NVE Corp (NVEC) Misses Q4 EPS by 14c

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Go back to NVE Corp (NVEC) Misses Q4 EPS by 14c

NVE Corporation Reports Fourth Quarter and Fiscal Year Results

May 7, 2014 4:05 PM EDT

EDEN PRAIRIE, Minn., May 7, 2014 (GLOBE NEWSWIRE) -- NVE Corporation (Nasdaq: NVEC) announced today financial results for the quarter and fiscal year ended March 31, 2014.

Total revenue for the fourth quarter of fiscal 2014 decreased 17% to $5.98 million from $7.22 million in the prior-year quarter. The decrease was due to a 9% decrease in product sales and an 85% decrease in contract research and development revenue. Net income for the fourth quarter of fiscal 2014 decreased 18% to $2.56 million, or $0.53 per diluted share, compared to $3.11 million, or $0.64 per diluted share, for the prior-year quarter.

For fiscal 2014, total revenue decreased 4% to $25.9... More