Vicor Corporation (VICR) saw its loss widen to $2.69 million, or $0.07 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $1.75 million, or $0.05 a share.
Revenue during the quarter dropped 6.44 percent to $48.08 million from $51.39 million in the previous year period. Gross margin for the quarter expanded 29 basis points over the previous year period to 44.71 percent. Operating margin for the quarter stood at negative 5.32 percent as compared to a negative 4.77 percent for the previous year period.
Operating loss for the quarter was $2.56 million, compared with an operating loss of $2.45 million in the previous year period.
Dr. Patrizio Vinciarelli, chief executive officer, commented on fourth quarter performance and the outlook for 2017, stating, "A nearly 10% sequential decline in quarterly consolidated revenue caused reduced manufacturing efficiencies, reduced product margins, and a quarterly loss. However, a sequential increase in consolidated bookings and a strengthening book-to-bill ratio bode well for sequential increases in quarterly revenues and profitability in 2017. Shipments of 48V to point-of-load solutions for datacenters rose 13% sequentially, with customers also placing orders for deliveries in Q1 and beyond. Design-in activity of advanced products in datacenter, supercomputing, autonomous driving, and aerospace applications accelerated, with first design wins for powering GPUs and for powering CPUs within the CPU package. This high level of activity and an improvement in bookings are indicative of increasing market traction enabled by our innovative and highly differentiated modular power components."
Working capital declinesVicor Corporation has witnessed a decline in the working capital over the last year. It stood at $89.54 million as at Dec. 31, 2016, down 5.65 percent or $5.36 million from $94.90 million on Dec. 31, 2015. Current ratio was at 5.03 as on Dec. 31, 2016, down from 5.61 on Dec. 31, 2015.
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