Vicor Corp (VICR) Tops Q2 EPS by 4c, Revenues Beat

Vicor Corp (NASDAQ: VICR) reported Q2 EPS of $0.06, $0.04 better than the analyst estimate of $0.02. Revenue for the quarter came in at $70.7 million versus the consensus estimate of $66.13 million.

Commenting on the second quarter, Dr. Patrizio Vinciarelli, Chief Executive Officer, stated, “Second quarter bookings reflected accelerating demand for Advanced Products. Second quarter revenue recovered sequentially reflecting ramping shipments of lateral power system solutions for AI accelerators and recovery of Asian demand, which had been impacted during the first quarter by COVID-19. For the second quarter, the impact of the pandemic shifted from Asia to other regions, notably the United States, which experienced a 16% sequential decline in shipments, as non-essential manufacturing slowed considerably. COVID-19 continued to have an influence on our supply chain during the second quarter, causing production inefficiencies.”

Dr. Vinciarelli concluded, “Despite the continuing effects of COVID-19 on the global economy, Vicor’s outlook remains positive, and our confidence in our long-term opportunity is high. Expansion of our manufacturing facilities is underway, and we have placed substantial orders for additional equipment to expand manufacturing capacity and enable us to manufacture high volume products with high efficiency. Our outlook for the third quarter is for a sequential increase in revenue and earnings per share.”

For earnings history and earnings-related data on Vicor Corp (VICR) click here.

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