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<SEC-DOCUMENT>0000724910-07-000017.txt : 20071017
<SEC-HEADER>0000724910-07-000017.hdr.sgml : 20071017
<ACCEPTANCE-DATETIME>20071017160749
ACCESSION NUMBER:		0000724910-07-000017
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20071017
ITEM INFORMATION:		Results of Operations and Financial Condition
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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		071176600

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

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREMIS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>q2-08cvr.htm
<DESCRIPTION>CURRENT REPORT ON FORM 8-K
<TEXT>
<p align="center"> <font face="Times New Roman, Times, serif" size="5"><b>UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</b></font><b><font face="Times New Roman, Times, serif" size="2"><br>
  Washington, D.C.&nbsp;&nbsp;20549</font></b></p>
<p align="center"><b><font face="Times New Roman, Times, serif" size="2"> <font size="5">FORM
  8-K</font></font></b></p>
<p align="center"><b><font face="Times New Roman, Times, serif" size="3">CURRENT REPORT<br>
  </font></b><font face="Times New Roman, Times, serif" size="3"><b>Pursuant to
  Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font></p>
<p><font face="Times New Roman, Times, serif" size="2"><br>
  Date of Report (Date of earliest event reported)&nbsp;&nbsp;<b><u>October 17, 2007</u></b><br>
  </font></p>
<div align="center"><b><font size="6" face="Arial, Helvetica, sans-serif"><img src="nve-logo.gif" width="276" height="55"><br>
  NVE Corporation</font></b><font face="Times New Roman, Times, serif" size="2"><br>
  (Exact name of registrant as specified in its charter)</font></div>
<font face="Times New Roman, Times, serif" size="2">
<div align="center">
  <p>&nbsp;</p>
</div>
</font>
<div align="center"></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="33%">
      <p align="center"><font face="Times New Roman, Times, serif"><b><font size="2" ><u>Minnesota</u></font></b></font></p>
    </td>
    <td width="33%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>000-12196</u>
        </b> </font></div>
    </td>
    <td>
      <p align="center"><b><font size="2" face="Times New Roman"><u>41-1424202</u></font></b></p>
    </td>
  </tr>
  <tr>
    <td width="33%">
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(State
        or other jurisdiction of incorporation)</font></p>
    </td>
    <td width="33%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">(Commission File Number) </font></div>
    </td>
    <td>
      <div align="center"><font size="2" face="Times New Roman, Times, serif">(IRS Employer Identification No.)</font></div>
    </td>
  </tr>
</table>
<br>
<br>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="25%">
      <p align="center"><font face="Times New Roman, Times, serif"><b><font size="2">&nbsp;</font></b></font></p>
    </td>
    <td width="50%">
      <p align="center"><font size="2"><b><u>11409 Valley View Road, Eden Prairie, Minnesota</u></b></font></p>
    </td>
    <td>
      <p align="center"><font size="2"><b><font face="Times New Roman" ><u>55344</u></font></b></font></p>
    </td>
  </tr>
  <tr>
    <td width="25%">
      <p align="center"><font size="2">&nbsp;</font></p>
    </td>
    <td width="50%">
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(Address of principal executive offices)</font></p>
    </td>
    <td>
      <p align="center"><font size="2">(Zip Code)</font></p>
    </td>
  </tr>
</table>
<br>
<font size="2" face="Times New Roman, Times, serif"> Registrant&#146;s telephone
number, including area code <b><u>(952) 829-9217</u></b><br>
</font>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
  </font><font face="Times New Roman, Times, serif" size="2">(Former name or former
  address, if changed since last report.)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions (see General
  Instruction A.2. below):</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Written
  communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Soliciting
  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<hr> <br clear="all" style="page-break-before:always;">
<p><font face="Times New Roman, Times, serif" size="2"><b>Item 2.02. Results of
  Operations and Financial Condition</b><br>
  </font></p>
<p style="text-indent:.5in;"><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furnished
  as Exhibit 99 is a press release of NVE Corporation reporting results for the
  quarter ended September 30, 2007.</font></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">2</font></p>
<hr> <br clear="all" style="page-break-before:always;"><p align="center"><font face="Times New Roman, Times, serif" size="2"> <b>SIGNATURE</b></font></p>
<p style="text-indent:.5in;"><font face="Times New Roman, Times, serif" size="2">
  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant
  has duly caused this report to be signed on its behalf by the undersigned hereunto
  duly authorized.</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="102%">
  <tr>
    <td width="25%">
      <p align="left"><font face="Times New Roman, Times, serif" size="2">Date&nbsp;&nbsp;<b><u>October
        17, 2007</u></b></font></p>
    </td>
    <td>
      <p align="left"><font face="Times New Roman, Times, serif" size="2"><b><u>NVE
        CORPORATION</u></b></font></p>
    </td>
  </tr>
  <tr>
    <td width="25%">
      <p align="center"><font size="2">&nbsp;</font></p>
    </td>
    <td>
      <p align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</font></p>
    </td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td>
      <div align="left"><font face="Times New Roman, Times, serif" size="2"><u>/s/
        CURT A. REYNDERS&nbsp;</u></font></div>
    </td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Signature)</font></td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td>
      <div align="left"><font face="Times New Roman, Times, serif" size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Curt
        A. Reynders</font></div>
    </td>
  </tr>
  <tr>
    <td width="25%">&nbsp;</td>
    <td> <font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;Chief
      Financial Officer</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">3</font></p>
<hr> <br clear="all" style="page-break-before:always;"><p align="center"><font face="Times New Roman, Times, serif" size="2"><b>INDEX
  TO EXHIBITS</b></font></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Exhibit #</u></b></font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td width="88%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Description</u></b></font></div>
    </td>
  </tr>
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td width="88%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
  </tr>
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">99</font></div>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
    </td>
    <td width="88%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">
        Press release of NVE Corporation dated October 17, 2007 reporting results
        for the quarter and six months ended September 30, 2007</font></div>
    </td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><br>
  4</font></p>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>q2-08pr.htm
<DESCRIPTION>PRESS RELEASE REPORTING RESULTS FOR THE QUARTER ENDED 9/30/07
<TEXT>

<p>&nbsp;
<table width="100%" border="0" cellspacing="00" cellpadding="0">
  <tr>
    <td valign="top"><img src="sml-logo.gif"></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><b><font size="3">PRESS
      RELEASE</font></b></font><br>
      <font face="Arial, Helvetica, sans-serif" size="2">For immediate release</font></td>
  </tr>
</table>
<p align="center"><b>NVE Corporation Reports Second Quarter Results</b>
<p>
<p>EDEN PRAIRIE, Minn.&#151;October 17, 2007&#151;NVE Corporation (Nasdaq: NVEC)
  announced today financial results for the quarter and six months ended September
  30, 2007.
<p>Product sales for the quarter increased 14% over the prior-year quarter to
  $4.31 million from $3.78 million. Total revenue, consisting of product sales
  and contract research and development revenue, increased 14% to $5.00 million
  for the second quarter of fiscal 2008 from $4.40 million in the prior-year quarter.
  Net income for the second quarter of fiscal 2008 increased 28% to $1.64 million,
  or $0.34 per diluted share, compared to $1.28 million, or $0.27 per share, for
  the prior-year quarter.</p>
<p>For the first six months of fiscal 2008, product sales increased 26% to $8.58
  million from $6.83 million for the first six months of fiscal 2007. Total revenue
  increased 21% to $9.71 million for the first half of fiscal 2008 from $8.03
  million for the prior-year period. Net income for the first half of fiscal 2008
  was $3.23 million, or $0.67 per diluted share compared to $2.18 million, or
  $0.45 per diluted share, for the first half of fiscal 2007.</p>
<p>&quot;We are pleased with our results for the quarter,&quot; said NVE President
  and Chief Executive Officer Daniel A. Baker, Ph.D. &quot;Record revenues drove
  strong earnings. We also renewed agreements with two important customers, St.
  Jude Medical and Avago Technologies.&quot;</p>
<p>NVE is a leader in the practical commercialization of spintronics, a nanotechnology
  that many experts believe represents the next generation of microelectronics.
  NVE licenses its MRAM intellectual property and sells spintronic sensors and
  couplers to revolutionize data sensing and transmission.</p>
<p><b>Statements used in this press release that relate to future plans, events, financial results or performance are forward-looking statements that are subject to certain risks and uncertainties including, among others, such factors as risks in continued growth in revenue and profitability, risks associated with our reliance on several large customers, uncertainties related to the renewal of agreements with large customers, as well as the risk factors listed from time to time in our filings with the SEC, including our Annual Report on Form 10-K and other reports filed with the SEC.</b><br>
</p>
<p align="center">###</p>
<p>
<hr>
<br clear="all" style="page-break-before:always;">
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                            NVE CORPORATION
                          STATEMENTS OF INCOME
 QUARTERS AND SIX MONTHS 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
Supplemental financial data
  Stock-based compensation                  $   151,118    $   117,467
  Cash paid for income taxes                $ 1,405,000    $      -
  <b>
                                             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
Supplemental financial data
  Stock-based compensation                  $   158,410    $   120,036
  Cash paid for income taxes                $ 1,484,313    $    44,300</pre>
    </td>
  </tr>
</table>
<br>
<hr><br clear="all" style="page-break-before:always;">
<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>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>nve-logo.gif
<DESCRIPTION>NVE CORPORATION LOGO
<TEXT>
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