NVE Notified of Two Spintronics Patent Grants

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 Reports 4Q Results

Total revenue for the fourth quarter of fiscal 2008 increased 33% to $6.05 million from $4.57 million in the prior-year quarter. The revenue increase was primarily due to a 35% increase in product sales to $5.67 million for the fourth quarter of fiscal 2008 from $4.19 million in the prior-year quarter. Net income for the fourth quarter of fiscal 2008 increased 45% to $2.25 million, or $0.47 per diluted share, compared to $1.55 million, or $0.33 per diluted share, for the prior-year quarter. Gross margin was 69% of revenue, operating margin 55%, pretax margin 59%, and net margin 37% for the quarter.

NVE Notified of Patent Grant for Superparamagnetic Devices

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.

NVE Corporation Reports 3Q results, no MRAM news

Product sales for the quarter increased 25% over the prior-year quarter to $4.25 million from $3.40 million. Total revenue, consisting of product sales and contract research and development revenue, increased 23% to $4.77 million for the third quarter of fiscal 2008 from $3.86 million in the prior-year quarter. Net income for the third quarter of fiscal 2008 increased 62% to $1.70 million, or $0.36 per diluted share, compared to $1.05 million, or $0.22 per share, for the prior-year quarter.

For the first nine months of fiscal 2008, product sales increased 25% to $12.83 million from $10.23 million for the first nine months of fiscal 2007. Total revenue increased 22% to $14.48 million for the first nine months of fiscal 2008 from $11.90 million for the prior-year period.

NVE Corporation Reports Second Quarter Results, no MRAM news

Product sales for the quarter increased 14% over the prior-year quarter to $4.31 million from $3.78 million. Total revenue, consisting of product sales and contract research and development revenue, increased 14% to $5.00 million for the second quarter of fiscal 2008 from $4.40 million in the prior-year quarter. Net income for the second quarter of fiscal 2008 increased 28% to $1.64 million, or $0.34 per diluted share, compared to $1.28 million, or $0.27 per share, for the prior-year quarter.

NVE Corporation Reports First Quarter Results

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.

NVE Corporation Reports Fourth Quarter and Fiscal Year Results

Product sales for the fourth quarter of fiscal 2007 increased 50% over the prior-year quarter to $4.19 million from $2.80 million. Total revenue, consisting of product sales and contract research and development revenue, increased 31% to $4.57 million for the fourth quarter of fiscal 2007 from $3.48 million in the prior-year quarter. Net income for the fourth quarter of fiscal 2007 increased 151% to $1.55 million, or $0.33 per diluted share, compared to $619,744, or $0.13 per share, for the prior-year quarter.

NVE Corporation Reports First Quarter Fiscal 2007 Results

Product sales for the quarter increased 71% over the prior-year quarter to $3.05 million from $1.78 million. Total revenue, which consisted of product sales and contract research and development revenue, increased 20% to $3.64 million for the first quarter of fiscal 2007 from $3.03 million for the prior-year quarter. Net income for the quarter was $891,806 or $0.19 per diluted share, compared to $412,649 or $0.09 per diluted share for the prior-year quarter.

Net income for the quarter ended June 30, 2006 included the effect of $2,569 in non-cash stock-based compensation due to the implementation of SFAS 123(R). Net income for the first quarter of fiscal 2007 also included a $473,241 non-cash provision for income taxes compared to $240,468 for the prior-year quarter.

NVE gains patents on spintronic magnetic workings

NVE Corporation said that it has been notified by the U.S. Patent and Trademark Office (USPTO) that two patents are expected to be granted today. The patents are titled "Two-Axis Magnetic Field Sensor" and "Superparamagnetic Devices."

The Two-Axis Magnetic Field Sensor is patent number 7,054,114, and is the grant of a patent under the application published by the USPTO as number 2004-0137275. The invention is for a spintronic device that can detect the magnitude and orientation of magnetic fields. Applications for such devices might include Magnetoresitive Random Access Memory (MRAM), or military, industrial, and medical sensors.