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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000724910-09-000003.txt : 20090506
<SEC-HEADER>0000724910-09-000003.hdr.sgml : 20090506
<ACCEPTANCE-DATETIME>20090506160533
ACCESSION NUMBER:		0000724910-09-000003
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20090506
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20090506
DATE AS OF CHANGE:		20090506

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:		09801552

	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>q4-09cvr.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>May 6, 2009</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>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furnished as Exhibit 99 is a press release of NVE Corporation reporting results for the quarter and year ended March 31, 2009.<br>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<div align="center">2</div></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>May 6, 2009</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 May 6, 2009 reporting results
        for the quarter and year ended March&nbsp;31, 2009</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>q4-09pr.htm
<DESCRIPTION>PRESS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2009
<TEXT>
<br><br><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 Fourth Quarter and Fiscal Year Results</b><br>
<i>Net Income Increases 36 Percent for Fiscal Year</i></font>
<p>EDEN PRAIRIE, Minn.&#151;May 6, 2009&#151;NVE Corporation (Nasdaq:NVEC) announced today financial results for the quarter and fiscal year ended March 31, 2009.<br>
<br>
Total revenue for the fourth quarter of fiscal 2009 increased 14% to $6.90 million from $6.05 million in the prior-year quarter. Product sales increased less than 1% and contract research and development revenue increased 220%. Net income for the fourth quarter of fiscal 2009 increased 38% to $3.11 million, or $0.65 per diluted share, compared to $2.25 million, or $0.47 per diluted share, for the prior-year quarter.<br>
<br>
For fiscal 2009, total revenue increased 14% to $23.4 million from $20.5 million for the prior year. The increase was due to a 7% increase in product sales and an 81% increase in contract research and development revenue. Net income for fiscal 2009 increased 36% to $9.78 million, or $2.04 per diluted share, compared to $7.19 million, or $1.51 per diluted share, for fiscal 2008.<br>
<br>
&#147;We are pleased to report record revenue and net income for both the fourth quarter and full fiscal year despite a challenging economy,&#148; said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.<br>
<br>
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.
<br>
<br>
<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 align=center>###
<br><br>
<hr>
<br clear="all" style="page-break-before:always;">
<table border="0" cellspacing="0" cellpadding="0" align="center">
  <tr>

<td>
<pre><b>                              NVE CORPORATION
                          STATEMENTS OF INCOME
       QUARTERS AND YEARS ENDED MARCH 31, 2009 AND 2008 (Unaudited)</b>

                                               Quarter Ended March 31
                                                2009           2008
                                           ------------   ------------
 Revenue
  Product sales                            $  5,699,660   $  5,674,879
  Contract research and development           1,196,920        374,505
                                           ------------   ------------
 Total revenue                                6,896,580      6,049,384
 Cost of sales                                1,806,102      1,876,335
                                           ------------   ------------
 Gross profit                                 5,090,478      4,173,049
 Expenses
  Selling, general, and administrative          554,055        526,882
  Research and development                      292,679        318,889
                                           ------------   ------------
 Total expenses                                 846,734        845,771
                                           ------------   ------------
 Income from operations                       4,243,744      3,327,278
 Interest income                                333,487        243,747
 Other income (loss)                                 --         (6,695)
                                           ------------   ------------
 Income before taxes                          4,577,231      3,564,330
 Provision for income taxes                   1,465,737      1,311,348
                                           ------------   ------------
 Net income                                $  3,111,494   $  2,252,982
                                           ============   ============
 Net income per share - basic              $       0.67   $       0.49
                                           ============   ============
 Net income per share - diluted            $       0.65   $       0.47
                                           ============   ============
 Weighted average shares outstanding
  Basic                                       4,667,822      4,638,683
  Diluted                                     4,794,084      4,766,529
 Supplemental financial data

  Stock-based compensation                 $      5,598   $      5,598
  Cash paid for income taxes               $  1,550,000   $  1,045,000

                                              Year Ended March 31
                                                2009           2008
                                           ------------   ------------
 Revenue
  Product sales                            $ 19,715,311   $ 18,505,650
  Contract research and development           3,656,958      2,023,162
                                           ------------   ------------
 Total revenue                               23,372,269     20,528,812
 Cost of sales                                6,724,242      6,833,308
                                           ------------   ------------
 Gross profit                                16,648,027     13,695,504
 Expenses
  Selling, general, and administrative        2,177,865      2,158,818
  Research and development                    1,218,572      1,487,907
                                           ------------   ------------
 Total expenses                               3,396,437      3,646,725
                                           ------------   ------------
 Income from operations                      13,251,590     10,048,779
 Interest income                              1,171,810        974,990
 Other income                                     4,200         56,235
                                           ------------   ------------
 Income before taxes                         14,427,600     11,080,004
 Provision for income taxes                   4,644,705      3,892,620
                                           ------------   ------------
 Net income                                $  9,782,895   $  7,187,384
                                           ============   ============
 Net income per share - basic              $       2.10   $       1.55
                                           ============   ============
 Net income per share - diluted            $       2.04   $       1.51
                                           ============   ============
 Weighted average shares outstanding
  Basic                                       4,659,486      4,635,470
  Diluted                                     4,785,565      4,763,101
 Supplemental financial data

  Stock-based compensation                 $     86,672   $    169,606
  Cash paid for income taxes               $  4,356,000   $  3,254,313</pre>
</td>
  </tr>
</table>
<br><br><hr><br clear="all" style="page-break-before:always;">
<table border="0" cellspacing="0" cellpadding="0" align="center" >
  <tr>
<td>
<pre><b>                           NVE CORPORATION
                           BALANCE SHEETS
                       MARCH 31, 2009 AND 2008</b>

                                          (Unaudited)
                                        March 31, 2009  March 31, 2008
                                        --------------  --------------
 ASSETS
 Current assets
  Cash and cash equivalents             $    1,875,063  $    1,885,867
  Marketable securities, short term                 --         795,728
  Accounts receivable, net of allowance
   for uncollectible accounts of $15,000     3,366,698       3,226,027
  Inventories                                2,247,621       2,456,804
  Deferred tax assets                          667,729         453,405
  Prepaid expenses and other assets            669,307         529,616
                                        --------------  --------------
 Total current assets                        8,826,418       9,347,447
 Fixed assets
  Machinery and equipment                    5,328,237       5,205,288
  Leasehold improvements                       450,546         436,794
                                        --------------  --------------
                                             5,778,783       5,642,082
  Less accumulated depreciation              4,485,509       4,276,680
                                        --------------  --------------
 Net fixed assets                            1,293,274       1,365,402
 Marketable securities, long term           32,446,748      22,055,279
                                        --------------  --------------
 Total assets                           $   42,566,440  $   32,768,128
                                        ==============  ==============

 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities
  Accounts payable                      $      257,239  $      434,808
  Accrued payroll and other                    637,463         632,338
  Deferred revenue                             104,167         187,500
                                        --------------  --------------
 Total current liabilities                     998,869       1,254,646

 Shareholders' equity
  Common stock                                  46,693          46,387
  Additional paid-in capital                19,166,524      18,539,538
  Accumulated other comprehensive (loss)
   income                                     (252,940)        103,158
  Retained earnings                         22,607,294      12,824,399
                                        --------------  --------------
 Total shareholders' equity                 41,567,571      31,513,482
                                        --------------  --------------
 Total liabilities and shareholders'
  equity                                $   42,566,440  $   32,768,128
                                        ==============  ==============</pre>
    </td>
  </tr>
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<br><br><hr>
</TEXT>
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<DESCRIPTION>NVE CORPORATION LOGO
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
