No.)</font></div>
    </td>
  </tr>
</table>
<br>
<br>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="25%">
      <p align="center"><font face="Times New Roman, Times, serif"><b><font size="2">&nbsp;</font></b></font></p>
    </td>
    <td width="50%">
      <p align="center"><font size="2"><b><u>11409 Valley View Road, Eden Prairie, Minnesota</u></b></font></p>
    </td>
    <td>
      <p align="center"><font size="2"><b><font face="Times New Roman" ><u>55344</u></font></b></font></p>
    </td>
  </tr>
  <tr>
    <td width="25%">
      <p align="center"><font size="2">&nbsp;</font></p>
    </td>
    <td width="50%">
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(Address of principal executive offices)</font></p>
    </td>
    <td>
      <p align="center"><font size="2">(Zip Code)</font></p>
    </td>
  </tr>
</table>
<br>
<font size="2" face="Times New Roman, Times, serif"> Registrant&#146;s telephone
number, including area code <b><u>(952) 829-9217</u></b><br>
</font>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
  </font><font face="Times New Roman, Times, serif" size="2">(Former name or former
  address, if changed since last report.)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions (see General
  Instruction A.2. below):</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Written
  communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Soliciting
  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<hr> <br clear="all" style="page-break-before:always;"><p><font face="Times New Roman, Times, serif" size="2"><b>Item 2.02. Results of
  Operations and Financial Condition</b><br>
  </font></p>
<p style="text-indent:.5in;"><font face="Times New Roman, Times, serif" size="2">Furnished
  as Exhibit 99 is a press release of NVE Corporation reporting results for the
  quarter and fiscal year ended June 30, 2006.</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">-2-</font></p>
<hr> <br clear="all" style="page-break-before:always;"><p align="center"><font face="Times New Roman, Times, serif" size="2"> <b>SIGNATURE</b></font></p>
<p style="text-indent:.5in;"><font face="Times New Roman, Times, serif" size="2">
  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.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="25%">
      <p align="left"><font face="Times New Roman, Times, serif" size="2">Date&nbsp;&nbsp;<b><u>July
        19, 2006</u></b></font></p>
    </td>
    <td>
      <p align="left"><font face="Times New Roman, Times, serif" size="2"><b><u>NVE CORPORATION</u></b></font></p>
    </td>
  </tr>
  <tr>
    <td width="25%">
      <p align="center"><font size="2">&nbsp;</font></p>
    </td>
    <td>
      <p align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</font></p>
    </td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td>
      <div align="left"><font face="Times New Roman, Times, serif" size="2"><u>/s/
        CURT A. REYNDERS&nbsp;</u></font></div>
    </td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td>
      <div align="left"><font face="Times New Roman, Times, serif" size="2"> By:
        Curt A. Reynders</font></div>
    </td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td> <font size="2" face="Times New Roman, Times, serif">Chief Financial Officer</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">-3-</font></p>
<hr> <br clear="all" style="page-break-before:always;"><p align="center"><font face="Times New Roman, Times, serif" size="2"><b>INDEX
  TO EXHIBITS</b></font></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Exhibit #</u></b></font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td width="88%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Description</u></b></font></div>
    </td>
  </tr>
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td width="88%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">99</font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td width="88%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">Press
        release of NVE Corporation dated July 19, 2006 reporting results for the
        quarter ended June 30, 2006</font></div>
    </td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><br>
  -4-</font></p>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>q1-07pr.htm
<DESCRIPTION>PRESS RELEASE OF NVE CORPORATION DATED JULY 19, 2006 REPORTING RESULTS FOR THE QUARTER ENDED JUNE 30, 2006
<TEXT>
<html>
<p align="center"> <b>NVE Corporation Reports First Quarter
  Fiscal 2007 Results</b><br>
  <i>Product sales increase 71%; net income more than doubles</i></p>
<p>EDEN PRAIRIE, Minn.--July 19, 2006--NVE Corporation (Nasdaq: NVEC) today announced
  financial results for the quarter ended June 30, 2006.</p>
<p>Product sales for the quarter increased 71% over the prior-year quarter to
  $3.05 million from $1.78 million. Total revenue, which consisted of product
  sales and contract research and development revenue, increased 20% to $3.64
  million for the first quarter of fiscal 2007 from $3.03 million for the prior-year
  quarter. Net income for the quarter was $891,806 or $0.19 per diluted share,
  compared to $412,649 or $0.09 per diluted share for the prior-year quarter.
  Net income for the quarter ended June 30, 2006 included the effect of $2,569
  in non-cash stock-based compensation due to the implementation of SFAS 123(R).
  Net income for the first quarter of fiscal 2007 also included a $473,241 non-cash
  provision for income taxes compared to $240,468 for the prior-year quarter.</p>
<p>&quot;We are pleased to report another quarter of record product sales and
  profits,&quot; said NVE President and Chief Executive Officer Daniel A. Baker,
  Ph.D. &quot;Gross profit margin increased to 61% and operating margin to 36%.
  Cash plus investments increased by $897,880 during the quarter, and we retired
  all of our debt.&quot;</p>
<p>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.</p>
<p>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-K and other reports
  filed with the SEC.<br>
  <br>
<p align=center>###
<p>
<hr> <br clear="all" style="page-break-before:always;">
<pre><b>                         NVE CORPORATION
                       STATEMENTS OF INCOME
        QUARTERS ENDED JUNE 30, 2006 AND 2005 (Unaudited)
</b>
                                               Quarter Ended June 30
                                                2006           2005
                                            ------------   ------------
Revenue
  Product sales                             $ 3,053,328    $ 1,784,250
  Contract research and development             581,867      1,241,298
                                            ------------   ------------
Total revenue                                 3,635,195      3,025,548

Cost of sales                                 1,399,821      1,681,118
                                            ------------   ------------
Gross profit                                  2,235,374      1,344,430

Expenses
  Research and development                      530,612        376,800
  Selling, general, and administrative          406,732        409,594
                                            ------------   ------------
Total expenses                                  937,344        786,394
                                            ------------   ------------

Income from operations                        1,298,030        558,036

Interest income                                 111,906         68,319
Interest expense                                   (589)        (2,053)
Other income                                       -            30,815
                                            ------------   ------------
Income before taxes                           1,409,347        655,117

Provision for income taxes                      517,541        242,468
                                            ------------   ------------
Net income                                  $   891,806    $   412,649
                                            ============   ============

Net income per share - basic                $      0.19    $      0.09
                                            ============   ============
Net income per share - diluted              $      0.19    $      0.09
                                            ============   ============

Weighted average shares outstanding
  Basic                                       4,616,588      4,569,861
  Diluted                                     4,693,075      4,683,151
Supplemental financial data
  Non-cash stock-based compensation         $     2,569    $      -
  Non-cash income tax expense               $   473,241    $   240,468

<hr> <br clear="all" style="page-break-before:always;">
<b>                               NVE CORPORATION
                                BALANCE SHEETS
                       JUNE 30, 2006 AND MARCH 31, 2006
</b>
                                                (Unaudited)
                                               June 30, 2006    March 31, 2006
                                               --------------   --------------
ASSETS
Current assets
  Cash and cash equivalents                    $   1,737,112    $   1,288,362
  Short-term investments                             749,295        1,248,103
  Accounts receivable, net of allowance for
    uncollectible accounts of $15,000              1,919,778        1,667,029
  Inventories                                      2,103,995        2,149,769
  Deferred tax assets                              1,593,096        1,576,472
  Prepaid expenses and other assets                  257,056          231,412
                                               --------------   --------------
Total current assets                               8,360,332        8,161,147
Fixed assets
  Machinery and equipment                          4,206,334        4,149,080
  Leasehold improvements                             413,482          413,482
                                               --------------   --------------
                                                   4,619,816        4,562,562
  Less accumulated depreciation                    3,443,755        3,319,651
                                               --------------   --------------
Net fixed assets                                   1,176,061        1,242,911
Long-term investments                              9,302,799        8,354,861
                                               --------------   --------------
Total assets                                   $  18,839,192    $  17,758,919
                                               ==============   ==============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
  Accounts payable                             $     287,593    $     399,762
  Accrued payroll and other                          431,779          470,392
  Deferred revenue                                     4,863           77,373
  Capital lease obligations                             -              33,281
                                               --------------   --------------
Total current liabilities                            724,235          980,808

Shareholders' equity
  Common stock                                        46,167           46,150
  Additional paid-in capital                      16,519,930       16,042,637
  Accumulated other comprehensive loss              (199,178)        (166,908)
  Retained earnings                                1,748,038          856,232
                                               --------------   --------------
Total shareholders' equity                        18,114,957       16,778,111
                                               --------------   --------------
Total liabilities and shareholders' equity     $  18,839,192    $  17,758,919
                                               ==============   ==============</pre>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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