NVE Corporation (NASDAQ:NVEC) Q4 2022 Earnings Conference Call May 4, 2022 5:00 PM ET
Company Participants
Daniel A. Baker – President and Chief Executive Officer
Joseph R. Schmitz – Chief Financial Officer
Conference Call Participants
Jeffrey Bernstein – Cowen Inc.
Thomas Cochran – Lake Road Partners
Operator
Good afternoon and welcome to our conference call for the quarter and fiscal year ended March 31, 2022. I'm Sue Miller, Senior Accountant at NVE. This call is being webcast live and being recorded. Our replay will be available through our website, nve.com. We issued our press release with Fourth Quarter and fiscal year results, and filed our annual report on Form 10-K in the past hour following the close of markets. On today's call, our President and CEO, Daniel Baker, and our CFO, Joe Schmitz. After Dan's opening comments, Joe will cover financial results for the quarter and fiscal year. Dan will cover the business and new products and then we'll open the call to questions. All lines will be muted until we open the call to questions.
Comments we may make that relate to future plans, events, financial results, or performance are forward-looking statements that are subject to certain risks and uncertainties, including among others, such factors as risks and uncertainties related to future sales and revenue, uncertainties related to future stock repurchases and dividend payments. our dependence on critical suppliers and packaging vendors, risks related to COVID-19 pandemic, and supply chain disruptions, as well as the risk factors listed from time-to-time in our filings with SEC, including our first file 10-K links to the documents we filed this afternoon are available to the SEC's website, our website, and our Twitter timeline. Actual results could differ materially from the information provided and we undertake no obligation to update forward-looking statements we may make. Now, I'll turn the call over to Dan Baker, our President and CEO.
Daniel A. Baker
What's going on with this people? Thank Sue. We're pleased to report a 22% increase in net income for the fourth quarter to $0.79 per diluted share, driven by a 15% revenue of increase. For the full fiscal year, net income increased 24% to $3 per share driven by 26% revenue increase. The strong growth was despite continuing supply chain disruptions. Joe will cover the details. Joe.
Joseph R. Schmitz
Thank you. Total revenue for the most recent quarter increased 15% to $6.75 million, 0.8 in the prior before.