<SEC-DOCUMENT>0000724910-12-000010.txt : 20120502
<SEC-HEADER>0000724910-12-000010.hdr.sgml : 20120502
<ACCEPTANCE-DATETIME>20120502161149
ACCESSION NUMBER:		0000724910-12-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20120502
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20120502
DATE AS OF CHANGE:		20120502

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:		12805427

	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>q4-12cvr.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 2, 2012</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" alt="NVE Logo"><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><br>
<div align="center"><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>
(Former name or former address, if changed since last report.)</div><br><br>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 7.01. Regulation FD Disclosure.</b><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furnished as Exhibit 99 is a press release of NVE Corporation reporting results for the quarter and fiscal year ended March 31, 2012.<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.<br>
&nbsp;
</font>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td width="33%" valign="top">
<font face="Times New Roman, Times, serif" size="2">Date&nbsp;&nbsp;<b><u>May 2,&nbsp;2012</u></b>
</font>
</td>
<td align="center" width="34%"><font face="Times New Roman, Times, serif" size="2"><b><u>NVE CORPORATION<br>
</u></b>(Registrant)<br>
<br>
<u>&nbsp;/s/&nbsp;CURT&nbsp;A.&nbsp;REYNDERS</u><br>
Curt A. Reynders<br>
Chief Financial Officer</font></td><td width="33%"></td></tr>
</table><p>
<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="1%">
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Exhibit&nbsp;#</u></b></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="2"><font face="Times New Roman, Times, serif" size="2"></font></td></tr>
<tr>
<td valign="top">
<font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;99</font></td>
<td align="center"><font face="Times New Roman, Times, serif" size="2">Press release of NVE Corporation reporting results for the quarter and fiscal year ended March 31, 2012.&nbsp;
</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"><br>
4</font>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>q4-12pr.htm
<DESCRIPTION>PRESS RELEASE FOR QUARTER AND YEAR ENDED MARCH 31, 2012
<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" alt="NVE Logo"></td>
<td align="right"><font face="Arial, Helvetica, sans-serif" size="3"><b>PRESS RELEASE</b></font><br>
<font face="Arial, Helvetica, sans-serif" size="2">For immediate release</font></td></tr> </table><hr color="#225EAC" noshade size="1">
<div align="center"><font face="Arial, Helvetica, sans-serif"><br>
<b>NVE Corporation Reports Fourth Quarter and Fiscal Year Results</b><br>
<i>Quarterly product sales reach record</i></font></div>
&nbsp;<br>
EDEN PRAIRIE, Minn.&#151;May 2, 2012&#151;NVE Corporation (Nasdaq: NVEC) announced today
financial results for the quarter and fiscal year ended March 31, 2012.
<br>
<br>
Total revenue for the fourth quarter of fiscal 2012 decreased 7% to $7.61 million from
$8.18 million in the prior-year quarter. Product sales increased 7%, and contract research and
development revenue decreased 70%. Net income for the fourth quarter of fiscal 2012 decreased
16% to $3.10 million, or $0.63 per diluted share, compared to $3.67 million, or $0.75 per diluted
share, for the prior-year quarter.
<br>
<br>For fiscal 2012, total revenue decreased 8% to $28.6 million from $31.2 million for the prior
fiscal year. Product sales decreased 3% and contract research and development revenue
decreased 34%. Net income for fiscal 2012 was $11.4 million, or $2.34 per diluted share,
compared to $13.4 million, or $2.76 per diluted share, for fiscal 2011.
<br>
<br>
&#147;We are pleased to report record product sales for the quarter,&#148; said NVE President and Chief
Executive Officer Daniel A. Baker, Ph.D. &#147;We generated solid earnings for the fourth quarter and
fiscal year despite significant challenges in the past year.&#148;
<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>
<b>Statements used in this press release that relate to future plans, events, financial results or
performance are forward-looking statements that are subject to certain risks and
uncertainties including, among others, such factors as risks of decreased revenues, risks in
the enforcement of our patents, litigation risks, 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 for the
fiscal year ended March 31, 2012.
</b><br>
<br>
<div align=center>###</div><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, 2012 AND 2011 (Unaudited)</b>

                                          Quarter Ended March 31
                                            2012           2011
                                        -------------  -------------
 Revenue
  Product sales                         $   7,176,491  $   6,733,984
  Contract research and development           431,808      1,449,117
                                        -------------  -------------
 Total revenue                              7,608,299      8,183,101
 Cost of sales                              2,277,115      2,641,170
                                        -------------  -------------
 Gross profit                               5,331,184      5,541,931
 Expenses
  Selling, general, and administrative        637,882        573,312
  Research and development                    774,899        286,910
                                        -------------  -------------
 Total expenses                             1,412,781        860,222
                                        -------------  -------------
 Income from operations                     3,918,403      4,681,709
 Interest income                              595,605        535,762
                                        -------------  -------------
 Income before taxes                        4,514,008      5,217,471
 Provision for income taxes                 1,416,325      1,547,552
                                        -------------  -------------
 Net income                             $   3,097,683  $   3,669,919
                                        =============  =============
 Net income per share - basic           $        0.64  $        0.77
                                        =============  =============
 Net income per share - diluted         $        0.63  $        0.75
                                        =============  =============
 Weighted average shares outstanding
  Basic                                     4,824,745      4,771,954
  Diluted                                   4,889,291      4,887,185


                                             Year Ended March 31
                                             2012           2011
                                        -------------  -------------
 Revenue
  Product sales                         $  25,151,822  $  26,024,823
  Contract research and development         3,427,398      5,172,240
                                        -------------  -------------
 Total revenue                             28,579,220     31,197,063
 Cost of sales                              9,325,511      9,783,698
                                        -------------  -------------
 Gross profit                              19,253,709     21,413,365
 Expenses
  Selling, general, and administrative      2,380,603      2,474,468
  Research and development                  2,600,058      1,269,127
                                        -------------  -------------
 Total expenses                             4,980,661      3,743,595
                                        -------------  -------------
 Income from operations                    14,273,048     17,669,770
 Interest income                            2,350,191      2,021,426
                                        -------------  -------------
 Income before taxes                       16,623,239     19,691,196
 Provision for income taxes                 5,242,144      6,330,251
                                        -------------  -------------
 Net income                             $  11,381,095  $  13,360,945
                                        =============  =============
 Net income per share - basic           $        2.37  $        2.83
                                        =============  =============
 Net income per share - diluted         $        2.34  $        2.76
                                        =============  =============
 Weighted average shares outstanding
  Basic                                     4,796,227      4,729,035
  Diluted                                   4,863,471      4,844,266


</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
                            MARCH 31, 2012 AND 2011</b>

                                            March 31,      March 31,
                                              2012           2011
                                          -------------  -------------
 ASSETS
 Current assets
  Cash and cash equivalents               $   1,544,536  $     952,209
  Marketable securities, short term          17,551,629      7,970,358
  Accounts receivable, net of allowance
   for uncollectible accounts of
   $15,000                                    2,684,840      3,596,239
  Inventories                                 3,229,376      3,343,857
  Prepaid expenses and other assets           1,159,852      1,185,306
                                          -------------  -------------
 Total current assets                        26,170,233     17,047,969
 Fixed assets
  Machinery and equipment                     7,488,211      6,178,207
  Leasehold improvements                        720,882        612,682
                                          -------------  -------------
                                              8,209,093      6,790,889
  Less accumulated depreciation               5,697,861      5,259,773
                                          -------------  -------------
 Net fixed assets                             2,511,232      1,531,116
 Marketable securities, long term            54,445,298     53,257,140
                                          -------------  -------------
 Total assets                             $  83,126,763  $  71,836,225
                                          =============  =============

 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities
  Accounts payable                        $     663,702  $     731,580
  Accrued payroll and other                     867,331        987,403
  Deferred taxes                                136,872        146,693
                                          -------------  -------------
 Total current liabilities                    1,667,905      1,865,676

 Shareholders' equity
  Common stock                                   48,247         47,762
  Additional paid-in capital                 20,974,477     20,894,766
  Accumulated other comprehensive income      1,087,456      1,060,438
  Retained earnings                          59,348,678     47,967,583
                                          -------------  -------------
 Total shareholders' equity                  81,458,858     69,970,549
                                          -------------  -------------
 Total liabilities and shareholders'
  equity                                  $  83,126,763  $  71,836,225
                                          =============  =============</pre>
</td>
</tr>
</table><hr>
</TEXT>
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<DESCRIPTION>NVE CORPORATION LOGO
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end
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
