Loading...
•
Sep 30, 2023
NVE Q2 2024 Earnings Report
NVE's revenue and net income decreased in Q2 2024 due to decreased product sales and contract research and development revenue.
Key Takeaways
NVE Corporation reported a decrease in revenue and net income for the second quarter of fiscal 2024. Total revenue decreased by 33% to $7.13 million, and net income decreased by 22% to $4.72 million, or $0.98 per diluted share. The company announced a quarterly cash dividend of $1.00 per share.
Total revenue for Q2 2024 decreased 33% to $7.13 million.
Net income for Q2 2024 decreased 22% to $4.72 million, or $0.98 per diluted share.
The decrease in revenue was due to a 32% decrease in product sales and a 92% decrease in contract research and development revenue.
The company announced a quarterly cash dividend of $1.00 per share.