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NVE Corp (NVEC) Beats Earnings & Revenue Estimates in Q3
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NVE Corporation (NVEC - Free Report) reported third-quarter fiscal 2017 earnings of 72 cents per share, surpassing the Zacks Consensus Estimate of 64 cents by 12.5%. Quarterly earnings were also higher than the year-ago quarter figure of 53 cents.
Total Revenue
In the quarter under review, total revenue came in at $7.46 million, surpassing the Zacks Consensus Estimate of $7 million by 6.6%.
Moreover, reported revenues jumped 23.9% year over year primarily driven by a 42% surge in product sales, partially offset by a 65% plunge in contract research and development revenues.
NVE Corp.’s gross profit was $5.95 million, up 32.2% from $4.50 million a year ago.
Total expenses increased 6.1% year over year to $1.21 million primarily due to higher selling, general and administrative, and research and development expenses.
Interest income in the reported quarter was $0.39 million, down 15.6% mainly due to lower interest-bearing marketable securities.
Financial Position
As of Dec 31, 2016, NVE Corp. had cash and cash equivalents of $3.79 million, compared with $7.53 million as of Mar 31, 2016.
Price Movement
Over the last one year, NVE Corp. has underperformed the Zacks categorized Electronics Semiconductors industry. The company’s shares gained 38.3%, compared with the industry’s return of 73.6%.
Upcoming Peer Releases
Applied Optoelectronics, Inc. (AAOI - Free Report) is expected to release fourth-quarter 2016 earnings on Feb 23. The Zacks Consensus Estimate for the quarter is pegged at 63 cents.
Broadcom Limited (AVGO - Free Report) is expected to release fourth-quarter 2016 earnings on Mar 2. The Zacks Consensus Estimate for the quarter is pegged at $3.02.
Infineon Technologies AG (IFNNY - Free Report) is expected to release fourth-quarter 2016 earnings on Feb 2. The Zacks Consensus Estimate for the quarter is pegged at 19 cents.
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NVE Corp (NVEC) Beats Earnings & Revenue Estimates in Q3
NVE Corporation (NVEC - Free Report) reported third-quarter fiscal 2017 earnings of 72 cents per share, surpassing the Zacks Consensus Estimate of 64 cents by 12.5%. Quarterly earnings were also higher than the year-ago quarter figure of 53 cents.
Total Revenue
In the quarter under review, total revenue came in at $7.46 million, surpassing the Zacks Consensus Estimate of $7 million by 6.6%.
Moreover, reported revenues jumped 23.9% year over year primarily driven by a 42% surge in product sales, partially offset by a 65% plunge in contract research and development revenues.
NVE Corp. Price, Consensus and EPS Surprise
NVE Corp. Price, Consensus and EPS Surprise | NVE Corp. Quote
Quarterly Highlights
NVE Corp.’s gross profit was $5.95 million, up 32.2% from $4.50 million a year ago.
Total expenses increased 6.1% year over year to $1.21 million primarily due to higher selling, general and administrative, and research and development expenses.
Interest income in the reported quarter was $0.39 million, down 15.6% mainly due to lower interest-bearing marketable securities.
Financial Position
As of Dec 31, 2016, NVE Corp. had cash and cash equivalents of $3.79 million, compared with $7.53 million as of Mar 31, 2016.
Price Movement
Over the last one year, NVE Corp. has underperformed the Zacks categorized Electronics Semiconductors industry. The company’s shares gained 38.3%, compared with the industry’s return of 73.6%.
Upcoming Peer Releases
Applied Optoelectronics, Inc. (AAOI - Free Report) is expected to release fourth-quarter 2016 earnings on Feb 23. The Zacks Consensus Estimate for the quarter is pegged at 63 cents.
Broadcom Limited (AVGO - Free Report) is expected to release fourth-quarter 2016 earnings on Mar 2. The Zacks Consensus Estimate for the quarter is pegged at $3.02.
Infineon Technologies AG (IFNNY - Free Report) is expected to release fourth-quarter 2016 earnings on Feb 2. The Zacks Consensus Estimate for the quarter is pegged at 19 cents.
Zacks Rank
NVE Corp. currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>