NVE Corp
NASDAQ:NVEC
NVE Corp
NVE Corp. engages in the development and sale of devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. The company is headquartered in Eden Prairie, Minnesota and currently employs 44 full-time employees. The firm manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The firm has also licensed its spintronic magnetoresistive random access memory technology (MRAM). Its parts are found Industrial, scientific, and medical applications, as well as the Industrial Internet of Things. The firm's products include sensor, coupler, and MRAM product. Its sensor products detect the strength or gradient of magnetic fields and are often used to determine position or speed. Its spintronic couplers combine a giant magnetoresistance (GMR) sensor element and a microscopic coil. MRAM uses spintronics to store data. The company combines the speed of static random-access memory (SRAM), the density of dynamic random-access memory (DRAM) and the nonvolatility of flash memory.
NVE Corp. engages in the development and sale of devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information. The company is headquartered in Eden Prairie, Minnesota and currently employs 44 full-time employees. The firm manufactures spintronic products, including sensors and couplers that are used to acquire and transmit data. The firm has also licensed its spintronic magnetoresistive random access memory technology (MRAM). Its parts are found Industrial, scientific, and medical applications, as well as the Industrial Internet of Things. The firm's products include sensor, coupler, and MRAM product. Its sensor products detect the strength or gradient of magnetic fields and are often used to determine position or speed. Its spintronic couplers combine a giant magnetoresistance (GMR) sensor element and a microscopic coil. MRAM uses spintronics to store data. The company combines the speed of static random-access memory (SRAM), the density of dynamic random-access memory (DRAM) and the nonvolatility of flash memory.
Revenue Growth: NVE reported a 23% year-over-year revenue increase for the third quarter, driven by broad-based growth across product lines and channels.
Earnings Up: Net income rose 11% to $3.38 million, or $0.70 per diluted share, benefiting from higher revenue and lower operating expenses.
Gross Margin Decline: Gross margin fell to 79% from 84% last year, due to a less profitable product mix and increased distributor sales.
Lower Expenses: Operating expenses dropped 12%, with R&D down 9% and SG&A down 19% from the prior year.
Outlook: Management voiced optimism about continued growth, improved distributor inventory levels, and future sales from recent R&D and new equipment investments.
Abbott Agreement: NVE extended a supply partnership with Abbott Laboratories for two years, including price increases through 2027.
New Capacity & Products: Installation of new production equipment is on schedule and expected to enhance capacity, miniaturization, and sales opportunities.
