NVE Corporation Reports Second Quarter Fiscal 2005 Results. Expects to roll out MRAM in 2005.
Believes its IP is necessary for high-density/high-perfomance MRAM. Discusses MOT/Freescale license status
Net income for the second quarter was $423,298, or $0.09 per diluted share. We expect selling, general and administrative expenses to increase in fiscal 2005 if we rollout MRAM manufactured under our technology agreement with Cypress... Certain of our patents cover MRAM cells with transistor selection for data retrieval, which we believe may be necessary for successful high-density, high- performance MRAMs. We know of no practical alternative design being pursued by potential MRAM suppliers that could be sold in commercial quantities in the foreseeable future. If Freescale loses its license through Motorola from NVE through ceasing to be controlled by Motorola, or if the Patent License Option Agreement is terminated through a cessation of manufacturing of MRAM Products by Motorola, we would be free to negotiate a new license agreement with Freescale.
