NVE Corporation Reports Second Quarter Results and Announces Quarterly Dividend

December 15, 2023

https://www.globenewswire.com/news-release/2023/10/18/2762744/7753/en/NVE-Corporation-Reports-Second-Quarter-Results-and-Announces-Quarterly-Dividend.html

EDEN PRAIRIE, Minn., Oct. 18, 2023 (GLOBE NEWSWIRE) — NVE Corporation (Nasdaq:NVEC) announced today financial results for the quarter and six months ended September 30, 2023.

Total revenue for the second quarter of fiscal 2024 decreased 33% to $7.12 million from $10.7 million for the prior-year quarter. The decrease was due to a 32% decrease in product sales and a 92% decrease in contract research and development revenue. Net income for the second quarter of fiscal 2024 decreased 22% to $4.72 million, or $0.98 per diluted share, compared to $6.09 million, or $1.26 per share, for the prior-year quarter.

Read more at globenewswire.com

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