Christopher Chovsky

Christopher Chovsky, a Private Investor, asked for comments on the current quarter, specifically regarding the volatility and outlook for NVE's defense business. He also inquired whether the recent rise in NRE (Non-Recurring Engineering) revenues indicates potential for additional future non-defense business, and about the implications of NVE's two-year agreement extension with Abbott, specifically if it signifies market gains or NVE's inclusion in new Abbott devices.

Answer

Pete Eames, VP of Advanced Technology, acknowledged past weakness in the defense sector but expressed optimism for the future, anticipating a return to a more normalized flow of business. Dan Baker, President and CEO, affirmed that the increase in NRE revenues is aligned with NVE's goal of driving future sales, particularly through significant R&D investments in the medical space for miniaturization, and expressed satisfaction with customer and prospect responses to these new products. Dan Baker stated that due to confidentiality, NVE cannot disclose specific devices Abbott uses their parts in, but emphasized NVE's long-standing partnership with Abbott in making life-changing medical devices and highlighted ongoing efforts to promote products and engage with other medical customers at trade shows.