Vicor Q2 revenue rises 4.5% to $106.7 million; net income $17.1 million
Vicor reported second-quarter 2023 revenue of $106.7 million, up 4.5% from a year earlier, and net income of $17.1 million, or $0.38 per diluted share, versus $10.6 million, or $0.24, a year earlier. Backlog fell 47.0% year over year to $217.3 million, and CEO Dr. Patrizio Vinciarelli said Q2 bookings remained weak, with a new AI platform now expected to ramp in Q4.
- Q2 2023 revenue $106.7 million, up 4.5% from $102.2 million a year earlier and up 9.1% from $97.8 million in Q1 2023
- Q2 2023 net income $17.1 million, or $0.38 per diluted share, versus $10.6 million, or $0.24, a year earlier
- Backlog $217.3 million at June 30, 2023, down 47.0% from a year earlier and down 19.9% from $271.3 million at March 31, 2023
- Cash and cash equivalents of approximately $203.8 million at June 30, 2023; the filing gives no revenue or EPS guidance