-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BdW7juwUlbCuUVLUHbAyrYW9m/JxLC3JYQNqVggdO8hvxS2IP9mO/xLmTo8mOmbx
 K9k9JA32uOoi+4RPWiXx6w==

<SEC-DOCUMENT>0000724910-08-000002.txt : 20080123
<SEC-HEADER>0000724910-08-000002.hdr.sgml : 20080123
<ACCEPTANCE-DATETIME>20080123161951
ACCESSION NUMBER:		0000724910-08-000002
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20071231
FILED AS OF DATE:		20080123
DATE AS OF CHANGE:		20080123

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:		08544790

	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>q3q08.htm
<DESCRIPTION>QUARTERLY REPORT FOR THE PERIOD ENDED DECEMBER 31, 2007
<TEXT>
<html>
<font face="Times New Roman, Times, serif" size="2">&nbsp;</font>
<div 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></div>
<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 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>December 31, 2007</u></b></font></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><br>
  <font size="2" face="Times New Roman, Times, serif">(Exact name of registrant
  as specified in its charter)</font></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;<b><u>(952)
        829-9217</u></b>&nbsp;</font></div>
    </td>
  </tr>
  <tr>
    <td colspan="3">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;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 - 4,638,683 shares outstanding as of January
  18, 2008</b></font></p>
<hr>
<br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2">&nbsp;<a href="#TOC"></a><a name="TOC"></a></font>
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b>NVE CORPORATION<br>
  QUARTERLY REPORT ON FORM 10-Q<br>
  TABLE OF CONTENTS</b><br>
  <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 December 31, 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 Nine Months Ended December 31, 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="#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;">
<font face="Times New Roman, Times, serif" size="2"><a href="#TOC"><b>Table of
Contents</b></a><a name="Part1"></a></font>
<div align="center"><b><font face="Times New Roman, Times, serif" size="2">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
                        DECEMBER 31 AND MARCH 31, 2007

                                                (Unaudited)
                                               Dec. 31, 2007    March 31, 2007*
                                               --------------   --------------
</b>ASSETS
Current assets
  Cash and cash equivalents                    $   1,251,701    $     397,423
  Marketable securities, short term                1,693,149          982,415
  Accounts receivable, net of allowance for
    uncollectible accounts of $15,000              2,182,762        2,005,005
  Inventories                                      2,493,812        2,016,858
  Deferred tax assets                                473,289        1,328,106
  Prepaid expenses and other assets                  839,037          333,587
                                               --------------   --------------
Total current assets                               8,933,750        7,063,394
Fixed assets
  Machinery and equipment                          5,061,407        4,458,948
  Leasehold improvements                             436,794          413,482
                                               --------------   --------------
                                                   5,498,201        4,872,430
  Less accumulated depreciation                    4,173,394        3,834,683
                                               --------------   --------------
Net fixed assets                                   1,324,807        1,037,747
Marketable securities, long term                  20,109,098       16,909,353
                                               --------------   --------------
Total assets                                   $  30,367,655    $  25,010,494
                                               ==============   ==============
LIABILITIES AND SHAREHOLDERS&#146; EQUITY
Current liabilities
  Accounts payable                             $     435,175    $     502,595
  Accrued payroll and other                          550,276          590,287
  Deferred revenue                                   237,101           29,357
                                               --------------   --------------
Total current liabilities                          1,222,552        1,122,239
Shareholders&#146; equity
  Common stock                                        46,387           46,274
  Additional paid-in capital                      18,533,940       18,289,248
  Accumulated other comprehensive loss                (6,641)         (84,282)
  Retained earnings                               10,571,417        5,637,015
                                               --------------   --------------
Total shareholders&#146; equity                        29,145,103       23,888,255
                                               --------------   --------------
Total liabilities and shareholders&#146; equity     $  30,367,655    $  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 fiscal 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;"><font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of Contents</a></b></font>
<a name="QIncome"></a>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                            NVE CORPORATION
                          STATEMENTS OF INCOME
               QUARTERS ENDED DECEMBER 31, 2007 AND 2006
                              (Unaudited)

                                            Quarter Ended December 31
                                                2007           2006
                                            ------------   ------------</b>
Revenue
  Product sales                             $ 4,249,809    $ 3,402,937
  Contract research and development             515,716        459,112
                                            ------------   ------------
Total revenue                                 4,765,525      3,862,049
Cost of sales                                 1,663,045      1,385,163
                                            ------------   ------------
Gross profit                                  3,102,480      2,476,886
Expenses
  Selling, general,and administrative           492,771        479,387
  Research and development                      347,344        544,779
                                            ------------   ------------
Total expenses                                  840,115      1,024,166
                                            ------------   ------------
Income from operations                        2,262,365      1,452,720
Interest income                                 259,865        157,337
Other income                                     62,930           -
                                            ------------   ------------
Income before taxes                           2,585,160      1,610,057
Provision for income taxes                      882,867        558,504
                                            ------------   ------------
Net income                                  $ 1,702,293    $ 1,051,553
                                            ============   ============
Net income per share - basic                $      0.37    $      0.23
                                            ============   ============
Net income per share - diluted              $      0.36    $      0.22
                                            ============   ============
Weighted average shares outstanding
  Basic                                       4,637,275      4,620,835
  Diluted                                     4,764,430      4,786,868
</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;"><font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of Contents</a></b></font>
<a name="YTDIncome"></a>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                            NVE CORPORATION
                          STATEMENTS OF INCOME
              NINE MONTHS ENDED DECEMBER 31, 2007 AND 2006
                              (Unaudited)

                                             Nine Months Ended Dec. 31
                                                2007           2006
                                            ------------   ------------</b>
Revenue
  Product sales                             $12,830,771    $10,233,325
  Contract research and development           1,648,657      1,662,287
                                            ------------   ------------
Total revenue                                14,479,428     11,895,612
Cost of sales                                 4,956,973      4,224,165
                                            ------------   ------------
Gross profit                                  9,522,455      7,671,447
Expenses
  Selling, general, and administrative        1,631,936      1,421,332
  Research and development                    1,169,018      1,641,637
                                            ------------   ------------
Total expenses                                2,800,954      3,062,969
                                            ------------   ------------
Income from operations                        6,721,501      4,608,478
Interest income                                 731,243        418,683
Interest expense                                   -              (589)
Other income                                     62,930         25,246
                                            ------------   ------------
Income before taxes                           7,515,674      5,051,818
Provision for income taxes                    2,581,272      1,824,988
                                            ------------   ------------
Net income                                  $ 4,934,402    $ 3,226,830
                                            ============   ============
Net income per share - basic                $      1.06    $      0.70
                                            ============   ============
Net income per share - diluted              $      1.04    $      0.67
                                            ============   ============
Weighted average shares outstanding
  Basic                                       4,634,102      4,618,086
  Diluted                                     4,761,112      4,784,118</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;"><font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of Contents</a></b></font>
<a name="CashFlows"></a>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                NVE CORPORATION
                            STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED DECEMBER 31, 2007 AND 2006
                                  (Unaudited)

                                                     Nine Months Ended Dec. 31
                                                        2007           2006
                                                    ------------   ------------
</b>OPERATING ACTIVITIES
Net income                                          $ 4,934,402    $ 3,226,830
Adjustments to reconcile net income to net
  cash provided by operating activities:
    Depreciation and amortization                       387,453        392,777
    Stock-based compensation                            164,008        128,203
    Excess tax benefits                                 (33,773)    (1,591,076)
    Gain on sale of fixed assets                         (1,500)          -
    Gain on marketable securities, net                  (61,430)          -
    Deferred income taxes                               848,999      1,780,688
    Changes in operating assets and liabilities:
      Accounts receivable                              (177,757)      (240,608)
      Inventories                                      (476,954)       (39,356)
      Prepaid expenses and other assets                (505,450)       (44,306)
      Accounts payable and accrued expenses            (107,431)       156,410
      Deferred revenue                                  207,744        (77,373)
                                                    ------------   ------------
Net cash provided by operating activities             5,178,311      3,692,189

INVESTING ACTIVITIES
Purchases of fixed assets                              (642,170)      (252,604)
Proceeds from sale of fixed assets                        1,500           -
Purchases of marketable securities                  (11,153,044)    (6,943,625)
Proceeds from maturities and sales of
  marketable securities                               7,388,884      1,054,686
                                                    ------------   ------------
Net cash used in investing activities                (4,404,830)    (6,141,543)

FINANCING ACTIVITIES
Net proceeds from sale of common stock                   47,024         26,479
Excess tax benefits                                      33,773      1,591,076
Repayment of capital lease obligations                     -           (33,281)
                                                    ------------   ------------
Net cash provided by financing activities                80,797      1,584,274
                                                    ------------   ------------

Increase (decrease) in cash and cash equivalents        854,278       (865,080)
Cash and cash equivalents at beginning of period        397,423      1,288,362
                                                    ------------   ------------
Cash and cash equivalents at end of period          $ 1,251,701    $   423,282
                                                    ============   ============

Supplemental disclosures of cash flow information:
    Cash paid during the period for:
      Interest                                      $      -       $       589
      Income taxes                                  $ 2,209,313    $    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;"><font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of Contents</a></b></font>
<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><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 December 31, 2007 are
  not necessarily indicative of the results that may be expected for the full
  fiscal year ending March 31, 2008.</font>
<p><font face="Times New Roman, Times, serif" size="2"><br>
  </font>
<p>
<b><font face="Times New Roman, Times, serif" size="2">NOTE 3. NET INCOME PER
SHARE</font></b>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
  calculate our net income per share in accordance with Financial Accounting Standards
  Board (FASB) Statement of Financial Accounting Standards (SFAS) No. 128, <i>Earnings
  per Share</i>. Basic earnings per share are computed based on the weighted-average
  number of common shares issued and outstanding during each period. Diluted net
  income per share amounts assume conversion, exercise or issuance of all potential
  common stock instruments (stock options and warrants). The following table reflects
  the components of common shares outstanding in accordance with SFAS No. 128:</font><br>
  <br>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                                         Quarter Ended December 31
                                                            2007           2006
                                                        ------------   ------------</b>
Weighted average common shares outstanding - basic        4,637,275      4,620,835
Effect of dilutive securities:
    Stock options                                           122,734        160,896
    Warrants                                                  4,421          5,137
                                                        ------------   ------------
Shares used in computing net income per share - diluted   4,764,430      4,786,868
                                                        ============   ============</pre>
    </td>
  </tr>
</table>
<br>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                                         Nine Months Ended Dec. 31
                                                            2007           2006
                                                        ------------   ------------</b>
Weighted average common shares outstanding - basic        4,634,102      4,618,086
Effect of dilutive securities:
    Stock options                                           122,589        160,896
    Warrants                                                  4,421          5,136
                                                        ------------   ------------
Shares used in computing net income per share - diluted   4,761,112      4,784,118
                                                        ============   ============</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><a href="#TOC">Table of
Contents</a></b></font>
<p><font face="Times New Roman, Times, serif" size="2"><b>NOTE 4. 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 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><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;
  Proceeds from maturities and sales of marketable securities were $7,388,884
  in the quarter and nine months ended December 31, 2007. Gross gains were $65,931
  and gross losses were $4,501 for those maturities and sales. We use a specific-identification
  cost basis to determine realized gains and losses. We reinvested the proceeds
  from the maturities and sales of marketable securities into marketable securities
  exempt from federal income tax as part of a strategy to reduce our taxes since
  we began paying higher cash income taxes in fiscal 2008.</font>
<p><br><font face="Times New Roman, Times, serif" size="2"><b>NOTE 5. 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 December 31
                                                       2007           2006
                                                   ------------   ------------</b>
Net income                                         $ 1,702,293    $ 1,051,553
Unrealized gain (loss) from marketable securities       36,317        (13,265)
                                                   ------------   ------------
Comprehensive income                               $ 1,738,610    $ 1,038,288
                                                   ============   ============
</pre>
    </td>
  </tr>
</table>
<br>
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                                                    Nine Months Ended Dec. 31
                                                       2007             2006
                                                   ------------   ------------</b>
Net income                                         $ 4,934,402    $ 3,226,830
Unrealized gain from marketable securities              77,641         37,114
                                                   ------------   ------------
Comprehensive income                               $ 5,012,043    $ 3,263,944
                                                   ============   ============
</pre>
    </td>
  </tr>
</table>
<p><font face="Times New Roman, Times, serif" size="2"><b>NOTE 6. 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>                             December 31        March 31
                                 2007             2007
                             ------------     ------------</b>
Raw materials                $   670,358      $   862,440
Work-in-process                1,192,568          811,261
Finished goods                   900,886          583,157
                             ------------     ------------
                               2,763,812        2,256,858
Less obsolescence reserve       (270,000)        (240,000)
                             ------------     ------------
                             $ 2,493,812      $ 2,016,858
                             ============     ============
</pre>
    </td>
  </tr>
</table>
<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;">
<font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of
Contents</a></b></font>
<p><b><font face="Times New Roman, Times, serif" size="2">NOTE 7. STOCK-BASED
  COMPENSATION</font></b>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based
  compensation recognized under SFAS No. 123 (revised 2004), <i>Share-Based Payment</i>,
  was $5,598 for the third quarter of fiscal 2008; $8,167 for the third quarter
  of fiscal 2007; $164,008 for the first nine months of fiscal 2008; and $128,203
  for the first nine 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 8. 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. Tax provisions of $33,773 for the
  nine months ended December 31, 2007 and $1,821,656 for the nine months ended
  December 31, 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 December&nbsp;31,
  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 provision
  for income taxes. 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>
<p><br>
  <font face="Times New Roman, Times, serif" size="2"><b>NOTE 9. 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>
  <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><a href="#TOC">Table of Contents</a></b></font><p>
<p>
  <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 Operations.</b></font>
<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 or in the documents incorporated by reference 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 our subsequently-filed
  Quarterly Reports on Form 10-Q.</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>
  10</font><br>
</div>
<hr><br clear="all" style="page-break-before:always;"><font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of Contents</a></b></font><p>
<font face="Times New Roman, Times, serif" size="2"><b>Quarter ended December 31, 2007 compared to quarter ended December 31, 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 Dec. 31            to-Quarter
                                      2007              2006             Change
                                    --------          --------          ---------</b>
Revenue
  Product sales                       89.2 %            88.1 %             24.9 %
  Contract research and development   10.8 %            11.9 %             12.3 %
                                    --------          --------
Total revenue                        100.0 %           100.0 %             23.4 %
Cost of sales                         34.9 %            35.9 %             20.1 %
                                    --------          --------
Gross profit                          65.1 %            64.1 %             25.3 %
Total expenses                        17.6 %            26.5 %            (18.0)%
                                    --------          --------
Income from operations                47.5 %            37.6 %             55.7 %
Net interest and other income          6.7 %             4.1 %            105.2 %
                                    --------          --------
Income before taxes                   54.2 %            41.7 %             60.6 %
Provision for income taxes            18.5 %            14.5 %             58.1 %
                                    --------          --------
Net income                            35.7 %            27.2 %             61.9 %
                                    ========          ========
</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 December 31, 2007 (the third quarter of fiscal 2008)
increased 23% to $4,765,525 compared to $3,862,049 for the quarter ended December
31, 2006 (the third quarter of fiscal 2007). The increase was due to a 25% 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 increased to 65% of revenue for the third quarter of fiscal 2008
  compared to 64% for the third quarter 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;Total
  expenses decreased 18% for the third quarter of fiscal 2008 due to a 36% decrease
  in research and development expense, partially offset by a 3% increase in selling,
  general, and administrative expense. The decrease in research and development
  expense 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;Net
  interest and other income increased 105% to $322,795 for the third quarter of
  fiscal 2008 compared to $157,337 for the third quarter of fiscal 2007. The increase
  was primarily due to an increase in interest-bearing marketable securities and
  an increase in other income. Other income for the third quarter of fiscal 2008
  consisted <font face="Times New Roman, Times, serif" size="2">primarily</font>
  of a <font face="Times New Roman, Times, serif" size="2">$61,430</font> net
  gain on maturities and sales of federally-taxable marketable securities. The
  proceeds of such sales were reinvested in federally tax-exempt securities as
  part of a strategy to reduce taxes since we began paying higher cash income
  taxes in fiscal 2008.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  provision for income taxes was $882,867 or 34.2% of income before taxes for
  the third quarter of fiscal 2008 compared to $558,504 or 34.7% of income before
  taxes for the third quarter of fiscal 2007. The decrease in the effective tax
  rate was principally due to the investment of some of our long-term marketable
  securities in federally tax-exempt securities as part of a strategy to reduce
  taxes since we began paying more cash income taxes in fiscal 2008. </font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  62% increase in net income in the third quarter of fiscal 2008 compared to the
  third quarter of fiscal 2007 was primarily due to increases in product sales
  and interest income, and a decrease in research and development expense.</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><a href="#TOC">Table of
Contents</a></b></font><p><font face="Times New Roman, Times, serif" size="2"><b>
Nine months ended December 31, 2007 compared to nine months ended December 31,
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-
                                    Nine Months Ended Dec. 31           to-Period
                                      2007              2006             Change
                                    --------          --------          ---------</b>
Revenue
  Product sales                       88.6 %            86.0 %             25.4 %
  Contract research and development   11.4 %            14.0 %             (0.8)%
                                    --------          --------
Total revenue                        100.0 %           100.0 %             21.7 %
Cost of sales                         34.2 %            35.5 %             17.3 %
                                    --------          --------
Gross profit                          65.8 %            64.5 %             24.1 %
Total expenses                        19.4 %            25.8 %             (8.6)%
                                    --------          --------
Income from operations                46.4 %            38.7 %             45.9 %
Net interest and other income          5.5 %             3.7 %             79.1 %
                                    --------          --------
Income before taxes                   51.9 %            42.4 %             48.8 %
Provision for income taxes            17.8 %            15.3 %             41.4 %
                                    --------          --------
Net income                            34.1 %            27.1 %             52.9 %
                                    ========          ========
</pre>
    </td>
  </tr>
</table>
<br>
<font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
revenue for the nine months ended December 31, 2007 increased 22% to $14,479,428
compared to $11,895,612 for the nine months ended December 31, 2006. The increase
was due to a 25% increase in product sales.</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 nine months of fiscal
  2008 compared to 64% for the first nine 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;Total
  expenses decreased 9% for the first nine months of fiscal 2008 due to a 29%
  decrease in research and development expense, partially offset by a 15% increase
  in selling, general, and administrative expense. The decrease in research and
  development expense was due to the completion of certain research and development
  projects. The increase in selling, general, and administrative expense was primarily
  due to increased expenses relating to commissions on product sales and incentive
  compensation, and a $35,805<b> </b>increase in the effect of SFAS No. 123(R).
  The increase in the effect of SFAS No. 123(R) was primarily due to a higher
  market stock price at the date of automatic grant of stock options to our non-employee
  directors on their reelection to our Board compared to the market stock price
  at the prior-year date of grant.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
  interest and other income increased 79% to $794,173 for the first nine months
  of fiscal 2008 compared to $443,340 for the first nine months of fiscal 2007.
  The increase was primarily due to an increase in interest income from a larger
  portfolio of marketable securities and an increase in other income primarily
  from a <font face="Times New Roman, Times, serif" size="2">$61,430</font> net
  gain on maturities and sales of federally-taxable marketable securities.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  53% increase in net income in the first nine months of fiscal 2008 compared
  to the first nine months of fiscal 2007 was due to increases in revenue, gross
  profit as a percentage of revenue, interest income, other income, and a decrease
  in total expenses.</font>
<p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">12</font><br>
<hr><br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of
Contents</a></b></font>
<p>
<font face="Times New Roman, Times, serif" size="2"><b>Seasonality</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Product sales for the third quarter of fiscal
  2008 were less than the immediately preceding quarter, which is the same pattern
  as each of the three previous fiscal years. This pattern may be due in part
  to distributor ordering patterns or customer vacations and shutdowns late in
  calendar years. We do not know if this pattern will continue.
</font>
<p><br>
  <font face="Times New Roman, Times, serif" size="2"><b>Contractual obligations</b></font>
<p><font face="Times New Roman, Times, serif" size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
  have been no material changes outside the ordinary course of business to the
  information in our contractual obligations table disclosed in our Annual Report
  of Form 10-K for the fiscal year ended March 31, 2007 except for the following.
  On December 17, 2007 we executed a third amendment to the lease agreement between
  us and Carlson Real Estate Company covering the building housing our principal
  executive offices and manufacturing facility. Our lease would have expired December
  31, 2008 without the third amendment. The third amendment extended the lease
  for an additional term of seven years, expiring December 31, 2015, with a onetime
  right to cancel the lease at our option on December 31, 2012 with the payment
  of a specified termination fee. The amendment provides for annual base rent
  of $138,853 in 2009, increasing 2.5% each subsequent year during the extended
  term.</font>
<p><br><font face="Times New Roman, Times, serif" size="2"><b>Liquidity and capital
  resources</b></font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
  December 31,&nbsp;2007 we had $23,053,948 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 nine months of fiscal 2008 was primarily due to $5,178,311 in net cash
  provided by operating activities partially offset by purchases of fixed assets
  of $642,170.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
  paid for income taxes increased $2,165,013 in the first nine months of fiscal
  2008 compared to the first nine months of fiscal 2007 as we began paying regular
  income taxes in fiscal 2008 because our carryover of stock-based compensation
  deductions and tax credits were fully utilized. We did not pay cash taxes, other
  than Alternative Minimum Taxes, for fiscal 2007 because of stock-based compensation
  deductions. </font>
<p><font face="Times New Roman, Times, serif" size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases
  of fixed assets increased to $642,170 for the first nine months of fiscal 2008
  from $252,604 for the first nine months of fiscal 2007. The purchases during
  both periods were primarily for capital equipment to increase our production
  capacity. We financed the purchases with cash provided by operating activities.</font>
<p><font face="Times New Roman, Times, serif" size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories
  increased $476,954 in the first nine months of fiscal 2008 primarily to support
  increased product sales.</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 align="center"><font face="Times New Roman, Times, serif" size="2">13<br></font>
<hr><br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table of
Contents</a></b></font><p>
<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><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 after-tax 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 agency
  obligations, municipal obligations, 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 December 31, 2007 had remaining maturities between two weeks
  and 58 months. Our short-term and long-term marketable securities had a fair
  market value of $21,802,247 at December 31, 2007, representing approximately
  72% of our total assets. We have not used derivative financial instruments in
  our investment portfolio.</font>
<p><br><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 the end of the period
  covered by this report, our disclosure controls and procedures were effective.</font>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
  the quarter ended December 31, 2007, there was no change in our internal control
  over financial reporting that materially affected, or is reasonably likely to
  materially affect, our internal control over financial reporting.</font>
<p><br>
<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;&nbsp;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
  subsequently-filed Quarterly Reports on Form 10-Q.</font>
<p align="center"><font size="2" face="Times New Roman, Times, serif">14</font><br>
<hr>
<br clear="all" style="page-break-before:always;">
  <font face="Times New Roman, Times, serif" size="2"><b><a href="#TOC">Table
  of Contents</a></b></font>
<a name="Exhibits"></a><p><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 colspan="3"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
  </tr>
  <tr>
    <td valign="top">
      <div align="center"><font size="2" face="Times New Roman, Times, serif">3</font></div>
    </td>
    <td></td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">Bylaws
      of the company as amended by the Board of Directors effective December 18,
      2007 (incorporated by reference to our Current Report on Form 8-K filed
      December 19, 2007).</font></td>
  </tr>
  <tr>
    <td colspan="3"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
  </tr>
  <tr>
    <td valign="top">
      <div align="center"><font size="2" face="Times New Roman, Times, serif">10</font></div>
    </td>
    <td></td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">Third
      amendment to lease between the company and Carlson Real Estate Company,
      Inc. dated December 17, 2007 (incorporated by reference to Exhibit 10.6
      of our Current Report on Form 8-K/A filed December 20, 2007).</font></td>
  </tr>
  <tr>
    <td colspan="3"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font>
    </td>
  </tr>
  <tr>
    <td>
      <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>
      <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 colspan="3"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font>
    </td>
  </tr>
  <tr>
    <td>
      <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 valign="top">
      <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 colspan="3"> <font face="Times New Roman, Times, serif" size="2">&nbsp;</font>
    </td>
  </tr>
  <tr>
    <td valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">32</font></div>
    </td>
    <td> </td>
    <td valign="top">
      <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>&nbsp;</p>
<p>&nbsp;</p>
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b><a name="Signatures"></a>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>January
        23, 2008</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"> 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>January
        23, 2008</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">Curt A. Reynders</font></td>
  </tr>
  <tr>
    <td> </td>
    <td><font size="2" face="Times New Roman, Times, serif">Chief Financial Officer</font></td>
  </tr>
</table>
<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-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:
    January 23, 2008</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>3
<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:
    January 23, 2008</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-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 December 31, 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:
    January 23, 2008</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>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>nve-logo.gif
<DESCRIPTION>NVE CORPORATION LOGO
<TEXT>
begin 644 nve-logo.gif
M1TE&.#EA%`$V`+,```!&K0DW>0<C3$!.8GAY>O___^+BXK2TM```````````
M`````````````````````"P`````%`$V```$_[#(20M!..M3NY>7I@E<-8CB
M\*UL@:*5(<QT;=]X?I?4\?[`H'!(+!I?O,\`P&PV`X36BN"L"@P=0J#J%$B_
MH"V7>:T<Q..T>MW%5K3LN'Q.K]NY999@G0=/EFE>'6=J?7X>,FH!*F]WCET>
M5(^3E)5W@BN$BE&'$GMIC#&?8P%)G11P@6X4@)9TH:RNLK.SL)%H@:>:7%`?
MH[R<IQ2):;T=O[3%P13(R<[/FRVMA:92J;S5$M-<ML+7>*L3Q-#8@[CDZ.2E
M+<UCRU_;;1^2H,+#[4SKYNE6X6'\`)\9ZC".CS]VA::<@V1/V\(FW4`$;(()
MU<2+LBIZV+7&V)>"5?_>]7A(YJ"?`_@`D%"",6(\C##K1+0X1R,+CDX\>DBI
M3]C+?#,+I`1PQ$BVHDB3*ETJ)%NLFDZSD.RY<XU(,"@+F2P`LDK0AF##BAU+
M]EB=JQY^JI2VYJN>:!]PYHQ:MJ[=NWBY#@7W):5;>F/<QB6I<JL%@WD3*U[<
M4&Y'M/?40);@F,RIKD\FJUW+N+/GSR8N2:FL$Q%/NK>TOI4,NK7KQ)L#H09<
MA:HO1:A%X;Y)V/;KW\"%[:W'0JW-M%8/?;/28KF\X-"C?ZG,9F`%OU]H>_6#
MF<QL/M+#BY=:C"?D[@`F3W!.T0][`(ND#!4\OOYGXP,('Z<\53W_A!^E9)W_
M;LK89R!T`J+GFT2J!+B;%/D5V`)U`QYHX6+HJ;#93,;Y8=YH"5JCWX4D?D9=
M%!2:A!T8F_FG5FDL%<*4")/-:..-./[P73$E?&@&8?ZMU]:$^AG&3$#G#1?3
MDK6I9YP;[W&&RE2Y34`A0A*V@!XM"_['Y)=Q=#F!@.*<UDB#8*!7H04C3D<8
M+6M&">:<^Y6I!BS:.6%+AX>8:1HU8.0I4'%S%DI<)OWU$*($&7;R(EI1TJ<-
MDJL9:BD3Z@D*GRD^%G!B)YJF]Z=L'@($HYV76GKJ4V,,%"4F[XDY#V$1Q1HD
MHTI:LB9UJ<*T4J5X$.3GDYU<26"K1OX(4)V']6HH_[.>`ID:<61VHJ8_$9)R
M*X.!Y%ACCN"&N]1LB0Z28*.G^$G9HBP.6>*[BKWHE'F?GO(HJ\!T,M2V\/;;
M)X`;Z:>IK%,DMR[`::KK[\)AH3LJ*>P>0ETH`E8YI6H,9]R8M`H5@K#$;4Y\
M2JC0:FSRK#RRL.6=#9U;L;WNGBPS/!BO$%L:_(;&8ZR27F?PS$"O4"UO=A!,
MJ&018]6;Q4%G[/`**_-ESZOE@EIDTUB/Q)J(=91,=#$U'[*9UUDS/'"54>L)
M5MI-VC-?V6432S,=.9ME!]G"_@QWT$./]N9<8=U<&]/*%B,N`H@<KOCB01#)
M<JERK!FH'3V3-]%Q@CN[;)!S56?WMV5AR6D%X3I/=%6NFJ>3Z8,)RU'Y8'/$
MU_)%,+*=NCKJ)0UAF'57%7FR*J/NBF^\WLZ/K&KJ\K?1?<FQJM(7'2>Z\>A`
M6Z^^U0$_=_9@A?J,2]0S^5?G[KV)=W.\!X[1Z>$OZ23KAVSY.J+<@R6\);7?
<W_[PN0-QO@E!Z%WBFM(PQNEH$`9,H`%1$P$`.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
