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NVE Corporation (NVEC) reported total revenues of $6.35 million for Q2 of fiscal 2026, ending September 30, 2025, marking a 6% decrease from $6.76 million a year earlier. The decline was primarily due to a 68% drop in contract research and development (R&D) revenues. Net income fell 18% to $3.31 million, or 68 cents per diluted share, down from $4.03 million, or 83 cents per share, in the previous year.
For the first six months of fiscal 2026, revenues decreased 8% to $12.45 million, with net income down 15% to $6.89 million, or $1.42 per diluted share. The company’s gross profit also declined, falling 14% to $4.97 million, resulting in a gross margin of 78%, down from 86% the previous year. Despite these challenges, NVE achieved a 4% sequential revenue increase and emphasized a focus on medical devices and industrial automation for future growth.
Management announced a quarterly cash dividend of $1 per share, payable on November 28, 2025. The completion of new manufacturing equipment installation is expected to enhance production capabilities, supporting strategic shifts toward sectors like implantable medical devices and robotics.
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