"ausound" <ausound@[EMAIL PROTECTED]
> wrote in message
news:Xns9A8D8BE57F836ausoundspambogco@[EMAIL PROTECTED]
> NVEC
> PERIOD ENDING ....31-Dec-07 .30-Sep-07 30-Jun-07 31-Mar-07
> Retained Earnings ..10,571 ....8,869 ...7,224 ....5,637 <---
> Total Revenue....... 4,766 ....5,005 ...4,709.... 4,565 <---
> .
> Sale (buy) Stock ......3 ...... 2 ....... 42 .......0
> Net Borrowings ........0........0..........0........0 <------
> .
> Qtrly Revenue Growth (yoy):. 23.40% <---good
> Qtrly Earnings Growth (yoy): 61.90% <---xlnt
> Total Debt (mrq): 0 <---xlnt
> .
> Shares Short (feb08): 478.06K
> Shares Short (as of 26-Mar-08): 468.43K
> Short % of Float (as of 26-Mar-08): 10.10% <-------------shorts
> .
> Trailing P/E (ttm, intraday): 22.98
> Price/Sales (ttm): 7.40
> Price/Cash Flow (TTM): 20.10
> .
> NVE Cor****ation engages in the development and sale of devices using
> spintronics, a nanotechnology, which utilizes electron spin rather than
> electron charge to acquire, store, and transmit information. The company
> provides standard sensors that detect the presence of a magnet or metal
> to
> determine position or speed; custom sensors primarily for medical
> devices;
> and couplers that use semiconductor input stages, primarily for factory
> and
> industrial networks. NVE Cor****ation also licenses the spintronic
> magnetoresistive random access memory technology, commonly known as
MRAM.
> It sells its products through distributors primarily in the United
> States,
> Europe, and Asia. The company was founded in 1982 and is headquartered
in
> Eden Prairie, Minnesota.
> -------------
> FROM THE 10-Q QUARTERLY RE****T:
> Total revenue for the quarter ended December 31, 2007 (the third
> quarter of fiscal 2008) increased 23% to $4,765,525 compared to
> $3,862,049 for the quarter ended December 31, 2006 (the third quarter of
> fiscal 2007). The increase was due to a 25% increase in product sales
and
> a 12% increase in research and development revenue.
>
> Gross profit margin increased to 65% of revenue for the third
> quarter of fiscal 2008 compared to 64% for the third quarter of fiscal
> 2007. The increase was primarily due to a more favorable revenue mix
> consisting of a higher percentage of product sales.
>
> Total expenses decreased 18% for the third quarter of fiscal 2008
> due to a 36% decrease in research and development expense, partially
> offset by a 3% increase in selling, general, and administrative expense.
> The decrease in research and development expense was due to the
> completion of certain research and development projects.
>
> Net interest and other income increased 105% to $322,795 for the
> third quarter of fiscal 2008 compared to $157,337 for the third quarter
> of fiscal 2007. The increase was primarily due to an increase in
> interest-bearing marketable securities and an increase in other income.
> Other income for the third quarter of fiscal 2008 consisted primarily of
> a $61,430 net gain on maturities and sales of federally-taxable
> marketable securities. The proceeds of such sales were reinvested in
> federally tax-exempt securities as part of a strategy to reduce taxes
> since we began paying higher cash income taxes in fiscal 2008.
>
> The provision for income taxes was $882,867 or 34.2% of income
> before taxes for the third quarter of fiscal 2008 compared to $558,504
or
> 34.7% of income before taxes for the third quarter of fiscal 2007. The
> decrease in the effective tax rate was principally due to the investment
> of some of our long-term marketable securities in federally tax-exempt
> securities as part of a strategy to reduce taxes since we began paying
> more cash income taxes in fiscal 2008.
>
> The 62% increase in net income in the third quarter of fiscal 2008
> compared to the third quarter of fiscal 2007 was primarily due to
> increases in product sales and interest income, and a decrease in
> research and development expense.
> ................................
> FROM THE 10K ANNUAL RE****T:
> WWW.SEC.GOV/NVEC = http://tinyurl.com/3p9oa9
> NVE is a Minnesota cor****ation headquartered in a suburb of Minneapolis.
> We were founded in 1989 primarily as a government contract research
> company. Our stock became publicly traded in 2000 through a reverse
> merger and became NASDAQ listed in 2003. Since our founding, we have
been
> awarded more than $50 million in government research contracts,
including
> more than 30 MRAM development contracts. These contracts have helped us
> build our intellectual property ****tfolio. Over the years our product
> sales have increased and we have reduced our dependence on research
> contracts.
> .
> Total revenue for fiscal 2007 increased 35% to $16,460,830 compared
> to $12,170,526 in fiscal 2006, and increased 5% for fiscal 2006 compared
> to $11,615,570 in fiscal 2005. The increases in both fiscal years were
> due to increases in product sales partially offset by decreases in
> research and development revenue.
>
> Product sales increased 73% to $14,425,632 in fiscal 2007 from
> $8,345,967 in fiscal 2006. Fiscal 2006 product sales increased 51% from
> $5,522,250 in fiscal 2005. The increases in both years were due to
> increased sales of both spintronic sensors and spintronic couplers.
>
> Contract research and development revenue decreased 47% for fiscal
> 2007 compared to fiscal 2006, and decreased 37% for fiscal 2006 compared
> to fiscal 2005. Both decreases were due to ****fts to company-funded
> research from contract-funded research and decreases in U.S. Government
> contract awards to us.
>
> Gross profit margin increased to 65% of revenue for fiscal 2007
> compared to 49% for fiscal 2006 and 40% for fiscal 2005. The increase in
> gross profit margin in fiscal 2007 from fiscal 2006 was due to a more
> profitable revenue mix consisting of a higher percentage of product
> sales, and increased product margins. The increased product margins in
> fiscal 2007 were due to price increases and deployment of lower-cost
> coupler designs. Increased gross profit margin in fiscal 2006 from
fiscal
> 2005 was due to a more profitable revenue mix consisting of a higher
> percentage of product sales and higher product margins due primarily to
> lower-cost coupler designs.
>
> Research and development expense increased 26% for fiscal 2007
> compared to fiscal 2006 and 24% for fiscal 2006 compared to fiscal 2005.
> The increases in both years were due to efforts to develop new and
> improved products and a ****ft to company-funded research from contract-
> funded research. Company-funded research and development programs
> included new spintronic sensor and spintronic coupler products.
>
> Selling, general, and administrative expense for fiscal 2007
> increased 11% to $1,950,999 compared to $1,756,142 for fiscal 2006. The
> increase was primarily due to $136,370 in non-cash effects of
stock-based
> compensation under SFAS No. 123(R), expenses related to preparation for
a
> Sarbanes-Oxley Act Section 404 controls-based audit, and increased legal
> expenses. Increased legal expenses were primarily related to
class-action
> lawsuits. Of the $136,370 effect of SFAS No. 123(R) in fiscal 2007,
> $126,094 was attributable to the automatic award of options to our
> directors on their initial election or reelection at our Annual Meeting
> of Shareholders in August 2006. Selling, general, and administrative
> expense for fiscal 2006 decreased 6% from fiscal 2005 due to a strategic
> ****ft to distributors selling our products rather than manufacturers'
> representatives. This ****ft reduced commissions we paid and expenses
> associated with sup****ting manufacturers' representatives.
>
> Interest income net of interest expense plus other income
> increased 75% to $646,234 for fiscal 2007 compared to $369,753 for
fiscal
> 2006 and 34% for fiscal 2006 compared to $276,073 for fiscal 2005. Both
> yearly increases were due to increases in interest-bearing marketable
> securities, increases in interest rates, and decreases in interest
> expense due to the reduction and then elimination of our debt.
>
> Income before taxes increased 153% for fiscal 2007 compared to
> fiscal 2006 and 75% for fiscal 2006 compared to fiscal 2005. Both
> increases were primarily due to increases in product revenue and gross
> profit margin.
>
> The effective income tax rate in fiscal 2007 declined to 34% of
> income before taxes from 37% in fiscal 2006 due to our *****sment that
it
> was more likely than not that we would realize certain tax credits.
> Provisions for income tax for fiscal 2007 and 2006 were due to the
> exhaustion of our net operating losses during fiscal 2005, although we
> did not pay significant cash taxes for fiscal 2007 and 2006 because of
> stock-based compensation deductions. The income tax benefit for fiscal
> 2005 was from the reduction of our valuation allowances relating to
> deferred tax assets for tax return purposes.
>
> The 156% increase in net income in fiscal 2007 compared to fiscal
> 2006 was due to an increase in income before taxes. The 2% increase in
> fiscal 2006 compared to fiscal 2005 was due to an increase in income
> before taxes, partially offset by a provision for income tax in fiscal
> 2006 rather than an income tax benefit in fiscal 2005.
>
> The increase in weighted-average diluted shares for fiscal 2007
> compared to fiscal 2006 was primarily due to a higher share price at
> March 31, 2007 compared to March 31, 2006, which increased the dilutive
> effect of options. The decrease in weighted-average diluted shares for
> fiscal 2006 compared to fiscal 2005 was due to the expiration of a
> warrant issued to Cypress Semiconductor Cor****ation for the purchase of
> up to 400,000 shares of our Common Stock, partially offset by an
increase
> in shares from stock options issued and exercised.
> ---------------
> .
> http://stockcharts.com/charts/gallery.html?NVEC
> .
> CURRENTLY: NVEC is in rally mode from it's most recent quarterly re****t
> of nearly tripling it's earnings yoy
> it's busted through it's 1yMA resistance. There is firm sup****t at $29,
> $26.50. and the line in the sand $24
> part of the rally can be attributed to short sellers covering
> Short % of Float (as of 26-Mar-08): 10.10% <-------------shorts
> I see 12%-19% upside from this level and percentage ratios could only
> improve with judicious buys on dips
> ENTRY:$26.75
> ........................
I have no idea what Magnetothermal MRAM is.
What little I read exhuisted me.. and I got a brain cramp
>>>NVE Cor****ation engages in the development and sale of devices using
spintronics, a nanotechnology, which utilizes electron spin rather than
electron charge to acquire, store, and transmit information. <<<
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