<SEC-DOCUMENT>0000724910-13-000025.txt : 20130724
<SEC-HEADER>0000724910-13-000025.hdr.sgml : 20130724
<ACCEPTANCE-DATETIME>20130724160735
ACCESSION NUMBER:		0000724910-13-000025
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20130724
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20130724
DATE AS OF CHANGE:		20130724

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:		13983751

	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>NVE_Q1_FY2014_8K.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>July 24, 2013</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 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 ended June 30, 2013.<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>July&nbsp;24,&nbsp;2013</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 ended June 30, 2013.&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>q1-14pr.htm
<DESCRIPTION>PRESS RELEASE FOR QUARTER ENDED JUNE 30, 2013
<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 First Quarter Results</b></font></div>
<br>
EDEN PRAIRIE, Minn.&#151;July 24, 2013&#151;NVE Corporation (Nasdaq: NVEC) announced
today financial results for the quarter ended June&nbsp;30, 2013.<br>
<br>
Total revenue for the first quarter of fiscal 2014
decreased 17% to $6.18&nbsp;million from $7.46&nbsp;million
in the prior-year quarter. The decrease was primarily due to a 15% decrease in
product sales. Net income for the first quarter of fiscal 2014 decreased 24% to
$2.57&nbsp;million, or $0.53&nbsp;per diluted share, compared to $3.38&nbsp;million,
or $0.69&nbsp;per share, for the prior-year quarter.<br>
<br>
&#147;We are reporting strong earnings for the
quarter and record gross margin as a percentage of revenue, despite revenue decreases,&#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>
<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, 2013.</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 ENDED JUNE 30, 2013 AND 2012 (Unaudited)</b>

                                            Quarter Ended June 30
                                             2013           2012
                                         ------------   ------------
  Revenue
    Product sales                        $  5,974,606   $  7,030,745
    Contract research and development         202,327        432,160
                                         ------------   ------------
  Total revenue                             6,176,933      7,462,905
  Cost of sales                             1,378,355      1,802,353
                                         ------------   ------------
  Gross profit                              4,798,578      5,660,552
  Expenses
    Selling, general, and administrative      552,804        536,110
    Research and development                  962,911        688,026
                                         ------------   ------------
  Total expenses                            1,515,715      1,224,136
                                         ------------   ------------
  Income from operations                    3,282,863      4,436,416
  Interest income                             526,339        562,618
                                         ------------   ------------
  Income before taxes                       3,809,202      4,999,034
  Provision for income taxes                1,242,377      1,621,376
                                         ------------   ------------
  Net income                             $  2,566,825   $  3,377,658
                                         ============   ============
  Net income per share -- basic          $       0.53   $       0.70
                                         ============   ============
  Net income per share -- diluted        $       0.53   $       0.69
                                         ============   ============
  Weighted average shares outstanding
    Basic                                   4,862,436      4,824,745
    Diluted                                 4,884,902      4,886,873
</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
                    JUNE 30 AND MARCH 31, 2013</b>

                                           June 30,       March 31,
                                             2013           2013
                                         ------------   ------------
  ASSETS
  Current assets
    Cash and cash equivalents            $  2,270,943   $  2,509,683
    Marketable securities, short term       9,913,371      9,711,029
    Accounts receivable, net of
     allowance for uncollectible
     accounts of $15,000                    2,470,003      2,521,395
   Inventories                              3,231,940      3,336,592
   Deferred tax assets                        250,809             --
   Prepaid expenses and other assets        1,060,094        958,147
                                         ------------   ------------
  Total current assets                     19,197,160     19,036,846
  Fixed assets
    Machinery and equipment                 8,417,061      8,417,061
    Leasehold improvements                  1,499,454      1,499,454
                                         ------------   ------------
                                            9,916,515      9,916,515
    Less accumulated depreciation           6,418,258      6,228,122
                                         ------------   ------------
  Net fixed assets                          3,498,257      3,688,393
  Marketable securities, long term         75,352,422     73,040,257
                                         ------------   ------------
  Total assets                           $ 98,047,839   $ 95,765,496
                                         ============   ============

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Current liabilities
    Accounts payable                     $    338,633   $    422,092
    Accrued payroll and other                 733,982        918,060
    Income taxes payable                    1,044,404             --
    Deferred taxes                                 --        440,736
                                         ------------   ------------
  Total current liabilities                 2,117,019      1,780,888

  Long-term deferred tax liabilities          234,422             --

  Shareholders' equity
    Common stock                               48,624         48,624
    Additional paid-in capital             21,200,742     21,200,742
    Accumulated other comprehensive
     income                                   702,691      1,557,726
    Retained earnings                      73,744,341     71,177,516
                                         ------------   ------------
  Total shareholders' equity               95,696,398     93,984,608
                                         ------------   ------------
  Total liabilities and shareholders'
   equity                                $ 98,047,839   $ 95,765,496
                                         ============   ============ </pre>
</td>
</tr>
</table><hr>
</TEXT>
</DOCUMENT>
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<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>nve-logo.gif
<DESCRIPTION>NVE CORPORATION LOGO
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<DESCRIPTION>NVE CORPORATION LOGO
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