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NVE Corporation Reports Fourth Quarter and Fiscal Year Results and Announces Quarterly Dividend
EDEN PRAIRIE, Minn., May 07, 2025--NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter and fiscal year ended March 31, 2025.
About this update from Nve Corporation
EDEN PRAIRIE, Minn., May 07, 2025 --( BUSINESS WIRE )--NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter and fiscal year ended March 31, 2025. Total revenue for the fourth quarter of fiscal 2025 increased 3% to $7.27 million from $7.08 million for the prior-year quarter. The increase was due to a 558% increase in contract research and development revenue, partially offset by a 1% decrease in product sales. Net income for the fourth quarter of fiscal 2025 increased 2% to $3.89 million, or $0.80 per diluted share, compared to $3.81 million, or $0.79 per diluted share, for the prior-year quarter. For fiscal 2025, total revenue decreased 13% to $25.9 million, compared to $29.8 million in the prior year. The decrease was due to a 16% decrease in product sales, partially offset by a 112% increase in contract research and development revenue. Net income for fiscal 2025 decreased 12% to $15.1 million, or $3.11 per diluted share, from $17.1 million, or $3.54 per share, for fiscal 2024. The company also announced a quarterly cash dividend to shareholders of $1.00 per share of common stock, payable May 30, 2025 to shareholders of record as of May 19, 2025. "We’re pleased to report year-over-year and sequential revenue and earnings growth for the quarter," said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D. 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. 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 our reliance on several large customers for a significant percentage of revenue, uncertainties related to the economic environments in the industries we serve, uncertainties related to future sales and revenues, risks and uncertainties related to tariffs, customs, duties, and other trade barriers, 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, 2025. View source version on businesswire.com: https://www.businesswire.com/news/home/20250507204540/en/ Contacts [email protected]