Vicor Q1 revenue up 10.8% YoY to $97.8M, EPS $0.25; backlog drops 36% YoY

VICOR CORP

2023-Q1 EPS reported $0.25 revenue$97,816,000

Revenue $97.8M, up 10.8% YoY; net income $11.2M ($0.25 diluted EPS) vs $5.0M ($0.11) a year ago.
Gross margin improved to 47.6% from 42.6% a year ago; operating cash flow $10.1M.
Backlog fell 36% YoY to $271.3M; bookings weak until AI OEMs adopt advanced power distribution.
Automotive progress with 4G modular solutions up to 150kW; production ramps expected starting 2025.
First ChiP foundry completion imminent; 5G FPA for scalable vertical PDNs for AI systems.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VICOR CORP reported the first quarter ended March 31, 2023 results: revenue $97.8 million, net income $11.2 million, EPS $0.25 per diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $97.8 million
Net income: $11.2 million
EPS: $0.25 per diluted share
Result: reported results

Exact text from the filing

Revenues for the first quarter ended March 31, 2023 totaled $97.8 million, a 10.8% increase from $88.3 million for the corresponding period a year ago, and a 7.3% sequential decrease from $105.5 million in the fourth quarter of 2022. Gross margin increased to $46.5 million for the first quarter of 2023, compared to $37.6 million for the corresponding period a year ago, and decreased sequentially from $49.1 million for the fourth quarter of 2022. Gross margin, as a percentage of revenue, increased to 47.6% for the first quarter of 2023, compared to 42.6% for the corresponding period a year ago, and from 46.6% for the fourth quarter of 2022. Net income for the first quarter was $11.2 million, or $0.25 per diluted share, compared to net income of $5.0 million or $0.11 per diluted share, for the corresponding period a year ago and net income of $8.1 million, or $0.18 per diluted share, for the fourth quarter of 2022.

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Source: SEC EDGAR

accession 0001193125-23-115369

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