NVE Q1 revenue up 20% to $8.83M, net income up 6%, declares $1.00 dividend

NVE CORP /NEW/

2024-Q1 EPS reported $0.91 revenue$8,831,414

Total revenue $8.83M for June quarter, up 20% YoY; product sales up 23%.
Net income $4.40M ($0.91 EPS diluted), up 6% from $4.14M ($0.86) prior year.
Board declares $1.00/share quarterly dividend, payable Aug 31, record Jul 31.
Contract R&D revenue decreased 50% YoY, partially offsetting product sales growth.

item 2.02 item 8.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NVE CORP /NEW/ reported quarter ended June 30, 2023 results: revenue $8.83 million, net income $4.40 million, EPS $0.91 per diluted share.

Period: quarter ended June 30, 2023
Revenue: $8.83 million
Net income: $4.40 million
EPS: $0.91 per diluted share
Result: reported results

Exact text from the filing

Total revenue for the first quarter of fiscal 2024 increased 20% to $8.83 million from $7.34 million for the prior-year quarter. The increase was due to a 23% increase in product sales partially offset by a 50% decrease in contract research and development revenue. Net income for the first quarter of fiscal 2024 increased 6% to $4.40 million, or $0.91 per diluted share, compared to $4.14 million, or $0.86 per share, for the prior-year quarter.

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Source: SEC EDGAR

accession 0001376474-23-000367

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