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NVE (NVEC) Beat Q3 Earnings Estimates on Lower Expenses
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NVE Corporation (NVEC - Free Report) reported third-quarter fiscal 2018 earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 63 cents by 23.8%. Quarterly earnings were also higher than 72 cents in the year-ago quarter.
Total Revenues
In the quarter under review, total revenues were $7.36 million, surpassing the Zacks Consensus Estimate of $7 million by 5.1%. Revenues declined 1% from $7.46 million the year-ago quarter. The downside was caused by 9% drop in product sales which was offset by a 164% surge in contract research and development revenues.
NVE’s gross profit was $5.70 million, down 4.2% from $5.95 million a year ago.
Total expenses dropped 3.3% year over year to $1.17 million, thanks to lower selling, general and administrative expenses.
Interest income in the reported quarter was $0.40 million, up 2.3% than year over year.
Tax rate reduced to 27.7% from 32.3% in the year-ago quarter due to the implementation of the Tax Cuts and Jobs Act.
Financial Position
As of Dec 31, 2017, NVE had cash and cash equivalents of $4.72 million, compared with $8.19 million as of Mar 31, 2017.
Operating cash flow in the first nine months of fiscal 2018 was $11.32 million, up 2.8% from $11 million a year ago.
Upcoming Peer Releases
SMART Global Holdings (SGH - Free Report) is expected to release second-quarter fiscal 2018 earnings on Mar 15. The Zacks Consensus Estimate for earnings is pegged at $1.33.
Broadcom Limited (AVGO - Free Report) is expected to release first-quarter fiscal 2018 earnings on Mar 7. The Zacks Consensus Estimate for earnings is pegged at $4.95.
Himax Technologies (HIMX - Free Report) is expected to release fourth-quarter 2017 earnings on Feb 15. The Zacks Consensus Estimate for earnings is pegged at 15 cents.
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NVE (NVEC) Beat Q3 Earnings Estimates on Lower Expenses
NVE Corporation (NVEC - Free Report) reported third-quarter fiscal 2018 earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 63 cents by 23.8%. Quarterly earnings were also higher than 72 cents in the year-ago quarter.
Total Revenues
In the quarter under review, total revenues were $7.36 million, surpassing the Zacks Consensus Estimate of $7 million by 5.1%. Revenues declined 1% from $7.46 million the year-ago quarter. The downside was caused by 9% drop in product sales which was offset by a 164% surge in contract research and development revenues.
NVE Corporation Price, Consensus and EPS Surprise
NVE Corporation Price, Consensus and EPS Surprise | NVE Corporation Quote
Quarterly Highlights
NVE’s gross profit was $5.70 million, down 4.2% from $5.95 million a year ago.
Total expenses dropped 3.3% year over year to $1.17 million, thanks to lower selling, general and administrative expenses.
Interest income in the reported quarter was $0.40 million, up 2.3% than year over year.
Tax rate reduced to 27.7% from 32.3% in the year-ago quarter due to the implementation of the Tax Cuts and Jobs Act.
Financial Position
As of Dec 31, 2017, NVE had cash and cash equivalents of $4.72 million, compared with $8.19 million as of Mar 31, 2017.
Operating cash flow in the first nine months of fiscal 2018 was $11.32 million, up 2.8% from $11 million a year ago.
Upcoming Peer Releases
SMART Global Holdings (SGH - Free Report) is expected to release second-quarter fiscal 2018 earnings on Mar 15. The Zacks Consensus Estimate for earnings is pegged at $1.33.
Broadcom Limited (AVGO - Free Report) is expected to release first-quarter fiscal 2018 earnings on Mar 7. The Zacks Consensus Estimate for earnings is pegged at $4.95.
Himax Technologies (HIMX - Free Report) is expected to release fourth-quarter 2017 earnings on Feb 15. The Zacks Consensus Estimate for earnings is pegged at 15 cents.
Zacks Rank
NVE Corporation currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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