NVE Corp (NVEC) Declares $1.00 Quarterly Dividend; 7.8% Yield

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Go back to NVE Corp (NVEC) Declares $1.00 Quarterly Dividend; 7.8% Yield

NVE Corporation Reports Second Quarter Results and Announces Quarterly Dividend

October 21, 2015 4:05 PM EDT

EDEN PRAIRIE, Minn., Oct. 21, 2015 (GLOBE NEWSWIRE) -- NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter and six months ended September 30, 2015.

Total revenue for the second quarter of fiscal 2016 decreased 12% to $7.28 million from $8.27 million in the prior-year quarter. The decrease was due to a 21% decrease in product sales, partially offset by a 449% increase in contract research and development revenue. Net income for the second quarter of fiscal 2016 decreased 15% to $3.31 million, or $0.68 per diluted share, compared to $3.88 million, or $0.80 per share, for the prior-year quarter.

For the first six months of fiscal 2016, total... More