NVE Corporation reported unaudited earnings results for the fourth quarter and full year ended March 31, 2018. For the quarter, the company reported total revenue of $7,899,192 compared to $6,853,206 a year ago. The increase was due to a 19% increase in product sales partially offset by a 35% decrease in contract research and development revenue. Income from operations was $5,144,898 compared to $4,072,350 a year ago. Income before taxes was $5,548,792 compared to $4,459,234 a year ago. Net income was $3,882,420 or $0.80 per basic and diluted share compared to $3,027,383 or $0.62 per diluted share a year ago.

For the year, the company reported total revenue of $29,863,881 compared to $28,326,196 a year ago. Income from operations was $18,450,627 compared to $17,445,203 a year ago. Income before taxes was $20,008,824 compared to $19,096,011 a year ago. Net income was $13,912,672 or $2.87 per basic and diluted share compared to $12,948,869 or $2.68 per basic and diluted share a year ago. Operating cash flow increased 22% to highest ever.

The company currently expect effective rate to decrease significantly to approximately 22% in the new fiscal year 2019.