Every material Form 8-K Vicor filed with the SEC in 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Vicor reported third-quarter 2023 revenue of $107.8 million, up 4.6% from a year earlier, and net income of $16.6 million, or $0.37 per diluted share, versus $1.8 million, or $0.04, a year ago. Backlog fell 53.0% from a year earlier to $174.7 million, and the CEO said Q3 bookings remained weak, which is a concern for future revenue even though current profit improved.
Q3 2023 revenue $107.8 million, up 4.6% year over year and up 1.0% sequentially
Q3 2023 net income $16.6 million, or $0.37 per diluted share, versus $0.04 a year earlier
Backlog $174.7 million at September 30, 2023, down 53.0% year over year and 19.6% sequentially
Cash and cash equivalents of approximately $227.8 million at September 30, 2023
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
Vicor's stockholders re-elected all twelve director nominees at the June 23, 2023 annual meeting and approved, on an advisory basis, the compensation of named executive officers. Stockholders also voted for advisory votes on executive pay every three years, which the Board adopted as policy. The filing also discloses the annual director stock option grant, now sized at $200,000 per director rather than $100,000.
All twelve director nominees were elected to serve until the 2024 annual meeting; Patrizio Vinciarelli received 135,823,033 votes for and 6,912,058 withheld.
Say-on-pay proposal passed with 141,019,623 votes for, 1,119,558 against and 595,910 abstaining.
Stockholders chose a three-year frequency for advisory executive compensation votes; the Board adopted this policy.
Directors received options on 3,769 shares at $53.07 per share, with the grant formula changed from $100,000 to $200,000 of value.
Vicor reported first-quarter 2023 results for the period ended March 31, 2023, with revenue up 10.8% year over year to $97.8 million and net income of $11.2 million, or $0.25 per diluted share, versus $5.0 million, or $0.11, a year earlier. Revenue fell 7.3% from the fourth quarter of 2022, and backlog declined 36.0% year over year to $271.3 million, so the picture is mixed beyond the year-over-year profit gain.
Revenue of $97.8 million, up 10.8% from $88.3 million a year earlier but down 7.3% from $105.5 million in Q4 2022
Net income of $11.2 million, or $0.25 per diluted share, compared with $5.0 million, or $0.11, a year earlier
Gross margin of 47.6% of revenue, up from 42.6% a year earlier; backlog of $271.3 million, down 36.0% from $423.7 million a year earlier
Cash and cash equivalents of approximately $192.9 million as of March 31, 2023; the company's conference call is set for 5:00 p.m. Eastern Time on April 25, 2023
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Vicor filing is on SEC EDGAR ↗. 8-K briefs of other companies →