Vicor Q4 2019 Earnings Report
Key Takeaways
Vicor Corporation reported Q4 2019 revenues of $63.1 million, a 14.4% decrease year-over-year, and net income of $1.3 million, or $0.03 per diluted share, compared to $6.9 million, or $0.17 per diluted share, for the corresponding period a year ago. The results were influenced by tariffs, trade restrictions, and program rescheduling, with near-term visibility clouded by the potential impact of the coronavirus.
Q4 revenues decreased 14.4% year-over-year to $63.1 million.
Net income for Q4 was $1.3 million, or $0.03 per diluted share.
Gross margin increased to 47.1% compared to 45.9% in the corresponding period a year ago.
Total backlog at the end of Q4 was $104.2 million, up 1.2% from the end of 2018.
Vicor
Vicor
Forward Guidance
Vicor's Q4 revenues were influenced by continuing headwinds related to tariffs and trade restrictions and rescheduling of programs now due to ramp starting in Q2. Bookings came in as expected but near-term visibility is clouded by the potential impact of the coronavirus on China and the global economy.
Positive Outlook
- Customers seeking power system solutions to high current ASICs
- Customers seeking AI accelerators for hyper-scale computing
- Automotive OEMs seeking power system solutions for autonomous driving
- Automotive OEMs seeking power system solutions for electric vehicles.
- Pace of design wins and breadth of customer engagements in high growth markets like AI and automotive
Challenges Ahead
- Continuing headwinds related to tariffs
- Continuing headwinds related to trade restrictions
- Rescheduling of programs
- Near-term visibility is clouded by the potential impact of the coronavirus on China
- Near-term visibility is clouded by the potential impact of the coronavirus on the global economy.