10-Q Filing

VICOR CORP CIK: 751978 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-161080`
Period End Date	20150331
Filing Date	20150430
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	vicr-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 41 Cash Flow Statement 44 Comprehensive Income 18

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$183.00K	USD	Point-in-time
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$215.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.34M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$270.00K	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$90.00K	USD	Point-in-time
Accounts receivable, less allowance of $215 in 2015 and $183 in 2014	`AccountsReceivableNetCurrent`	$32.67M	USD	Point-in-time
Accounts receivable, less allowance of $215 in 2015 and $183 in 2014	`AccountsReceivableNetCurrent`	$28.43M	USD	Point-in-time
Inventories, net	`InventoryNet`	$24.84M	USD	Point-in-time
Inventories, net	`InventoryNet`	$26.33M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$107.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$107.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.18M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$113.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$120.21M	USD	Point-in-time
Long-term investments, net	`LongTermInvestments`	$3.00M	USD	Point-in-time
Long-term investments, net	`LongTermInvestments`	$2.90M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$37.39M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$36.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.68M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.70M	USD	Point-in-time
Total assets	`Assets`	$161.27M	USD	Point-in-time
Total assets	`Assets`	$155.54M	USD	Point-in-time
Total assets	`Assets`	$163.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.93M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$8.66M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$9.17M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.22M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.18M	USD	Point-in-time
Accrued severance charges	`RestructuringReserveCurrent`	$1.31M	USD	Point-in-time
Accrued severance charges	`RestructuringReserveCurrent`	$1.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$17.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$41.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.44M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.16M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$637.00K	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$572.00K	USD	Point-in-time
Long-term income taxes payable	`AccruedIncomeTaxesNoncurrent`	$867.00K	USD	Point-in-time
Long-term income taxes payable	`AccruedIncomeTaxesNoncurrent`	$873.00K	USD	Point-in-time
Deferred income taxes payable	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$329.00K	USD	Point-in-time
Deferred income taxes payable	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$329.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$24.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$26.46M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock	`CommonStockValue`	$393.00K	USD	Point-in-time
Common Stock	`CommonStockValue`	$393.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$171.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$172.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$98.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$94.76M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-471.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-523.00K	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$138.93M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$138.93M	USD	Point-in-time
Total Vicor Corporation stockholders' equity	`StockholdersEquity`	$127.77M	USD	Point-in-time
Total Vicor Corporation stockholders' equity	`StockholdersEquity`	$131.96M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.85M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$2.78M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$134.81M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$130.55M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$161.27M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$155.54M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$53.23M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$64.02M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$35.13M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$30.44M	USD	1 Quarter
Gross margin	`GrossProfit`	$22.79M	USD	1 Quarter
Gross margin	`GrossProfit`	$28.89M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.98M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.86M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.25M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$28.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.28M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-5.44M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$3.61M	USD	1 Quarter
Total unrealized (losses) gains on available-for-sale securities, net	`MarketableSecuritiesUnrealizedGainLoss`	$39.00K	USD	1 Quarter
Total unrealized (losses) gains on available-for-sale securities, net	`MarketableSecuritiesUnrealizedGainLoss`	$-15.00K	USD	1 Quarter
Portion of losses (gains) recognized in other comprehensive income (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$19.00K	USD	1 Quarter
Portion of losses (gains) recognized in other comprehensive income (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-39.00K	USD	1 Quarter
Net credit gains recognized in earnings	`AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments`	$4.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-33.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$30.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$30.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$-29.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.41M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.58M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$139.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$17.00K	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$3.44M	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$-5.43M	USD	1 Quarter
Less: Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-48.00K	USD	1 Quarter
Less: Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$71.00K	USD	1 Quarter
Net income (loss) attributable to Vicor Corporation	`NetIncomeLoss`	$-5.38M	USD	1 Quarter
Net income (loss) attributable to Vicor Corporation	`NetIncomeLoss`	$3.37M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.14	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.54M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.69M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.54M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.15M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income (loss)	`ProfitLoss`	$3.44M	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$-5.43M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.44M	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$563.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$234.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$33.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$53.00K	USD	1 Quarter
Decrease in long-term deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-34.00K	USD	1 Quarter
Decrease in long-term deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-34.00K	USD	1 Quarter
Gain on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$4.00K	USD	1 Quarter
Gain on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$35.00K	USD	1 Quarter
Credit gain on available-for-sale securities	`AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments`	$4.00K	USD	1 Quarter
Increase (decrease) in long-term income taxes payable	`IncreaseDecreaseInLongTermIncomeTaxesPayable`	$6.00K	USD	1 Quarter
Increase (decrease) in long-term income taxes payable	`IncreaseDecreaseInLongTermIncomeTaxesPayable`	$-2.00K	USD	1 Quarter
Change in current assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$1.74M	USD	1 Quarter
Change in current assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$1.30M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.07M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.48M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.55M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.47M	USD	1 Quarter
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$270.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$35.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Increase in other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$65.00K	USD	1 Quarter
Increase in other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$34.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.58M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.23M	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$5.00K	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$310.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$310.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.00K	USD	1 Quarter
Effect of foreign exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-16.00K	USD	1 Quarter
Effect of foreign exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$27.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.13M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.03M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$59.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.31M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$59.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.31M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.19M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.34M	USD	Point-in-time

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation gains (losses), tax benefit	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Foreign currency translation gains (losses), tax benefit	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$3.44M	USD	1 Quarter
Consolidated net income (loss)	`ProfitLoss`	$-5.43M	USD	1 Quarter
Recognized income tax provision (benefit)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
Foreign currency translation (losses) gains, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$77.00K	USD	1 Quarter
Recognized income tax provision (benefit)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
Foreign currency translation (losses) gains, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-37.00K	USD	1 Quarter
Unrealized (losses) gains on available-for-sale securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-15.00K	USD	1 Quarter
Unrealized (losses) gains on available-for-sale securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$37.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-52.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$114.00K	USD	1 Quarter
Consolidated comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$3.39M	USD	1 Quarter
Consolidated comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-5.31M	USD	1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$71.00K	USD	1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-43.00K	USD	1 Quarter
Comprehensive income (loss) attributable to Vicor Corporation	`ComprehensiveIncomeNetOfTax`	$3.32M	USD	1 Quarter
Comprehensive income (loss) attributable to Vicor Corporation	`ComprehensiveIncomeNetOfTax`	$-5.27M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.