NVE Corp (NVEC) Declares $1.00 Quarterly Dividend; 6% Yield

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Go back to NVE Corp (NVEC) Declares $1.00 Quarterly Dividend; 6% Yield

NVE Corporation Reports Fourth Quarter and Fiscal Year Results and Announces $1.00 per Share Quarterly Dividend

May 6, 2015 4:06 PM EDT

EDEN PRAIRIE, Minn., May 6, 2015 (GLOBE NEWSWIRE) -- NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter and fiscal year ended March 31, 2015.

Total revenue for the fourth quarter of fiscal 2015 increased 27% to $7.57 million from $5.98 million in the prior-year quarter. The increase was due to a 29% increase in product sales partially offset by an 81% decrease in contract research and development revenue. Net income for the fourth quarter of fiscal 2015 increased 43% to $3.66 million, or $0.75 per diluted share, compared to $2.56 million, or $0.53 per diluted share, for the prior-year quarter.

For fiscal 2015, total revenue increased 18%... More