NVE Q2 revenue falls on lower product sales
NVE Q2 revenue falls on lower product sales
Overview
Spintronic products maker's fiscal Q2 revenue fell 8% yr/yr on lower product sales
Fiscal Q2 net income declined 4% yr/yr
Company declared quarterly cash dividend of $1.00 per share
Outlook
Company did not provide specific financial guidance for upcoming quarters or full year in its press release
Result Drivers
PRODUCT SALES DROP - Co said Q2 revenue decline was mainly due to a 9% decrease in product sales
CONTRACT R&D GROWTH - Higher contract research and development revenue partially offset product sales decline
HIGHER SG&A EXPENSES - Co reported an increase in selling, general, and administrative expenses in Q2
Company press release: ID:nBw2gZ18Za
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $5.83 mln |
|
Q2 EPS |
| $0.65 |
|
Q2 Net Income |
| $3.17 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)