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<SEC-DOCUMENT>0000724910-08-000015.txt : 20081022
<SEC-HEADER>0000724910-08-000015.hdr.sgml : 20081022
<ACCEPTANCE-DATETIME>20081022160741
ACCESSION NUMBER:		0000724910-08-000015
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20081022
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20081022
DATE AS OF CHANGE:		20081022

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NVE CORP /NEW/
		CENTRAL INDEX KEY:			0000724910
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				411424202
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		081135358

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

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREMIS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>q2-09cvr.htm
<DESCRIPTION>CURRENT REPORT ON FORM 8-K
<TEXT>
<p align="center"><font face="Times New Roman, Times, serif" size="5"><b>UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</b></font><b><font face="Times New Roman, Times, serif" size="2"><br>
  Washington, D.C.&nbsp;&nbsp;20549</font></b></p>
<p align="center"><b><font face="Times New Roman, Times, serif" size="2"> <font size="5">FORM
  8-K</font></font></b></p>
<p align="center"><b><font face="Times New Roman, Times, serif" size="3">CURRENT REPORT<br>
  </font></b><font face="Times New Roman, Times, serif" size="3"><b>Pursuant to
  Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font></p>
<p><font face="Times New Roman, Times, serif" size="2"><br>
  Date of Report (Date of earliest event reported)&nbsp;&nbsp;<b><u>October 22,
  2008</u></b><br>
  </font></p>
<div align="center"><b><font size="6" face="Arial, Helvetica, sans-serif"><img src="nve-logo.gif" width="276" height="55"><br>
  NVE Corporation</font></b><font face="Times New Roman, Times, serif" size="2"><br>
  (Exact name of registrant as specified in its charter)</font></div>
<font face="Times New Roman, Times, serif" size="2">
<div align="center">
  <p>&nbsp;</p>
</div>
</font>
<div align="center"></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="33%">
      <p align="center"><font face="Times New Roman, Times, serif"><b><font size="2" ><u>Minnesota</u></font></b></font></p>
    </td>
    <td width="33%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>000-12196</u>
        </b> </font></div>
    </td>
    <td>
      <p align="center"><b><font size="2" face="Times New Roman"><u>41-1424202</u></font></b></p>
    </td>
  </tr>
  <tr>
    <td>
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(State
        or other jurisdiction of incorporation)</font></p>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">(Commission File Number) </font></div>
    </td>
    <td>
      <div align="center"><font size="2" face="Times New Roman, Times, serif">(IRS Employer Identification No.)</font></div>
    </td>
  </tr>
</table>
<br>
<br>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td rowspan="2" width="25%"></td>
    <td width="50%">
      <p align="center"><font size="2"><b><u>11409 Valley View Road, Eden Prairie,
        Minnesota</u></b></font></p>
    </td>
    <td>
      <p align="center"><font size="2"><b><font face="Times New Roman" ><u>55344</u></font></b></font></p>
    </td>
  </tr>
  <tr>
    <td width="50%">
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(Address
        of principal executive offices)</font></p>
    </td>
    <td>
      <p align="center"><font size="2">(Zip Code)</font></p>
    </td>
  </tr>
</table>
<br>
<font size="2" face="Times New Roman, Times, serif"> Registrant&#146;s telephone
number, including area code <b><u>(952) 829-9217</u></b><br>
</font>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
  </font><font face="Times New Roman, Times, serif" size="2">(Former name or former
  address, if changed since last report.)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions (see General
  Instruction A.2. below):<br>
  <br>
  [&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities
  Act (17 CFR 230.425)<br>
  <br>
  [&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange
  Act (17 CFR 240.14a-12)<br>
  <br>
  [&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under
  the Exchange Act (17 CFR 240.14d-2(b))<br>
  <br>
  [&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under
  the Exchange Act (17 CFR 240.13e-4(c))<br><br>
</font>
<hr><br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><b>Item 2.02. Results of
  Operations and Financial Condition</b><br><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furnished as Exhibit 99 is a press release of NVE
Corporation reporting results for the quarter ended September 30, 2008.</font>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">2</font>
<hr> <br clear="all" style="page-break-before:always;">
<font face="Times New Roman, Times, serif" size="2"><div align="center"><b>SIGNATURE</b><br><br></div>&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 hereunto
  duly authorized.</font>
<p>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="25%" valign="top">
      <p><font face="Times New Roman, Times, serif" size="2">Date&nbsp;&nbsp;<b><u>October 22, 2008</u></b></font>
    </td>
    <td valign="top">
      <p><font face="Times New Roman, Times, serif" size="2">&nbsp;<b><u>NVE CORPORATION<br>
        </u></b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)<br>
        <br>
        <u>/s/ CURT A. REYNDERS</u><br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Curt A. Reynders<br>
        &nbsp;&nbsp;Chief Financial Officer</font>
    </td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">3</font>
<hr> <br clear="all" style="page-break-before:always;">
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b>INDEX
  TO EXHIBITS</b><br>
  <br>
  </font> </div>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Exhibit
        #</u></b></font></div>
    </td>
    <td> </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 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">99</font></div>
    </td>
    <td></td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">
        Press release of NVE Corporation dated October&nbsp;22, 2008 reporting results
        for the quarter ended September&nbsp;30, 2008</font></div>
    </td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><br>
  4</font>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>q2-09pr.htm
<DESCRIPTION>PRESS RELEASE FOR THE QUARTER ENDED 9/30/08
<TEXT>
<p><hr color="#225EAC" noshade size="1">
<table width="100%" border="0" cellspacing="00" cellpadding="0">
  <tr>
    <td valign="middle"><img src="sml-logo.gif"></td>
    <td align="right"><font face="Arial, Helvetica, sans-serif"><b><font size="3">PRESS
      RELEASE</font></b></font><br>
      <font face="Arial, Helvetica, sans-serif" size="2">For immediate release</font></td>
  </tr>
</table>
<hr color="#225EAC" noshade size="1">
<p align="center"><font face="Arial, Helvetica, sans-serif"><b>NVE Corporation
  Reports Second Quarter Results</b></font>
<p>EDEN PRAIRIE, Minn.&#151;October 22, 2008&#151;NVE Corporation (Nasdaq: NVEC)
  announced today financial results for the quarter and six months ended September&nbsp;30,
  2008.
<p>Total revenue for the second quarter of fiscal 2009 increased 14% to $5.73
  million from $5.00 million in the prior-year quarter. The revenue increase was
  due to a 13% increase in product sales and a 24% increase in contract research
  and development revenue. Net income for the second quarter of fiscal 2009 increased
  40% to $2.30 million, or $0.48 per diluted share, compared to $1.64 million,
  or $0.34 per diluted share, for the prior-year quarter.
<p>For the first six months of fiscal 2009, total revenue increased 9% to $10.6
  million from $9.71 million for the first six months of fiscal 2008. The revenue
  increase was primarily due to a 10% increase in product sales to $9.42 million
  for the first half of fiscal 2009 from $8.58 million for the prior-year period.
  Net income for the first half of fiscal 2009 was $4.20 million, or $0.88 per
  diluted share compared to $3.23 million, or $0.67 per diluted share, for the
  first half of fiscal 2008.</p>
<p>&quot;We are pleased with our strong quarterly results,&quot; said NVE President
  and Chief Executive Officer Daniel A. Baker, Ph.D. &quot;Increases in product
  sales and contract research and development revenue drove record earnings.&quot;</p>
<p>NVE is a leader in the practical commercialization of spintronics, a nanotechnology
  that relies on electron spin rather than electron charge to acquire, store and
  transmit information. The company manufactures high-performance spintronic products
  including sensors and couplers that are used to acquire and transmit data. NVE
  has also licensed its spintronic magnetoresistive random access memory technology,
  commonly known as MRAM.</p>
<p><i>Statements used in this press release that relate to future plans, events,
  financial results or performance are forward-looking statements that are subject
  to certain risks and uncertainties including, among others, such factors as
  risks in continued growth in revenue and profitability, risks associated with
  our reliance on several large customers, as well as the risk factors listed
  from time to time in our filings with the SEC, including our Annual Report on
  Form 10-K and other reports filed with the SEC.</i></p>
<p>
<p align=center>###
<p>
<p>
<hr>
<br clear="all" style="page-break-before:always;">
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>
    <td>
      <pre><b>                           NVE CORPORATION
                        STATEMENTS OF INCOME
 QUARTERS AND SIX MONTHS ENDED SEPTEMBER 30, 2008 AND 2007 (Unaudited)

</b>                                                    Quarter Ended
                                                    September 30
                                                 2008          2007
                                              -----------  -----------
 Revenue
  Product sales                               $ 4,871,381  $ 4,311,862
  Contract research and development               856,409      692,758
                                              -----------  -----------
 Total revenue                                  5,727,790    5,004,620
 Cost of sales                                  1,747,618    1,850,960
                                              -----------  -----------
 Gross profit                                   3,980,172    3,153,660
 Expenses
  Selling, general, and administrative            585,373      575,422
  Research and development                        280,863      314,037
                                              -----------  -----------
 Total expenses                                   866,236      889,459
                                              -----------  -----------
 Income from operations                         3,113,936    2,264,201
 Interest income                                  277,074      246,857
                                              -----------  -----------
 Income before taxes                            3,391,010    2,511,058
 Provision for income taxes                     1,090,629      866,284
                                              -----------  -----------
 Net income                                   $ 2,300,381  $ 1,644,774
                                              ===========  ===========
 Net income per share - basic                 $      0.49  $      0.35
                                              ===========  ===========
 Net income per share - diluted               $      0.48  $      0.34
                                              ===========  ===========
 Weighted average shares outstanding
  Basic                                         4,661,396    4,634,442
  Diluted                                       4,788,614    4,794,855
 Supplemental financial data
  Stock-based compensation                    $    69,878  $   151,118
  Cash paid for income taxes                  $ 1,631,000  $ 1,405,000

                                                  Six Months Ended
                                                    September 30
                                                 2008          2007
                                              -----------  -----------
 Revenue
  Product sales                               $ 9,418,703  $ 8,580,962
  Contract research and development             1,172,873    1,132,941
                                              -----------  -----------
 Total revenue                                 10,591,576    9,713,903
 Cost of sales                                  3,155,050    3,293,928
                                              -----------  -----------
 Gross profit                                   7,436,526    6,419,975
 Expenses
  Selling, general, and administrative          1,114,857    1,139,165
  Research and development                        666,895      821,674
                                              -----------  -----------
 Total expenses                                 1,781,752    1,960,839
                                              -----------  -----------
 Income from operations                         5,654,774    4,459,136
 Interest income                                  531,509      471,378
 Other income                                       3,400           --
                                              -----------  -----------
 Income before taxes                            6,189,683    4,930,514
 Provision for income taxes                     1,986,686    1,698,405
                                              -----------  -----------
 Net income                                   $ 4,202,997  $ 3,232,109
                                              ===========  ===========
 Net income per share - basic                 $      0.90  $      0.70
                                              ===========  ===========
 Net income per share - diluted               $      0.88  $      0.67
                                              ===========  ===========
 Weighted average shares outstanding
  Basic                                         4,652,448    4,632,506
  Diluted                                       4,779,606    4,792,882
 Supplemental financial data
  Stock-based compensation                    $    75,476  $   158,410
  Cash paid for income taxes                  $ 1,631,000  $ 1,484,313
</pre>
    </td>
  </tr>
</table>
<hr><br clear="all" style="page-break-before:always;">
<table border="0" cellspacing="0" cellpadding="0" align="center" >
  <tr>
    <td>
      <pre><b>                            NVE CORPORATION
                            BALANCE SHEETS
                     SEPTEMBER 30 AND MARCH 31, 2008<br>
</b>                                              (Unaudited)
                                               Sept. 30,    March 31,
                                                 2008          2008
                                              -----------  -----------
 ASSETS
 Current assets
  Cash and cash equivalents                   $ 1,719,313  $ 1,885,867
  Marketable securities, short term             1,285,392      795,728
  Accounts receivable, net of allowance for
   uncollectible accounts of $15,000            2,868,179    3,226,027
  Inventories                                   2,443,199    2,456,804
  Deferred tax assets                             732,115      453,405
  Prepaid expenses and other assets               513,331      529,616
                                              -----------  -----------
 Total current assets                           9,561,529    9,347,447
 Fixed assets
  Machinery and equipment                       5,278,895    5,205,288
  Leasehold improvements                          436,794      436,794
                                              -----------  -----------
                                                5,715,689    5,642,082
  Less accumulated depreciation                 4,457,873    4,276,680
                                              -----------  -----------
 Net fixed assets                               1,257,816    1,365,402
 Marketable securities, long term              26,036,482   22,055,279
                                              -----------  -----------
 Total assets                                 $36,855,827  $32,768,128
                                              ===========  ===========

 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities
  Accounts payable                            $   338,377  $   434,808
  Accrued payroll and other                       558,133      632,338
  Deferred revenue                                145,833      187,500
                                              -----------  -----------
 Total current liabilities                      1,042,343    1,254,646

 Shareholders' equity
  Common stock                                     46,653       46,387
  Additional paid-in capital                   19,095,189   18,539,538
  Accumulated other comprehensive (loss)
   income                                        (355,754)     103,158
  Retained earnings                            17,027,396   12,824,399
                                              -----------  -----------
 Total shareholders' equity                    35,813,484   31,513,482
                                              -----------  -----------
 Total liabilities and shareholders' equity   $36,855,827  $32,768,128
                                              ===========  ===========</pre>
    </td>
  </tr>
</table>
<hr>
</TEXT>
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<FILENAME>nve-logo.gif
<DESCRIPTION>NVE CORPORATION LOGO
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<DESCRIPTION>NVE CORPORATION LOGO
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
