NVE

NVE Corporation announced today financial results for the quarter and six months ended September 30, 2009. TOtal revenue increased 14% to $6.51M, and net income increased 17% to $2.69M

NVE corporation reported their financial results for 1Q 2009. Total revenue increased to 7.83M$, and profit was 2.94$.

The main increase in revenue is due to a 22% increase in product sales and 311% increase in contract R&D revenue.

NVE Corporation today announced the introduction of the AAT001-10E TMR Angle Sensor, NVE’s first commercial sensor to use Tunneling Magnetoresistance (TMR), which produces an even “more giant” signal than Giant Magnetoresistance.

Also known as Spin-Dependent Tunneling (SDT), Magnetic Tunnel Junction (MTJ), or Tunneling Magnetic Junction (TMJ), Tunneling Magnetoresistance is a spintronic quantum effect that produces a dramatic resistance change in a normally insulating layer, depending on the magnetic field and thus the predominant electron spin in a free layer. The new device has four TMR elements configured as an angle sensor with full quadrature sine and cosine outputs.

NVE Corporation announced today financial results for the quarter and nine months ended December 31, 2008.  Total revenue for the third quarter of fiscal 2009 increased 23% to $5.88 million from $4.77 million in the prior-year quarter. The revenue increase was due to an 8% increase in product sales and a 150% increase in contract research and development revenue. Net income for the third quarter of fiscal 2009 increased 45% to $2.47 million.

NVE reported a strong growth in contract R&D. In the conference call, Daniel Baker (company's CEO) said - "Most of the contracts that we're working on right now are related to anti-tamper MRAM".

NVE Corporation has been notified by the U.S. Patent and Trademark Office of the expected grant today of a patent relating to spintronic biosensor technology, which could be used in laboratory-on-a-chip systems. The patent is number 7,446,524 and titled "Method for detecting magnetic particles in a fluid using thin-film magnetic field sensor."

Total revenue for the second quarter of fiscal 2009 increased 14% to $5.73 million from $5.00 million in the prior-year quarter. The revenue increase was due to a 13% increase in product sales and a 24% increase in contract research and development revenue. Net income for the second quarter of fiscal 2009 increased 40% to $2.30 million, or $0.48 per diluted share, compared to $1.64 million, or $0.34 per diluted share, for the prior-year quarter.

For the first six months of fiscal 2009, total revenue increased 9% to $10.6 million from $9.71 million for the first six months of fiscal 2008. The revenue increase was primarily due to a 10% increase in product sales to $9.42 million for the first half of fiscal 2009 from $8.58 million for the prior-year period.

Total revenue for the first quarter of fiscal 2009 increased 3% to $4.86 million from $4.71 million in the prior-year quarter. The revenue increase was due to a 7% increase in product sales to $4.55 million for the first quarter of fiscal 2009 from $4.27 million in the prior-year quarter. Net income for the first quarter of fiscal 2009 increased 20% to $1.90 million, or $0.40 per diluted share, compared to $1.59 million, or $0.33 per diluted share, for the prior-year quarter.

"Product sales drove strong profits,'' said NVE President and Chief Executive Officer Daniel A. Baker, Ph.D. "Gross margin was 71% of revenue, operating margin 52%, pretax margin 58%, and net margin 39%.''

NVE Corporation has been notified by the U.S. Patent and Trademark Office of the expected grant today of two patents relating to spintronics.

The first patent is number 7,390,584 and titled "Spin dependent tunneling devices having reduced topological coupling." Spin-dependent tunnel junctions, also known as magnetic tunnel junctions or tunneling magnetic junctions, are spintronic structures that can form the heart of spintronic magnetoresistive random access memory technology, commonly known as MRAM.

The second patent is number 7,391,091 and titled "Magnetic particle flow detector," and is related to spintronic biosensor technology, which could be used in laboratory-on-a-chip systems.

NVE Corporation has been notified by the U.S. Patent and Trademark Office of the expected grant today of patent number 7,355,822, titled "Superparamagnetic Devices" and assigned to NVE.
 
Superparamagnetism is the magnetic state of a material between highly ordered parallel spins (ferromagnetism) and randomly ordered spins (paramagnetism). The superparamagnetic effect occurs in ferromagnetic structures smaller than a critical value or at temperatures higher than a critical temperature.
 
Superparamagnetism can improve the accuracy of spintronic sensors because a small sensed field is sufficient to order the spins in a superparamagnetic material. More accurate sensors are useful in a number of applications including military, medical, and biosensor.