NVE Corporation (NVEC - Free Report) reported second-quarter fiscal 2017 earnings of 68 cents per share, surpassing the Zacks Consensus Estimate of 56 cents by 21.4%. The reported figure was on par with the year-ago tally of 68 cents.
Total Revenue
In the quarter under review, total revenue came in at $7.30 million, surpassing the Zacks Consensus Estimate of $7 million by 4.3%.
Reported revenues also inched up 0.3% year over year primarily due to 6% growth in product sales. This was partially offset by a 42% plunge in contract research and development revenues.
NVE CORP Price, Consensus and EPS Surprise
Quarterly Highlights
NVE Corp.’s gross profit was $5.56 million, down 1.3% from $5.64 million a year ago.
Total expenses decreased 3.6% year over year to $1.11 million primarily due to lower selling, general and administrative, and research and development expenses.
Interest income in the reported quarter was $0.43 million, down 8% mainly due to lower interest-bearing marketable securities.
Financial Position
As of Sep 30, 2016, NVE Corp. had cash and cash equivalents of $5.69 million, compared with $7.53 million as of Mar 31, 2016.
Dividend Announcement
During the fiscal second quarter, the company announced cash dividend to stockholders of $1.00 per share. The new distribution will be paid on Nov 30, 2016 to shareholders of record as of Oct 31, 2016.
Upcoming Peer Releases
Applied Optoelectronics, Inc. (AAOI - Free Report) is scheduled to report third-quarter 2016 earnings on Nov 3. The Zacks Consensus Estimate stands at 22 cents.The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AXT Inc. (AXTI - Free Report) is slated to announce third-quarter 2016 earnings on Oct 26. The Zacks Consensus Estimate is pegged at 4 cents.ATX also carries a Zacks Rank #1.
Alpha & Omega Semiconductor, Ltd. (AOSL - Free Report) is expected to release first-quarter fiscal 2017 earnings on Nov 3. The Zacks Consensus Estimate stands at 5 cents. The stock has a Zacks Rank #2 (Buy).
Zacks Rank
NVE Corporation currently carries a Zacks Rank #3 (Hold).
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NVE Corporation (NVEC - Free Report) reported second-quarter fiscal 2017 earnings of 68 cents per share, surpassing the Zacks Consensus Estimate of 56 cents by 21.4%. The reported figure was on par with the year-ago tally of 68 cents.
Total Revenue
In the quarter under review, total revenue came in at $7.30 million, surpassing the Zacks Consensus Estimate of $7 million by 4.3%.
Reported revenues also inched up 0.3% year over year primarily due to 6% growth in product sales. This was partially offset by a 42% plunge in contract research and development revenues.
NVE CORP Price, Consensus and EPS Surprise
Quarterly Highlights
NVE Corp.’s gross profit was $5.56 million, down 1.3% from $5.64 million a year ago.
Total expenses decreased 3.6% year over year to $1.11 million primarily due to lower selling, general and administrative, and research and development expenses.
Interest income in the reported quarter was $0.43 million, down 8% mainly due to lower interest-bearing marketable securities.
Financial Position
As of Sep 30, 2016, NVE Corp. had cash and cash equivalents of $5.69 million, compared with $7.53 million as of Mar 31, 2016.
Dividend Announcement
During the fiscal second quarter, the company announced cash dividend to stockholders of $1.00 per share. The new distribution will be paid on Nov 30, 2016 to shareholders of record as of Oct 31, 2016.
Upcoming Peer Releases
Applied Optoelectronics, Inc. (AAOI - Free Report) is scheduled to report third-quarter 2016 earnings on Nov 3. The Zacks Consensus Estimate stands at 22 cents.The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AXT Inc. (AXTI - Free Report) is slated to announce third-quarter 2016 earnings on Oct 26. The Zacks Consensus Estimate is pegged at 4 cents.ATX also carries a Zacks Rank #1.
Alpha & Omega Semiconductor, Ltd. (AOSL - Free Report) is expected to release first-quarter fiscal 2017 earnings on Nov 3. The Zacks Consensus Estimate stands at 5 cents. The stock has a Zacks Rank #2 (Buy).
Zacks Rank
NVE Corporation currently carries a Zacks Rank #3 (Hold).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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