<SEC-DOCUMENT>0000724910-14-000031.txt : 20140723
<SEC-HEADER>0000724910-14-000031.hdr.sgml : 20140723
<ACCEPTANCE-DATETIME>20140723160552
ACCESSION NUMBER:		0000724910-14-000031
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140723
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20140723
DATE AS OF CHANGE:		20140723

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:		14988873

	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_FY2015_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 23, 2014</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="54" 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><DIV STYLE="page-break-after: always;"><HR></DIV>
<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&nbsp;30, 2014.<br>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p></font>
<DIV STYLE="page-break-after: always;">
<DIV STYLE="width: 100%; text-align: center;"><font face="Times New Roman, Times, serif" size="2">2</FONT></DIV>
<HR>
</DIV>
<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
23, 2014</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><DIV STYLE="page-break-after: always;">
<DIV STYLE="width: 100%; text-align: center;"><font face="Times New Roman, Times, serif" size="2">3</FONT></DIV>
<HR>
</DIV>
<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, 2014.&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>q1-15pr.htm
<DESCRIPTION>PRESS RELEASE FOR QUARTER ENDED JUNE 30, 2014
<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 Record Revenue and Earnings</b></font></div>
<br>EDEN PRAIRIE, Minn.&#151;July 23, 2014&#151;NVE Corporation (Nasdaq: NVEC) announced
today financial results for the quarter ended June&nbsp;30, 2014.<br>
<br>Total revenue for the first quarter of fiscal 2015 increased 37% to $8.45&nbsp;million
from $6.18&nbsp;million in the prior-year quarter. The increase was due to a 40% increase
in product sales, partially offset by a 48% decrease in contract research and
development revenue. Net income for the first quarter of fiscal 2015 increased
57% to $4.04&nbsp;million, or $0.83 per diluted share, compared to $2.57&nbsp;million, or
$0.53 per share, for the prior-year quarter.<br>
<br>
&#147;We are pleased to report record total revenue, product sales, and earnings for the quarter,&#148;
said NVE President and Chief Executive Officer Daniel&nbsp;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, uncertainties related to direct and indirect U.S. Government
funding, risks related to material weaknesses in our internal control over financial
reporting, 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, 2014.</b><br>
<br>
<DIV STYLE="page-break-after: always;">
<DIV STYLE="width: 100%; text-align: center;"><font face="Times New Roman, Times, serif" size="2">###</font></DIV>
<HR>
</DIV><table border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td>
<pre><b>
                          NVE CORPORATION
                       STATEMENTS OF INCOME
         QUARTERS ENDED JUNE 30, 2014 AND 2013 (Unaudited)

                                          Quarter Ended June 30
                                            2014         2013</b>
                                        -------------------------
  Revenue
   Product sales                         $ 8,348,081  $ 5,974,606
   Contract research and development         104,954      202,327
                                        -------------------------
  Total revenue                            8,453,035    6,176,933
  Cost of sales                            1,558,346    1,378,355
                                        -------------------------
  Gross profit                             6,894,689    4,798,578
  Expenses
   Selling, general, and administrative      629,650      552,804
   Research and development                  803,428      962,911
                                        -------------------------
  Total expenses                           1,433,078    1,515,715
                                        -------------------------
  Income from operations                   5,461,611    3,282,863
  Interest income                            548,554      526,339
                                        -------------------------
  Income before taxes                      6,010,165    3,809,202
  Provision for income taxes               1,973,055    1,242,377
                                        -------------------------
  Net income                             $ 4,037,110  $ 2,566,825
                                        =========================
  Net income per share - basic                $ 0.83       $ 0.53
                                        =========================
  Net income per share - diluted              $ 0.83       $ 0.53
                                        =========================
  Weighted average shares outstanding
   Basic                                   4,851,043    4,862,436
   Diluted                                 4,867,459    4,884,902


                               <b>NVE CORPORATION
                               BALANCE SHEETS
                         JUNE 30 AND MARCH 31, 2014

                                              June 30, 2014  March 31, 2014</b>
                                             ------------------------------
  ASSETS
  Current assets
   Cash and cash equivalents                  $   3,313,049   $   1,262,300
   Marketable securities, short term             10,743,412      12,360,091
   Accounts receivable, net of allowance
    for uncollectible accounts of $15,000         3,791,253       2,331,574
   Inventories                                    3,292,756       3,207,333
   Deferred tax assets                              210,532         237,387
   Prepaid expenses and other assets                965,549         816,276
                                             ------------------------------
  Total current assets                           22,316,551      20,214,961
  Fixed assets
   Machinery and equipment                        8,563,720       8,536,010
   Leasehold improvements                         1,499,454       1,499,454
                                             ------------------------------
                                                 10,063,174      10,035,464
   Less accumulated depreciation                  7,261,607       7,030,692
                                             ------------------------------
  Net fixed assets                                2,801,567       3,004,772
  Marketable securities, long term               86,192,766      82,022,310
                                             ------------------------------
  Total assets                                $ 111,310,884   $ 105,242,043
                                             ==============================

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Current liabilities
   Accounts payable                           $     513,239   $     374,127
   Accrued payroll and other                        778,181         808,675
   Income taxes payable                           1,744,427              --
                                             ------------------------------
  Total current liabilities                       3,035,847       1,182,802

  Long-term deferred tax liabilities                438,438         354,600

  Shareholders' equity
   Common stock                                      48,510          48,510
   Additional paid-in capital                    20,464,883      20,464,883
   Accumulated other comprehensive income           972,705         877,857
   Retained earnings                             86,350,501      82,313,391
                                             ------------------------------
  Total shareholders' equity                    107,836,599     103,704,641
                                             ------------------------------
  Total liabilities and shareholders' equity  $ 111,310,884   $ 105,242,043
                                             ==============================
</pre>
</td>
</tr>
</table><hr>
</TEXT>
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<FILENAME>nve-logo.gif
<DESCRIPTION>NVE CORPORATION LOGO
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