Vicor Corporation (VICR) saw its loss narrow to $0.97 million, or $0.02 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $5.35 million, or $0.14 a share.
Revenue during the quarter grew 18.33 percent to $54.46 million from $46.03 million in the previous year period. Gross margin for the quarter expanded 146 basis points over the previous year period to 43.43 percent. Operating margin for the quarter stood at negative 2.53 percent as compared to a negative 11.80 percent for the previous year period.
Operating loss for the quarter was $1.38 million, compared with an operating loss of $5.43 million in the previous year period.
Dr. Patrizio Vinciarelli, chief executive officer, stated, "Financial performance fell short of consolidated net profitability because of manufacturing inefficiencies related to ramping new products. Notably, shipments of 48V to Point-of-Load solutions for datacenter servers rose by a third sequentially concurrently with the start of a steeper ramp of AC to 48V and 48V to Power-on-Package ("PoP") solutions for an advanced supercomputing installation taking place in Q2. A sequential increase in consolidated bookings and a strengthening book-to-bill ratio bode well for projected sequential increases in quarterly revenues and profitability in 2017."
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
