NVEC

NVE says that they have completed several custom anti-temper MRAM integrated circuit designs. NVE designs conventional semiconductor ICs which they fabricate at outside foundries. Then they add the Spintronic structures, in this case spin-dependent tunnel junction memory cells, in their own factory.

NVE now reveals that they have received a number of the foundry wafers they have designed and they are in the process of adding MRAM to the wafers. The prototypes look promising so far although a fair amount of development remains before production.

NVE Corporation announced today financial results for the quarter and nine months ended December 31, 2008.  Total revenue for the third quarter of fiscal 2009 increased 23% to $5.88 million from $4.77 million in the prior-year quarter. The revenue increase was due to an 8% increase in product sales and a 150% increase in contract research and development revenue. Net income for the third quarter of fiscal 2009 increased 45% to $2.47 million.

For the first nine months of fiscal 2008, product sales increased 25% to $12.83 million from $10.23 million for the first nine months of fiscal 2007. Total revenue increased 22% to $14.48 million for the first nine months of fiscal 2008 from $11.90 million for the prior-year period. Net income for the nine months of fiscal 2008 was $4.93 million, or $1.04 per diluted share compared to $3.23 million, or $0.67 per diluted share, for the first nine months of fiscal 2007.

NVE has been notified that the patent, titled "Magnetic Memory Layers Thermal Pulse Transitions," will issue today. The patent is number 7,266,013 and covers inventions by Dr. James M. Daughton and Dr. Arthur V. Pohm. The grant is in addition to similarly-titled patent numbers 7,177,178 and 7,023,723.