Spintronics Leader NVE Reports Earnings
Spintronics leader NVE reports earnings:
Net income for the third quarter was $375,172, compared with net income of $577,156 for the prior-year quarter. Earnings per share were $0.08 per share, compared to $0.12 per share for the prior year quarter. Revenue was $2.56 million, compared to $3.12 million for the prior-year quarter, a decrease of 18 percent.
For the nine months ended December 31, 2004, net income was $1,282,141, compared to net income of $1,318,050 for the nine months ended December 31, 2003. Earnings per share were $0.26 per share compared to $0.28 per share in the prior year period. Revenue for the first nine months of fiscal 2005 was $8.54 million, compared to $8.80 million reported in the first nine months of fiscal 2004, a 3 percent decrease.
"We are satisfied with our financial results in light of industry conditions," said Daniel A. Baker, Ph.D., NVE's president and chief executive officer. "We reported a solid profit in the third quarter despite a decline in revenues due to an anticipated sales reduction with St. Jude Medical and an industry-wide inventory glut. We expect new sensors and couplers, as well as MRAM devices and royalties, to drive future growth."
Frankly, I am surprised that any company that relies on nanotechnology for a substantial part of its earnings shows positive earnings per share. NVE reports that they hold 32 US Patents and 13 published US patent applications. I also think that it must be a great company to list its patents and applications on its website. I don’t know why all start-up technology firms wouldn’t do this.
Net income for the third quarter was $375,172, compared with net income of $577,156 for the prior-year quarter. Earnings per share were $0.08 per share, compared to $0.12 per share for the prior year quarter. Revenue was $2.56 million, compared to $3.12 million for the prior-year quarter, a decrease of 18 percent.
For the nine months ended December 31, 2004, net income was $1,282,141, compared to net income of $1,318,050 for the nine months ended December 31, 2003. Earnings per share were $0.26 per share compared to $0.28 per share in the prior year period. Revenue for the first nine months of fiscal 2005 was $8.54 million, compared to $8.80 million reported in the first nine months of fiscal 2004, a 3 percent decrease.
"We are satisfied with our financial results in light of industry conditions," said Daniel A. Baker, Ph.D., NVE's president and chief executive officer. "We reported a solid profit in the third quarter despite a decline in revenues due to an anticipated sales reduction with St. Jude Medical and an industry-wide inventory glut. We expect new sensors and couplers, as well as MRAM devices and royalties, to drive future growth."
Frankly, I am surprised that any company that relies on nanotechnology for a substantial part of its earnings shows positive earnings per share. NVE reports that they hold 32 US Patents and 13 published US patent applications. I also think that it must be a great company to list its patents and applications on its website. I don’t know why all start-up technology firms wouldn’t do this.
posted by SWBarns at
5:23 PM
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