NVE reports its financial results for Q1 2017

Spintronics developed NVE Corporation reported its financial results for Q1 2017. Revenues reached $6.85 million (up 12% from Q1 2016), due to 23% increase in product sales (offset by 49% decrease in contract R&D revenues). net income increased 16% to $3.03 million.

NVE recently introduced three new and improved products; a low-field angle sensor, a new spintronics mangetometer sensor (which is the world's smallest high-performance integrated circuit analog sensor) and the world's smallest high performance isolated network transceiver.

NVE also reports it is progressing in its Department of Agriculture project to detect salmonella in industry relevant large samples. The next major project milestone, scheduled for August 2017, is to prototype components.

Posted: May 04,2017 by Ron Mertens