The company reported net income of $6.39 million, or $1.32 per share, marking a significant rise from the $3.58 million, or 74 cents per share, recorded in the prior-year period. Total revenue reached $11 million, up from $6.1 million a year ago. Daniel A. Baker, NVE’s President and CEO, attributed these results to robust demand within the semiconductor market and successful new product sales.

Beyond the quarterly gains, NVE declared a cash dividend of $1 per share. This payout is scheduled for August 31 for shareholders on record as of August 3. The stock was trading at $124.04 late Thursday morning as the market continued to digest the report.