NVE Corporation Reports First Quarter Results
Submitted by spin on July 19, 2007 - 04:39.
Investment
Product sales for the quarter increased 40% over the prior-year quarter to $4.27 million from $3.05 million. Total revenue, consisting of product sales and contract research and development revenue, increased 30% to $4.71 million for the first quarter of fiscal 2008 from $3.64 million in the prior-year quarter. Net income for the first quarter of fiscal 2008 increased 78% to $1.59 million, or $0.33 per diluted share, compared to $891,806, or $0.19 per share, for the prior-year quarter.
"We are pleased to report record net income for the quarter driven by strong product sales," said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.
Product sales for the quarter increased 40% over the prior-year quarter to $4.27 million from $3.05 million. Total revenue, consisting of product sales and contract research and development revenue, increased 30% to $4.71 million for the first quarter of fiscal 2008 from $3.64 million in the prior-year quarter. Net income for the first quarter of fiscal 2008 increased 78% to $1.59 million, or $0.33 per diluted share, compared to $891,806, or $0.19 per share, for the prior-year quarter. "We are pleased to report record net income for the quarter driven by strong product sales," said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.
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