| Overview | NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on
electron spin rather than electron charge to acquire, store and transmit
information. The company make spintronics practical by manufacturing high-performance
products including sensors and couplers that are used to acquire and transmit
data in industrial, scientific, and medical applications. NVE has also
licensed its spintronic magnetoresistive random access memory technology,
commonly known as MRAM. |
| Historical Highlights |
| 1989 | – | Founded as Nonvolatile Electronics, Inc. in Edina, Minn. |
|
| 1990 | – | First government contracts
(from the National Science Foundation and U.S. Navy) |
|
| 1993 | – | First patent (“Offset magnetoresistive memory structures”) |
|
| 1994 | – | First commercial spintronic sensors |
|
| 1995 | – | MRAM Patent License Option Agreement with Motorola |
|
| 1998 | – | Moved into a portion of current building in Eden Prairie, Minn. |
|
| 2000 | – | Formal name changed to NVE Corporation |
| – | Introduced spintronic couplers |
|
| 2001 | – | Distribution agreement with Digi-Key |
| – | Pioneer MRAM patent (“Spin-dependent tunneling memory”) |
|
| 2002 | – | Expanded into entire building at current location |
|
| 2003 | – | NASDAQ listed (initial price of $7.85 per share) |
|
| 2004 | – | Initial orders from Starkey Laboratories |
|
| 2006 | – | St. Jude Medical Supplier Partnering Agreement |
|
| 2007 | – | Newark distribution agreement |
|
| 2008 | – | IL500 series of spintronic couplers |
|
| 2009 | – | Tunneling Magnetoresistive angle sensors |
| – | Supplier agreement with Phonak AG |
|
| 2010 | – | Controller Area Network couplers |
|
| Major Product Lines
|
 Spintronic sensors
IsoLoop® Spintronic Couplers |
| Major Customers |
Avago Technologies
Phonak AG
St. Jude Medical, Inc.
U.S. Government |
| Key Distributors |
Digi-Key
Newark
Hy-Line
Rhopoint |
Financial Highlights
(from our Annual
Report on Form 10-K for the fiscal year ended 3/31/10)
|
Net income increased 23% to $2.47 per diluted share
Revenue increased 20% to $28.1 million
70% gross margin; 58% operating margin; 43% net margin |
Awards and Accolades
<More> | Top Product of the Year (Medical Product Manufacturing News)
Top 10 Small Public Companies in America (Forbes)
FSB 100—America’s fastest-growing small public companies (Fortune Small Business) |
Rankings
<More> |
| #1 | Return on revenue among largest Minnesota-based publicly-traded companies |
|
| #8 | Forbes Top Small Public Companies in America |
|
| #96 | Star Tribune 100 Largest Minnesota-Based Publicly-Traded Companies |
|
Stock Symbol
| Nasdaq: NVEC |
| Shares Outstanding | 4,700,583 shares outstanding as of June 9, 2010 |
| Employees | Approx. 52 |
Patents
<More Info> |
More than 50 issued U.S. patents
Over 100 patents worldwide either issued, pending,
 or licensed from others |
| Facility | Eden Prairie, Minnesota
Approximately 21,000 square feet of laboratories, offices, and production |
| Headquarters | 11409 Valley View Road
Eden Prairie, MN 55344
(952) 829-9217 |
