-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ArAqWhl5/2EefHlpjSxXL5rP8Y5Ud5kpyirduNoKkkFxe1aIHqvcg+WRr4rUp8yG xfRxAPT8QDFbgnILsKsd2g== 0000724910-04-000009.txt : 20040503 0000724910-04-000009.hdr.sgml : 20040503 20040503093547 ACCESSION NUMBER: 0000724910-04-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040430 ITEM INFORMATION: FILED AS OF DATE: 20040503 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: 04771560 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 8-K 1 dtls8k04.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 30, 2004 ---------------- NVE Corporation --------------- (Exact name of registrant as specified in its charter) Minnesota 000-12196 41-1424202 - ------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 11409 Valley View Road, Eden Prairie, Minnesota 55344 - ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Issuer's telephone number, including area code (952) 829-9217 -------------- - ------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 12. Results of Operations and Financial Condition Furnished as Exhibit 99 are detailed financial statements for the quarter and fiscal year ended March 31, 2004 which are being posted to our Web site. INDEX TO EXHIBITS Exhibit Description ------- ----------- 99 Detailed financial statements for the quarter and fiscal year ended March 31, 2004 SIGNATURE 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. NVE CORPORATION (Registrant) Date April 30, 2004 /s/ Daniel A. Baker ------------------- By: Daniel A. Baker President and Chief Executive Officer EX-99 2 fy04dtls.txt DETAILED FINANCIAL STATEMENTS NVE Corporation CONDENSED STATEMENTS OF OPERATIONS QUARTER AND YEAR ENDED MARCH 31, 2004 AND 2003 (IN THOUSANDS EXCEPT PER SHARE; UNAUDITED)
Quarter ended March 31, 2004 March 31, 2003 Revenue: Contract research and development $ 1,667 $ 1,709 Product sales 1,541 795 License revenue - 98 -------------- -------------- Total revenue 3,208 2,602 Cost of sales 1,890 1,638 -------------- -------------- Gross profit 1,318 964 Expenses Research and development 391 364 Selling, general and administrative 441 513 -------------- -------------- Total expenses 832 877 -------------- -------------- Income from operations 486 87 Interest Income 49 57 Interest expense (5) (8) Other Income 23 24 -------------- -------------- Income from operations before income taxes 533 160 Income tax (benefit) (237) - -------------- -------------- Net income $ 790 $ 160 ============== ============== Weighted average shares outstanding 4,877 4,366 Net income per share - diluted $ 0.16 $ 0.04 Year ended March 31, 2004 March 31, 2003 Revenue: Contract research and development $ 6,617 $ 6,553 Product sales 5,393 2,503 License revenue - 391 -------------- -------------- Total revenue 12,010 9,447 Cost of sales 7,445 5,911 -------------- -------------- Gross profit 4,565 3,536 Expenses Research and development 1,103 1,308 Selling, general and administrative 1,831 1,838 -------------- -------------- Total expenses 2,934 3,146 -------------- -------------- Income from operations 1,631 390 Interest Income 189 211 Interest expense (25) (40) Other Income 80 86 -------------- -------------- Income from operations before income taxes 1,875 647 Income tax (benefit) (233) - -------------- -------------- Net income $ 2,108 $ 647 ============== ============== Weighted average shares outstanding 4,727 4,324 Net income per share - diluted $ 0.45 $ 0.15
NVE Corporation CONDENSED BALANCE SHEETS MARCH 31, 2004 AND MARCH 31, 2003 (IN THOUSANDS)
(UNAUDITED) March 31, March 31, 2004 2003 ASSETS Current assets: Cash $ 1,056 $ 596 Investment securities 6,489 5,880 Account Receivable, net 1,739 1,028 Inventories 1,150 841 Other current assets 547 170 ----------- ----------- Total current assets 10,981 8,515 Fixed assets 1,439 1,167 ----------- ----------- Total assets $ 12,420 $ 9,682 =========== =========== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable 327 311 Accrued payroll and other 712 626 Other current liabilities 547 1,043 ----------- ----------- Total current liabilities 1,586 1,980 Long-term liabilities 101 223 ----------- ----------- Total liabilities 1,687 2,203 Shareholders' equity: Common stock 45 42 Additional paid-in capital 13,298 12,171 Accumulated other comprehensive income 90 73 Accumulated deficit (2,700) (4,807) ----------- ----------- Total shareholders' equity 10,733 7,479 ----------- ----------- Total liabilities and shareholders' equity $ 12,420 $ 9,682 =========== ===========
-----END PRIVACY-ENHANCED MESSAGE-----