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<SEC-DOCUMENT>0000724910-07-000018.txt : 20071017
<SEC-HEADER>0000724910-07-000018.hdr.sgml : 20071017
<ACCEPTANCE-DATETIME>20071017161427
ACCESSION NUMBER:		0000724910-07-000018
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20070930
FILED AS OF DATE:		20071017
DATE AS OF CHANGE:		20071017

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:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		071176648

	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>10-Q
<SEQUENCE>1
<FILENAME>q2q08.htm
<DESCRIPTION>QUARTERLY REPORT FOR THE PERIOD ENDED SEPTEMBER 30, 2007
<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="5">FORM 10-Q</font></b>
<p align="left"><font face="Times New Roman, Times, serif" size="1">(Mark One)<br>
  </font><font face="Times New Roman, Times, serif" size="2">[X] QUARTERLY REPORT
  PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934<br>
  For the quarterly period ended &nbsp;&nbsp;<b><u>September 30, 2007</u></b></font></p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">or</font></p>
<p align="left"><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;&nbsp;]
  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
  ACT OF 1934<br>
  For the transition period from <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;</u>to&nbsp;<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;</u><br>
  <br>
  Commission File Number: <b><u>000-12196</u></b></font> <br>
  <br>

<div align="center"><img src="nve-logo.gif" width="276" height="54"><font face="Arial, Helvetica, sans-serif" size="6">
  <br>
  <b>NVE Corporation</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="40%">
      <p align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Minnesota</u></b></font></p>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">
        &nbsp;</font></div>
    </td>
    <td width="40%">
      <p align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>41-1424202</u></b></font></p>
    </td>
  </tr>
  <tr>
    <td>
      <p align="center"><font face="Times New Roman, Times, serif" size="2">(State
        or other jurisdiction of incorporation or organization)</font></p>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td>
      <div align="center"><font size="2" face="Times New Roman, Times, serif">(I.R.S.
        Employer Identification No.)</font></div>
    </td>
  </tr>
  <tr>
    <td width="40%">
      <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>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr>
    <td>
      <div align="center"><font size="2" face="Times New Roman, Times, serif"><b><u>11409
        Valley View Road, Eden Prairie, Minnesota</u></b></font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td>
      <p align="center"><font size="2" face="Times New Roman, Times, serif"><b><u>55344</u></b></font></p>
    </td>
  </tr>
  <tr>
    <td>
      <div align="center"><font size="2" face="Times New Roman, Times, serif">(Address
        of principal executive offices)</font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">
        &nbsp;</font></div>
    </td>
    <td>
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(Zip
        Code)</font></p>
    </td>
  </tr>
  <tr>
    <td>
      <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>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr>
    <td colspan="3">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font><font face="Times New Roman, Times, serif" size="2"><b><u>(952)
        829-9217</u></b></font><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr>
    <td colspan="3">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;</font><font face="Times New Roman, Times, serif" size="2">Registrant&#146;s
        telephone number, including area code</font></div>
      </td>
  </tr>
</table>
<p><font size="2" face="Times New Roman, Times, serif"><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate by check mark whether the registrant
  (1) has filed all reports required to be filed by Section 13 or 15(d) of the
  Securities Exchange Act of 1934 during the preceding 12 months (or for such
  shorter period that the registrant was required to file such reports), and (2)
  has been subject to such filing requirements for the past 90 days. &nbsp;[X]&nbsp;Yes
  &nbsp;[&nbsp;&nbsp;&nbsp;]&nbsp;No</font></p>
<p><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Indicate by check mark whether the registrant is a large accelerated filer,
  an accelerated filer, or a non-accelerated filer. See definition of &#147;accelerated
  filer and large accelerated filer&#148; in Rule 12b-2 of the Exchange Act. (Check
  one): </font>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="33%">
      <p align="center"><font face="Times New Roman, Times, serif" size="2">Large
        accelerated filer&nbsp;[&nbsp;&nbsp;&nbsp;]</font></p>
    </td>
    <td width="33%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">Accelerated
        filer&nbsp;[X]</font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">Non-accelerated
        filer&nbsp;[&nbsp;&nbsp;&nbsp;]</font></div>
    </td>
  </tr>
</table>
<p><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
  by check mark whether the registrant is a shell company (as defined in Rule
  12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]&nbsp;Yes
  &nbsp;[X]&nbsp;No</font></p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
  the number of shares outstanding of each of the issuer&#146;s classes of common stock,
  as of the latest practicable date.<br>
  <b>Common Stock, $0.01 Par Value - 4,635,183 shares
  outstanding as of October 12, 2007</b></font></p>
<hr>
<div align="center"><br clear="all" style="page-break-before:always;">
  <font face="Times New Roman, Times, serif" size="2"><b>NVE CORPORATION<br>
  INDEX TO FORM 10-Q</b><br>
  <br>
  </font></div>
<table  border="0" cellpadding="0" cellspacing="0">
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2"><a href="#Part1"><b>PART
        I. FINANCIAL INFORMATION</b></a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Part1">Item
        1. Financial Statements</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Part1">Balance
        Sheets</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#QIncome">Statements
        of Income for the Quarters Ended September 30, 2007 and 2006</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#YTDIncome">Statements
        of Income for the Six Months Ended September 30, 2007 and 2006</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#CashFlows">Statements
        of Cash Flows</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Notes">Notes
        to Financial Statements</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#MDA">Item
        2. Management&#8217;s Discussion and Analysis of Financial Condition and
        Results of Operations</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#MarketRisk">Item
        3. Quantitative and Qualitative Disclosures About Market Risk</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Controls">Item
        4. Controls and Procedures</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2"><a href="#Part2"><b>PART
        II. OTHER INFORMATION</b></a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Risks">Item
        1A. Risk Factors</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td><font face="Arial, Helvetica, sans-serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Votes">Item
        4. Submission of Matters to a Vote of Security Holders</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Exhibits">Item
        6. Exhibits</a></font></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
  </tr>
  <tr valign="bottom">
    <td>
      <div><font face="Times New Roman, Times, serif" size="2">&nbsp;<a href="#Signatures"><b>SIGNATURES</b></a></font></div>
    </td>
  </tr>
</table>
<p><div align="center"><font face="Times New Roman, Times, serif" size="2">2</font>
</div>
<hr> <br clear="all" style="page-break-before:always;">
<div align="center"><b><font face="Times New Roman, Times, serif" size="2"><a name="Part1"></a>PART I--FINANCIAL INFORMATION</font></b></div>
<p><font face="Times New Roman, Times, serif" size="2"><b>Item 1. Financial Statements.</b></font>
  <p>
<table border="0" cellspacing="0" cellpadding="0" align="center" >
  <tr>
    <td>
      <PRE><b>                                NVE CORPORATION
                                BALANCE SHEETS
                        SEPTEMBER 30 AND MARCH 31, 2007

                                                (Unaudited)
                                               Sept. 30, 2007   March 31, 2007*
                                               --------------   --------------
</b>ASSETS
Current assets
  Cash and cash equivalents                    $   1,159,314    $     397,423
  Marketable securities, short term                1,482,194          982,415
  Accounts receivable, net of allowance for
    uncollectible accounts of $15,000              2,330,794        2,005,005
  Inventories                                      2,145,163        2,016,858
  Deferred tax assets                                434,791        1,328,106
  Prepaid expenses and other assets                1,035,310          333,587
                                               --------------   --------------
Total current assets                               8,587,566        7,063,394
Fixed assets
  Machinery and equipment                          4,937,848        4,458,948
  Leasehold improvements                             436,794          413,482
                                               --------------   --------------
                                                   5,374,642        4,872,430
  Less accumulated depreciation                    4,047,854        3,834,683
                                               --------------   --------------
Net fixed assets                                   1,326,788        1,037,747
Marketable securities, long term                  18,389,978       16,909,353
                                               --------------   --------------
Total assets                                   $  28,304,332    $  25,010,494
                                               ==============   ==============
LIABILITIES AND SHAREHOLDERS&#146; EQUITY
Current liabilities
  Accounts payable                             $     406,795    $     502,595
  Accrued payroll and other                          422,966          590,287
  Deferred revenue                                   110,448           29,357
                                               --------------   --------------
Total current liabilities                            940,209        1,122,239
Shareholders&#146; equity
  Common stock                                        46,352           46,274
  Additional paid-in capital                      18,491,604       18,289,248
  Accumulated other comprehensive loss               (42,957)         (84,282)
  Retained earnings                                8,869,124        5,637,015
                                               --------------   --------------
Total shareholders&#146; equity                        27,364,123       23,888,255
                                               --------------   --------------
Total liabilities and shareholders&#146; equity     $  28,304,332    $  25,010,494
                                               ==============   ==============</PRE>
    </td>
  </tr>
</table>
<p align="center"><font face="Times New Roman, Times, serif" size="2">*The March
  31, 2007 Balance Sheet is derived from the audited financial statements contained
  in our Annual Report on Form 10-K for the year ended March 31, 2007.<br>
<br>
See accompanying notes.</font><br><br>
<div align="center"><font face="Times New Roman, Times, serif" size="2">3</font><br>
</div>
<hr>
<br clear="all" style="page-break-before:always;">
<a name="QIncome"></a>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                            NVE CORPORATION
                          STATEMENTS OF INCOME
               QUARTERS ENDED SEPTEMBER 30, 2007 AND 2006
                              (Unaudited)

                                            Quarter Ended September 30
                                                2007           2006
                                            ------------   ------------</b>
Revenue
  Product sales                             $ 4,311,862    $ 3,777,060
  Contract research and development             692,758        621,308
                                            ------------   ------------
Total revenue                                 5,004,620      4,398,368
Cost of sales                                 1,850,960      1,439,181
                                            ------------   ------------
Gross profit                                  3,153,660      2,959,187
Expenses
  Research and development                      314,037        566,246
  Selling, general, and administrative          575,422        535,213
                                            ------------   ------------
Total expenses                                  889,459      1,101,459
                                            ------------   ------------
Income from operations                        2,264,201      1,857,728
Interest income                                 246,857        149,440
Other income                                       -            25,246
                                            ------------   ------------
Income before taxes                           2,511,058      2,032,414
Provision for income taxes                      866,284        748,943
                                            ------------   ------------
Net income                                  $ 1,644,774    $ 1,283,471
                                            ============   ============
Net income per share &#150; basic                $      0.35    $      0.28
                                            ============   ============
Net income per share &#150; diluted              $      0.34    $      0.27
                                            ============   ============
Weighted average shares outstanding
  Basic                                       4,634,442      4,616,819
  Diluted                                     4,794,855      4,791,160</pre>
    </td>
  </tr>
</table>
<p align="center"><font face="Times New Roman, Times, serif" size="2">See accompanying notes.</font><br>
  <br>
<div align="center"><font face="Times New Roman, Times, serif" size="2">4</font><br>
</div>
<hr>
<br clear="all" style="page-break-before:always;">
<a name="YTDIncome"></a>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                            NVE CORPORATION
                          STATEMENTS OF INCOME
              SIX MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
                              (Unaudited)

                                             Six Months Ended Sept. 30
                                                2007           2006
                                            ------------   ------------</b>
Revenue
  Product sales                             $ 8,580,962    $ 6,830,388
  Contract research and development           1,132,941      1,203,175
                                            ------------   ------------
Total revenue                                 9,713,903      8,033,563
Cost of sales                                 3,293,928      2,839,002
                                            ------------   ------------
Gross profit                                  6,419,975      5,194,561
Expenses
  Research and development                      821,674      1,096,858
  Selling, general, and administrative        1,139,165        941,945
                                            ------------   ------------
Total expenses                                1,960,839      2,038,803
                                            ------------   ------------
Income from operations                        4,459,136      3,155,758
Interest income                                 471,378        261,346
Interest expense                                   -              (589)
Other income                                       -            25,246
                                            ------------   ------------
Income before taxes                           4,930,514      3,441,761
Provision for income taxes                    1,698,405      1,266,484
                                            ------------   ------------
Net income                                  $ 3,232,109    $ 2,175,277
                                            ============   ============
Net income per share &#150; basic                $      0.70    $      0.47
                                            ============   ============
Net income per share &#150; diluted              $      0.67    $      0.45
                                            ============   ============
Weighted average shares outstanding
  Basic                                       4,632,506      4,616,704
  Diluted                                     4,792,882      4,791,046</pre>
    </td>
  </tr>
</table>
<p align="center"><font face="Times New Roman, Times, serif" size="2">See accompanying notes.</font><br>
  <br>
<div align="center"><font face="Times New Roman, Times, serif" size="2">5</font><br>
</div>
<hr>
<br clear="all" style="page-break-before:always;">
<a name="CashFlows"></a><table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                NVE CORPORATION
                            STATEMENTS OF CASH FLOWS
                  SIX MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
                                  (Unaudited)

                                                     Six Months Ended Sept. 30
                                                        2007           2006
                                                    ------------   ------------
</b>OPERATING ACTIVITIES
Net income                                          $ 3,232,109    $ 2,175,277
Adjustments to reconcile net income to net
  cash provided by operating activities:
    Depreciation and amortization                       240,921        259,395
    Gain on sale of fixed assets                           -           (25,500)
    Stock-based compensation                            158,410        120,036
    Excess tax benefits                                    -        (1,102,564)
    Deferred income taxes                               874,643      1,222,184
    Changes in operating assets and liabilities:
      Accounts receivable                              (325,789)      (474,385)
      Inventories                                      (128,305)       (98,362)
      Prepaid expenses and other assets                (701,723)        (6,931)
      Accounts payable and accrued expenses            (263,121)      (178,648)
      Deferred revenue                                   81,091        (38,266)
                                                    ------------   ------------
Net cash provided by operating activities             3,168,236      1,877,736

INVESTING ACTIVITIES
Purchases of fixed assets                              (515,157)      (229,976)
Maturities of investment securities                     422,947      1,019,681
Purchases of investment securities                   (2,358,159)    (4,663,558)
                                                    ------------   ------------
Net cash used in investing activities                (2,450,369)    (3,873,853)


FINANCING ACTIVITIES
Net proceeds from sale of common stock                   44,024          1,740
Excess tax benefits                                        -         1,102,564
Repayment of capital lease obligations                     -           (32,992)
                                                    ------------   ------------
Net cash provided by financing activities                44,024      1,071,023
                                                    ------------   ------------

Increase (decrease) in cash and cash equivalents        761,891       (925,094)
Cash and cash equivalents at beginning of period        397,423      1,288,362
                                                    ------------   ------------

Cash and cash equivalents at end of period          $ 1,159,314    $ 1,696,519
                                                    ============   ============

Supplemental disclosures of cash flow information:
    Cash paid during the period for:
      Interest                                      $      -       $       589
      Income taxes                                  $ 1,484,313    $    44,300</pre>
    </td>
  </tr>
</table>
<p align="center"><font face="Times New Roman, Times, serif" size="2">See accompanying notes.</font><br>
  <font size="2" face="Times New Roman, Times, serif"><br>
  6</font><br>
<hr>
<br clear="all" style="page-break-before:always;">
<a name="Notes"></a><div align="center"><font size="2" face="Times New Roman, Times, serif"><b>NVE
  CORPORATION<br>
  NOTES TO FINANCIAL STATEMENTS<br>
  (Unaudited)</b> </font></div>
<p>
<p><font face="Times New Roman, Times, serif" size="2"><b>NOTE 1. DESCRIPTION OF BUSINESS</b>
  </font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We develop and sell devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information.</font>
<p><p>
<p><font face="Times New Roman, Times, serif" size="2"><br><b>NOTE 2. INTERIM FINANCIAL
  INFORMATION</b> </font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  accompanying unaudited financial statements of NVE Corporation are consistent
  with accounting principles generally accepted in the United States and reporting
  with Securities and Exchange Commission rules and regulations. In the opinion
  of management, these financial statements reflect all adjustments, consisting
  only of normal and recurring adjustments, necessary for a fair presentation
  of the financial statements. Although we believe that the disclosures are adequate
  to make the information presented not misleading, it is suggested that these
  unaudited financial statements be read in conjunction with the audited financial
  statements and the notes included in our latest annual financial statements
  included in our Annual Report on Form 10-K for the fiscal year ended March 31,
  2007. The results of operations for the quarter ended September 30, 2007 are
  not necessarily indicative of the results that may be expected for the full
  fiscal year ending March 31, 2008. </font>
<p>
<p>
<p><font face="Times New Roman, Times, serif" size="2"><br>
<b>NOTE 3. MARKETABLE SECURITIES</b></font>
<p>
<p> <font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
  classify and account for debt and equity securities in accordance with Financial
  Accounting Standards Board (FASB) Statement of Financial Accounting Standards
  (SFAS) No. 115, <i>Accounting for Certain Investments in Debt and Equity Securities</i>.
  Securities with original maturities greater than three months and remaining
  maturities less than one year are classified as marketable securities, short-term;
  securities with remaining maturities greater than one year are classified as
  marketable securities, long-term. Securities not due at a single maturity date,
  such as mortgage-backed securities, are classified by their average life.</font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We classify all of our marketable securities as available-for-sale, thus securities are recorded at fair market value and any associated unrealized gain or loss, net of tax, is included as a separate component of shareholders&#146; equity, &#147;Accumulated other comprehensive income.&#148;</font>
<p>
<p>
<p><font face="Times New Roman, Times, serif" size="2"><br>
<b>NOTE 4. COMPREHENSIVE INCOME</b></font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  components of comprehensive income are as follows:</font><p>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                           Quarter Ended September 30
                                              2007             2006
                                          ------------     ------------</b>
Net income                                $ 1,644,774      $ 1,283,471
Unrealized gain from investments              130,513           82,649
                                          ------------     ------------
Comprehensive income                      $ 1,775,287      $ 1,366,120
                                          ============     ============
</pre>
    </td>
  </tr>
</table>
<br>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                          Six Months Ended September 30
                                              2007             2006
                                          ------------     ------------</b>
Net income                                $ 3,232,109      $ 2,175,277
Unrealized gain from investments               41,324           50,379
                                          ------------     ------------
Comprehensive income                      $ 3,273,433      $ 2,225,656
                                          ============     ============
</pre>
    </td>
  </tr>
</table>
<div align="center"><br><font size="2" face="Times New Roman, Times, serif">7</font><br>
</div>
<hr><br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><b>NOTE 5. INVENTORIES</b>
</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories
  consisted of the following:<br>
  <br>
  </font>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                             September 30       March 31
                                 2007             2007
                             ------------     ------------</b>
Raw materials                $   757,918      $   862,440
Work-in-process                1,075,254          811,261
Finished goods                   561,991          583,157
                             ------------     ------------
                               2,395,163        2,256,858
Less obsolescence reserve       (250,000)        (240,000)
                             ------------     ------------
                             $ 2,145,163      $ 2,016,858
                             ============     ============
</pre>
    </td>
  </tr>
</table>
<p><b><font face="Times New Roman, Times, serif" size="2">NOTE 6. STOCK-BASED COMPENSATION</font></b>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based
  compensation recognized under SFAS No. 123 (revised 2004), <i>Share-Based Payment</i>,
  was $151,118 for the second quarter of fiscal 2008; $117,467 for the second
  quarter of fiscal 2007; $158,410 for the first six months of fiscal 2008; and
  $120,036 for the first six months of fiscal 2007. We calculate the share-based
  compensation expense on a straight-line basis over the vesting periods of the
  related share-based awards.</font>
<p><br>
<font face="Times New Roman, Times, serif" size="2"><b>NOTE 7. INCOME TAXES</b></font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred
  income taxes reflect the net tax effects of temporary differences between the
  carrying amount of assets and liabilities for financial reporting purposes and
  the amounts used for income tax purposes. Under SFAS No.&nbsp;109, <i>Accounting
  for Income Taxes</i>, our stock-based compensation deductions do not reduce
  the provision for income taxes reported for book purposes but are credited to
  &#147;Additional paid-in capital.&#148; Tax provisions of nil for the six months
  ended September 30, 2007 and $1,261,249 for the six months ended September 30,
  2006 were credited to &#147;Additional paid-in capital.&#148;</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
  July 2006 the Financial Accounting Standards Board issued Interpretation No.
  48, <i>Accounting for Uncertainty in Income Taxes - an interpretation of FASB
  Statement No. 109</i>, which prescribes a recognition threshold and measurement
  attribute for the financial statement recognition and measurement of a tax position
  taken or expected to be taken in a tax return. FIN 48 seeks to reduce the diversity
  in practice associated with certain aspects of the recognition and measurement
  related to accounting for income taxes. This interpretation is effective for
  fiscal years beginning after December&nbsp;15, 2006. We adopted the provisions of
  FIN 48 on April&nbsp;1, 2007. We recognized no material adjustment in the liability
  for unrecognized income tax benefits as a result of the adoption, and at the
  adoption date of April&nbsp;1, 2007 we had no unrecognized tax benefits that would
  affect our effective tax rate if recognized. At September&nbsp;30, 2007 we had
  no unrecognized tax benefits. We do not believe unrecognized tax benefits will
  significantly change within twelve months of the reporting date. We recognize
  interest and penalties related to income tax matters in income tax expense.
  As of April&nbsp;1, 2007 we had no accrued interest related to uncertain tax
  positions. The tax years 2003 through 2006 remain open to examination by the
  major taxing jurisdictions to which we are subject.</font>
<div align="center"><font size="2" face="Times New Roman, Times, serif"><br>8</font><br>
</div><hr>
<br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman, Times, serif" size="2"><b>NOTE 8. CONTINGENCIES</b></font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
  February&nbsp;10, 2006 a lawsuit was filed against NVE and certain of its current
  and former executive officers and directors in the U.S. District Court for the
  District of Minnesota by an individual shareholder seeking to represent a class
  of purchasers of our common stock during the period from May&nbsp;22, 2003 through
  February&nbsp;11, 2005. On March&nbsp;6 and March&nbsp;7, 2006, two additional
  lawsuits were filed in the same court by two additional NVE shareholders, with
  the same proposed class period, purporting to represent the same class. These
  lawsuits were subsequently consolidated into a single case and a consolidated
  complaint was filed. The consolidated complaint generally alleged that the defendants
  violated the Securities Exchange Act of 1934 by issuing material misrepresentations
  concerning NVE&#146;s projected revenues and product technology, which artificially
  inflated the market price of our common stock. On July 3, 2007 the U.S. District
  Court granted our motion to dismiss these consolidated lawsuits, with prejudice,
  after finding that the consolidated complaint failed to adequately plead the
  plaintiffs&#146; claims. Two related actions brought by individual shareholders
  who seek to represent NVE derivatively were filed in Hennepin County District
  Court. These related actions were subsequently consolidated into a single case
  and an amended derivative complaint was filed. The amended derivative complaint
  generally alleges that certain officers and directors violated their fiduciary
  duties to the company.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because
  there is a possibility of a successful appeal by the plaintiffs and the court
  has yet to rule on the derivative actions, we are unable to determine the ultimate
  disposition of these lawsuits and have therefore not recorded a liability on
  our balance sheet related to these actions. We have incurred and expect to continue
  to incur legal expenses related to these lawsuits.</font>
<p><br>
  <a name="MDA"></a><font face="Times New Roman, Times, serif" size="2"><b>Item
  2. Management&#146;s Discussion and Analysis of Financial Condition and Results of
  Operation.</b></font>
<p>
<p>
<p><font face="Times New Roman, Times, serif" size="2"><b>Forward-looking statements</b></font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Some
  of the statements made in this Report or in the documents incorporated by reference
  in this Report and in other materials filed or to be filed by us with the Securities
  and Exchange Commission (&#147;SEC&#148;) as well as information included in verbal or
  written statements made by us constitute forward-looking statements within the
  meaning of the Private Securities Litigation Reform Act of 1995. These statements
  are subject to the safe harbor provisions of the reform act. Forward-looking
  statements may be identified by the use of the terminology such as may, will,
  expect, anticipate, intend, believe, estimate, should, or continue, or the negatives
  of these terms or other variations on these words or comparable terminology.
  To the extent that this Report contains forward-looking statements regarding
  the financial condition, operating results, business prospects or any other
  aspect of NVE, you should be aware that our actual financial condition, operating
  results and business performance may differ materially from that projected or
  estimated by us in the forward-looking statements. We have attempted to identify,
  in context, some of the factors that we currently believe may cause actual future
  experience and results to differ from their current expectations. These differences
  may be caused by a variety of factors, including but not limited to adverse
  economic conditions, competition including entry of new competitors, progress
  in research and development activities by us and others, variations in costs
  that are beyond our control, adverse legal proceedings, lower sales, failure
  of suppliers to meet our requirements, failure to obtain new customers, inability
  to carry out marketing and sales plans, inability to meet customer technical
  requirements, inability to consummate license agreements, ineligibility for
  SBIR awards, loss of key executives, and other specific risks that may be alluded
  to in this Report. Further information regarding our risks and uncertainties
  are contained in Part I Item 1A &#147;Risk Factors&#148; of our Annual Report
  on Form&nbsp;10-K for the year ended March&nbsp;31,&nbsp;2007 as updated in
  Part II Item 1A of this Report.</font>
<p><br>
  <font face="Times New Roman, Times, serif" size="2"><b>General</b></font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVE
  Corporation, referred to as NVE, we, us, or our, develops and sells devices
  that use spintronics, a nanotechnology that relies on electron spin rather than
  electron charge to acquire, store and transmit information. We manufacture high-performance
  spintronic products including sensors and couplers that are used to acquire
  and transmit data. We have also licensed our spintronic magnetoresistive random
  access memory technology, commonly known as MRAM.</font>
<div align="center"><font size="2" face="Times New Roman, Times, serif"><br>
  9</font><br>
</div>
<hr><br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><b>Quarter ended September
30, 2007 compared to quarter ended September 30, 2006</b></font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  table shown below summarizes the percentage of revenue and quarter-to-quarter
  changes for various items:</font><br>
  <br>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                      Percentage of Revenue              Quarter-
                                      Quarter Ended Sept. 30            to-Quarter
                                      2007              2006             Change
                                    --------          --------          ---------</b>
Revenue
  Product sales                       86.2 %            85.9 %             14.2 %
  Contract research and development   13.8 %            14.1 %             11.5 %
                                    --------          --------
Total revenue                        100.0 %           100.0 %             13.8 %
Cost of sales                         37.0 %            32.7 %             28.6 %
                                    --------          --------
Gross profit                          63.0 %            67.3 %              6.6 %
Total expenses                        17.8 %            25.1 %            (19.2)%
                                    --------          --------
Income from operations                45.2 %            42.2 %             21.9 %
Net interest and other income          5.0 %             4.0 %             41.3 %
                                    --------          --------
Income before taxes                   50.2 %            46.2 %             23.6 %
Provision for income taxes            17.3 %            17.0 %             15.7 %
                                    --------          --------
Net income                            32.9 %            29.2 %             28.2 %
                                    ========          ========
</pre>
    </td>
  </tr>
</table>
<br>
<font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
revenue for the quarter ended September 30, 2007 (the second quarter of fiscal
2008) increased 14% to $5,004,620 compared to $4,398,368 for the quarter ended
September 30, 2006 (the second quarter of fiscal 2007). The increase was due to
a 14% increase in product sales and a 12% increase in research and development
revenue.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross
  profit margin decreased to 63% of revenue for the second quarter of fiscal 2008
  compared to 67% for the second quarter of fiscal 2007. The decrease was primarily
  due to a less profitable product mix.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research
  and development expense decreased 45% to $314,037 for the second quarter of
  fiscal 2008 compared to $566,246 for the second quarter of fiscal 2007. The
  decrease was due to the completion of certain research and development projects.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling,
  general, and administrative expense for the second quarter of fiscal 2008 increased
  8% to $575,422 compared to $535,213 for the second quarter of fiscal 2007. The
  increase in selling, general, and administrative expense for the second quarter
  of fiscal 2008 was primarily due to a $33,651 increase in the effect of SFAS
  No. 123(R) compared to the second quarter of fiscal 2007. Expense under SFAS
  No. 123(R) for the second quarter of fiscal 2008 was entirely due to the issuance
  of automatic stock options to our non-employee directors on their reelection
  to our Board. The increase in the effect of SFAS No. 123(R) compared to the
  prior-year quarter was primarily due to a higher stock price at the date of
  grant compared to the prior-year date of grant.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
  income increased 65% to $246,857 for the second quarter of fiscal 2008 compared
  to $149,440 for the second quarter of fiscal 2007. The increase was primarily
  due to an increase in interest-bearing marketable securities.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  28% increase in net income in the second quarter of fiscal 2008 compared to
  the second quarter of fiscal 2007 was due to increases in revenue, gross profit,
  and interest income, and a decrease in total expenses.</font>
<p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">10</font><br>
<hr><br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><b>Six months ended September
30, 2007 compared to six months ended September 30, 2006</b></font>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  table shown below summarizes the percentage of revenue and period-to-period
  changes for various items:</font><br>
  <br>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                      Percentage of Revenue              Period-
                                    Six Months Ended Sept. 30           to-Period
                                      2007              2006             Change
                                    --------          --------          ---------</b>
Revenue
  Product sales                       88.3 %            85.0 %             25.6 %
  Contract research and development   11.7 %            15.0 %             (5.8)%
                                    --------          --------
Total revenue                        100.0 %           100.0 %             20.9 %
Cost of sales                         33.9 %            35.3 %             16.0 %
                                    --------          --------
Gross profit                          66.1 %            64.7 %             23.6 %

Total expenses                        20.2 %            25.4 %             (3.8)%
                                    --------          --------
Income from operations                45.9 %            39.3 %             41.3 %
Net interest and other income          4.9 %             3.5 %             64.8 %
                                    --------          --------
Income before taxes                   50.8 %            42.8 %             43.3 %
Provision for income taxes            17.5 %            15.8 %             34.1 %
                                    --------          --------
Net income                            33.3 %            27.0 %             48.6 %
                                    ========          ========
</pre>
    </td>
  </tr>
</table>
<br>
<font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
revenue for the six months ended September 30, 2007 increased 21% to $9,713,903
compared to $8,033,563 for the six months ended September 30, 2006. The increase
was due to a 26% increase in product sales partially offset by a 6% decrease in
research and development revenue.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross
  profit margin increased to 66% of revenue for the first six months of fiscal
  2008 compared to 65% for the first six months of fiscal 2007. The increase was
  primarily due to a more favorable revenue mix consisting of a higher percentage
  of product sales.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research
  and development expense decreased 25% to $821,674 for the first six months of
  fiscal 2008 compared to $1,096,858 for the first six months of fiscal 2007.
  The decrease was due to the completion of certain research and development projects.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling,
  general, and administrative expense for the first six months of fiscal 2008
  increased 21% to $1,139,165 compared to $941,945 for the first six months of
  fiscal 2007. The increase was primarily due to increased expenses relating to our fiscal year-end audit including Sarbanes-Oxley Act
  Section 404 compliance costs, and a $38,374 increase
  in the effect of SFAS No. 123(R).</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
  income increased 80% to $471,378 for the first six months of fiscal 2008 compared
  to $261,346 for the first six months of fiscal 2007. The increase was primarily
  due to an increase in interest-bearing marketable securities.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  49% increase in net income in the first six months of fiscal 2008 compared to
  the first six months of fiscal 2007 was due to increases in revenue, gross profit,
  and interest income.</font>
<p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">11</font><br>
<hr><br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><b>Liquidity and capital resources</b></font>
<p>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
  September 30,&nbsp;2007 we had $21,031,486 in cash plus short-term and long-term
  marketable securities compared to $18,289,191 at March&nbsp;31,&nbsp;2007. Our
  entire portfolio of short-term and long-term marketable securities is classified
  as available for sale. The increase in cash plus marketable securities in the
  first six months of fiscal 2008 was primarily due to cash generated from operations
  partially offset by $515,157 in purchases of fixed assets, and payments of $1,484,313 for income taxes.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases
  of fixed assets were $515,157 for the first six months of fiscal 2008 compared to $229,976 for the first six months of fiscal
  2007. The purchases were primarily for capital equipment to increase our production
  capacity. Purchases of fixed assets were financed with cash provided by operating
  activities.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
  paid for income taxes increased $1,440,013 in the first six months of fiscal
  2008 compared to the first six months of fiscal 2007 as we began paying regular
  income taxes in the second quarter of fiscal 2008 because our stock-based compensation
  deductions and tax credits were fully utilized. We did not pay cash taxes, other
  than Alternative Minimum Taxes, for the first six months of fiscal 2007 because
  of stock-based compensation deductions. Payment of cash taxes does not affect
  our reported net income compared to prior-year periods because we provided provisions
  for income taxes in prior years.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
  currently believe our working capital is adequate for our needs at least for
  the next 12 months.</font>
<p> <br>
  <font face="Times New Roman, Times, serif" size="2"><b><a name="MarketRisk"></a>Item
  3. Quantitative and Qualitative Disclosures About Market Risk.</b></font>
<p>
<p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  primary objective of our investment activities is to preserve principal while
  at the same time maximizing yields without significantly increasing risk. To
  achieve this objective, we maintain our portfolio of cash equivalents and marketable
  securities in a variety of securities including government and corporate obligations
  and money market funds. Short-term and long-term marketable securities are generally
  classified as available-for-sale and consequently are recorded on the balance
  sheet at fair value with unrealized gains or losses reported as a separate component
  of accumulated other comprehensive income (loss), net of estimated tax. Marketable
  securities as of September 30, 2007 had remaining maturities between two weeks
  and 57 months. Our marketable securities had a fair market value of $19,872,172 at September 30, 2007, representing approximately
  70% of our total assets. We have not used derivative financial instruments in
  our investment portfolio.</font>
<p><br>
<p><a name="Controls"></a><font face="Times New Roman, Times, serif" size="2"><b>Item 4. Controls and Procedures.</b></font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Management, with the participation of the Chief Executive Officer and
  Chief Financial Officer, has performed an evaluation of our disclosure controls
  and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities
  Exchange Act) as of the end of the period covered by this report. This evaluation
  included consideration of the controls, processes and procedures that are designed
  to ensure that information required to be disclosed by us in the reports we
  file under the Exchange Act is recorded, processed, summarized and reported
  within the time periods specified in the SEC&#146;s rules and forms and that
  such information is accumulated and communicated to our management, including
  or Chief Executive Officer and Chief Financial Officer, as appropriate to allow
  timely decisions regarding required disclosure. Based on such evaluation, our
  Chief Executive Officer and Chief Financial Officer concluded that, as of as
  of the end of the period covered by this report, our disclosure controls and
  procedures were effective.</font>
<p align="center"><font face="Times New Roman, Times, serif" size="2">12<br></font>
<hr><br clear="all" style="page-break-before:always;">
<div align="center"><a name="Part2"></a>
  <font size="2" face="Times New Roman, Times, serif"><b>PART II--OTHER INFORMATION</b></font>
</div>
<p><a name="Risks"></a><font face="Times New Roman, Times, serif" size="2"><b>Item 1A. Risk Factors.</b></font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
  than with respect to the risk factor updated below, there have been no material
  changes from the risk factors disclosed in our Annual Report on Form 10-K for
  the fiscal year ended March 31, 2007 as updated in our Quarterly Report on Form
  10-Q for the quarter ended June 30, 2007. The risk factor below was disclosed
  on the Form 10-K, and is being updated in light of amendments to agreements
  with Agilent Technologies, Inc. and St. Jude Medical Inc.</font>
<p><br>
  <font face="Times New Roman, Times, serif" size="2"><b><i>We may lose revenue
  if we are unable to renew agreements with large customers.</i></b></font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
  Supplier Partnering Agreement with St. Jude Medical, as amended, expires December
  31, 2009 and an agreement between Agilent Technologies, Inc. and us and subsequently
  assigned to Avago Technologies, Inc., as amended, expires June 27, 2010. Although
  both agreements were amended and extended in September 2007, we cannot predict
  if either agreement will be renewed again, or if renewed, under what terms.
  Furthermore, neither agreement obligates the customer to purchase from us, and
  the loss of either Avago (which purchases components under the Agilent agreement)
  or St. Jude as customers could have a significant adverse impact on our revenue
  and our profitability.</font>
<p><br>
  <font face="Times New Roman, Times, serif" size="2"><b><a name="Votes"></a>Item
  4. Submission of Matters to a Vote of Security Holders.</b></font>
<p><font face="Times New Roman, Times, serif" size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
  Annual Meeting of Shareholders was held on September 6, 2007. Proxies for the
  meeting were solicited pursuant to Regulation 14 under the Exchange Act. All
  of our directors attended the meeting. The Annual Meeting was held for the following
  purposes: (1) to elect five directors to serve until the next Annual Meeting
  of Shareholders; and (2) to ratify the selection of Ernst &amp; Young LLP as
  our independent registered public accounting firm for the fiscal year ending
  March 31, 2008. There were 4,632,383 shares of common stock entitled to vote
  at the meeting with a majority represented at the meeting. The Board of Directors
  recommended a vote for election of the director nominees as listed in our proxy
  statement and for ratification of the selection of our independent registered
  public accounting firm. There was no solicitation in opposition.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
  director nominee was reelected to serve as a director until our next Annual
  Meeting of Shareholders. Each director nominee, Terrence W. Glarner, Daniel
  A. Baker, James D. Hartman, Patricia M. Hollister, and Robert H. Irish, received
  more than 97% of the shares voted in their favor. The selection of of our independent registered public accounting firm
  was ratified with more than 97% of the shares voted in favor.</font>
<div align="center"><font size="2" face="Times New Roman, Times, serif"><br>13</font><br>
</div><hr><br clear="all" style="page-break-before:always;">
  <a name="Exhibits"></a><font face="Times New Roman, Times, serif" size="2"><b>Item
  6. Exhibits.</b></font><br>
<br>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="10%">
      <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%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;10.1+</font></div>
    </td>
    <td> </td>
    <td width="88%">
      <div align="left"><font face="Times New Roman, Times, serif" size="2">Amendment
        Number 1 to Supplier Partnering Agreement dated September 6, 2007 between
        Pacesetter, Inc., a St. Jude Medical Company, d.b.a. St. Jude Medical
        Cardiac Rhythm Management Division, and the company (incorporated by reference
        to our Current Report on Form 8-K/A filed September 10, 2007).</font></div>
    </td>
  </tr>
  <tr>
    <td width="8%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td></td>
    <td width="88%"></td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">10.2+</font></div>
    </td>
    <td></td>
    <td width="88%">
      <div align="left"><font size="2" face="Times New Roman, Times, serif">Amendment
        Number 2 to OEM Purchase Agreement dated September 10, 2007 to Agreement
        between Agilent Technologies, Inc. (and subsequently assigned to Avago
        Technologies, Inc.) and the company (incorporated by reference to our
        Exhibit 10.5 filed with our Current Report on Form 8-K/A filed September
        11, 2007).</font></div>
    </td>
  </tr>
  <tr>
    <td width="8%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td></td>
    <td width="88%"></td>
  </tr>
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">31.1</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="left"><font face="Times New Roman, Times, serif" size="2"> Certification
        by Daniel A. Baker pursuant to Rule 13a-14(a)/15d-14(a). </font></div>
    </td>
  </tr>
  <tr>
    <td width="8%"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
    <td></td>
    <td width="88%"> </td>
  </tr>
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">31.2</font></div>
    </td>
    <td> <font face="Times New Roman, Times, serif" size="2">&nbsp;</font> </td>
    <td width="88%">
      <div align="left"><font face="Times New Roman, Times, serif" size="2"> Certification
        by Curt A. Reynders pursuant to Rule 13a-14(a)/15d-14(a).</font></div>
    </td>
  </tr>
  <tr>
    <td width="8%"> <font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
    <td> </td>
    <td width="88%"> </td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">32</font></div>
    </td>
    <td>
    </td>
    <td width="88%">
      <div align="left"><font face="Times New Roman, Times, serif" size="2">Certification
        by Daniel A. Baker and Curt A. Reynders pursuant to 18 U.S.C. Section
        1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
        2002.</font></div>
    </td>
  </tr>
</table>
<p><font face="Times New Roman, Times, serif" size="2">+Confidential portions
  of this exhibit have been deleted and filed separately with the SEC under a
  request for confidential treatment pursuant to Rule 24b-2 or Rule 406.</font></p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">14</font><br>
<hr><br clear="all" style="page-break-before:always;">
<div align="center"><a name="Signatures"></a><font face="Times New Roman, Times, serif" size="2"><b>SIGNATURES</b></font></div>
<p><font face="Times New Roman, Times, serif" size="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 thereunto duly authorized.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="25%">
    </td>
    <td><font size="2" face="Times New Roman, Times, serif"><b><u>NVE CORPORATION</u></b></font></td>
  </tr>
  <tr>
    <td width="25%">
      <font size="2" face="Times New Roman, Times, serif">&nbsp;</font>
    </td>
    <td> <font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</font></td>
  </tr>
  <tr>
    <td width="25%">
      <font size="2" face="Times New Roman, Times, serif">&nbsp;</font>
    </td>
    <td></td>
  </tr>
  <tr>
    <td width="25%">
      <div align="center"><font size="2" face="Times New Roman, Times, serif"><b><u>October 17, 2007</u></b></font></div>
    </td>
    <td> <font size="2" face="Times New Roman, Times, serif"><u>/s/ DANIEL A.
      BAKER&nbsp;</u></font></td>
  </tr>
  <tr>
    <td width="25%">
      <div align="center"><font size="2" face="Times New Roman, Times, serif">Date</font></div>
    </td>
    <td><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Signature)</font></td>
  </tr>
  <tr>
    <td width="25%">
          </td>
    <td>
      <font size="2" face="Times New Roman, Times, serif"> Daniel A. Baker</font>
    </td>
  </tr>
  <tr>
    <td width="25%">
    </td>
    <td><font size="2" face="Times New Roman, Times, serif">President and Chief Executive Officer</font></td>
  </tr>
  <tr>
    <td width="25%">
      <font size="2" face="Times New Roman, Times, serif">&nbsp;</font>
    </td>
    <td></td>
  </tr>
  <tr>
    <td width="25%">
      <div align="center"><font size="2" face="Times New Roman, Times, serif"><b><u>October 17, 2007</u></b></font></div>
    </td>
    <td>
      <div align="left"><font size="2" face="Times New Roman, Times, serif"><u>/s/
        CURT A. REYNDERS&nbsp;</u></font></div>
    </td>
  </tr>
  <tr>
    <td width="25%">
      <div align="center"><font size="2" face="Times New Roman, Times, serif">Date</font></div>
    </td>
    <td><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Signature)</font></td>
  </tr>
  <tr>
    <td>
    </td>
    <td> <font size="2" face="Times New Roman, Times, serif">Curt A. Reynders</font></td>
  </tr>
  <tr>
    <td width="25%"></td>
    <td><font size="2" face="Times New Roman, Times, serif">Chief Financial Officer</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<div align="center"><font size="2" face="Times New Roman, Times, serif">15</font></div>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31
<SEQUENCE>2
<FILENAME>ex31-dab.htm
<DESCRIPTION>CERTIFICATION BY DANIEL A. BAKER PURSUANT TO RULE 13A-14(A)/15D-14(A).
<TEXT>
<html><div style="font-family:Times New Roman;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
    31.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CERTIFICATION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I,
    Daniel A. Baker, certify that:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>I have reviewed this Quarterly Report on Form 10-Q of NVE Corporation;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Based on my knowledge, the
financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the periods
presented in this report;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>The registrant&#146;s other certifying officer(s) and I are responsible
    for establishing and maintaining disclosure controls and procedures (as defined
    in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
    reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
    registrant and have:</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>Designed such disclosure controls and procedures, or caused such disclosure
    controls and procedures to be designed under our supervision, to ensure that
    material information relating to the registrant, including its consolidated
    subsidiaries, is made known to us by others within those entities, particularly
    during the period in which this report is being prepared;</p>
  <br>
  <p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Designed
    such internal control over financial reporting, or caused such internal control
    over financial reporting to be designed under our supervision, to provide
    reasonable assurance regarding the reliability of financial reporting and
    the preparation of financial statements for external purposes in accordance
    with generally accepted accounting principles;&nbsp;</font></p>
  <br>
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>Evaluated the effectiveness of the registrant&#146;s disclosure controls
    and procedures and presented in this report our conclusions about the effectiveness
    of the disclosure controls and procedures, as of the end of the period covered
    by this report based on such evaluation; and</p>
  <br>
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>Disclosed in this report any change in the registrant&#146;s internal
    control over financial reporting that occurred during the registrant&#146;s
    most recent fiscal quarter (the registrant&#146;s fourth fiscal quarter in
    the case of an annual report) that has materially affected, or is reasonably
    likely to materially affect, the registrant&#146;s internal control over financial
    reporting; and</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The registrant&#146;s other certifying
officer(s) and I have disclosed, based on our most recent evaluation of
internal control over financial reporting, to the registrant&#146;s auditors and the
audit committee of the registrant&#146;s board of directors (or persons performing
the equivalent functions):</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>All significant deficiencies and
material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the
registrant&#146;s ability to record, process, summarize and report financial
information; and</p>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any fraud, whether or not material,
that involves management or other employees who have a significant role in the
registrant&#146;s internal control over financial reporting.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:
    October 17, 2007</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign="top" style="padding:0in 0in 0in 0in;width:50%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25%;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/
          DANIEL A. BAKER</font></p>
  </td>
  <td valign="top" style="padding:0in 0in 0in 0in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.38%;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Daniel
          A. Baker</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.38%;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President
          and Chief Executive Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31
<SEQUENCE>3
<FILENAME>ex31-car.htm
<DESCRIPTION>CERTIFICATION BY CURT A. REYNDERS PURSUANT TO RULE 13A-14(A)/15D-14(A).
<TEXT>
<html><div style="font-family:Times New Roman;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
    31.2</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CERTIFICATION</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, Curt A. Reynders, certify that:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>I have reviewed this Quarterly Report on Form 10-Q of NVE Corporation;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Based on my knowledge, the
financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the periods
presented in this report;</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>The registrant&#146;s other certifying officer(s) and I are responsible
    for establishing and maintaining disclosure controls and procedures (as defined
    in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
    reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
    registrant and have:</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>Designed such disclosure controls and procedures, or caused such disclosure
    controls and procedures to be designed under our supervision, to ensure that
    material information relating to the registrant, including its consolidated
    subsidiaries, is made known to us by others within those entities, particularly
    during the period in which this report is being prepared;</p>
  <br>
  <p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Designed
    such internal control over financial reporting, or caused such internal control
    over financial reporting to be designed under our supervision, to provide
    reasonable assurance regarding the reliability of financial reporting and
    the preparation of financial statements for external purposes in accordance
    with generally accepted accounting principles;&nbsp;</font></p>
  <br>
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>Evaluated the effectiveness of the registrant&#146;s disclosure controls
    and procedures and presented in this report our conclusions about the effectiveness
    of the disclosure controls and procedures, as of the end of the period covered
    by this report based on such evaluation; and</p>
  <br>
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>Disclosed in this report any change in the registrant&#146;s internal
    control over financial reporting that occurred during the registrant&#146;s
    most recent fiscal quarter (the registrant&#146;s fourth fiscal quarter in
    the case of an annual report) that has materially affected, or is reasonably
    likely to materially affect, the registrant&#146;s internal control over financial
    reporting; and</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The registrant&#146;s other certifying
officer(s) and I have disclosed, based on our most recent evaluation of
internal control over financial reporting, to the registrant&#146;s auditors and the
audit committee of the registrant&#146;s board of directors (or persons performing
the equivalent functions):</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>All significant deficiencies and
material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the
registrant&#146;s ability to record, process, summarize and report financial
information; and</p>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Any fraud, whether or not material,
that involves management or other employees who have a significant role in the
registrant&#146;s internal control over financial reporting.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:
    October 17, 2007</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td valign="top" style="padding:0in 0in 0in 0in;width:50%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ CURT A.
  REYNDERS</font></p>
  </td>
  <td valign="top" style="padding:0in 0in 0in 0in;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Curt A. Reynders</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:45.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial
  Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>

</div>
</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>4
<FILENAME>ex32.htm
<DESCRIPTION>CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.
<TEXT>
<html>
<div style="font-family:Times New Roman;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
    32</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CERTIFICATION PURSUANT TO SECTION 906</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OF THE SARBANES-OXLEY ACT OF 2002 (18 U.S.C.
SECTION 1350)</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned certify pursuant to
18 U.S.C. Section 1350, that to the undersigned&#146;s knowledge:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </font>The accompanying Quarterly Report of NVE Corporation (the &#147;Company&#148;)
    on Form 10-Q for the quarter ended September 30, 2007, fully complies with
    the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
    of 1934; and</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The information contained in the
Report fairly presents, in all material respects, the financial condition and
results of operations of the Company.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:
    October 17, 2007</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
      <td valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25%;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/
          DANIEL A. BAKER</font></p>
  </td>
      <td valign="top" style="padding:0in 0in 0in 0in;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
      <td colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Daniel A. Baker</font></p>
  </td>
 </tr>
 <tr>
      <td colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and
  Chief Executive Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
      <td valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:25%;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/
          CURT A. REYNDERS</font></p>
  </td>
      <td wvalign="top" style="padding:0in 0in 0in 0in;">
        <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Curt A. Reynders</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial
  Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A signed original of this written
statement required by Section 906 has been provided to the Company and will be
retained by the Company and furnished to the Securities and Exchange Commission
or its staff upon request.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="2" width="100%" noshade color="gray" align="left"></div>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
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<DESCRIPTION>NVE CORPORATION LOGO
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