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Sep 30, 2020
Vicor Q3 2020 Earnings Report
Reported financial results for the third quarter ended September 30, 2020.
Key Takeaways
Vicor Corporation reported revenues of $78.1 million, a 10.4% increase year-over-year. Net income was $5.8 million, or $0.13 per diluted share. The company's cash and cash equivalents increased to approximately $203.6 million.
Revenues totaled $78.1 million, a 10.4% increase from the corresponding period a year ago.
Gross margin increased to $33.3 million.
Net income was $5.8 million, or $0.13 per diluted share.
Cash and cash equivalents sequentially increased by $6.9 million to approximately $203.6 million.
Vicor
Vicor
Forward Guidance
The company's outlook for the fourth quarter is for a sequential increase in revenue and earnings per share. Capacity expansion is on schedule and vertical integration should soon lead to shorter cycle times, greater efficiencies, and improved margins.
Positive Outlook
- Sequential increase in revenue is expected.
- Earnings per share are expected to increase sequentially.
- Capacity expansion is on schedule.
- Vertical integration should lead to shorter cycle times.
- Vertical integration should lead to greater efficiencies.
Challenges Ahead
- Supply-chain challenges were experienced.
- Product mix challenges were experienced.
- Gross margin percentage decreased compared to the corresponding period a year ago.
- Net income per share decreased compared to the corresponding period a year ago.
- Incremental capital expenditures increased compared to the corresponding period a year ago.