10-Q Filing

VICOR CORP CIK: 751978 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-146079`
Period End Date	20170331
Filing Date	20170428
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	vicr-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 42 Cash Flow Statement 47 Comprehensive Income 16

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$153.00K	USD	Point-in-time
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$161.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.83M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.71M	USD	Point-in-time
Accounts receivable, less allowance of $161 in 2017 and $153 in 2016	`AccountsReceivableNetCurrent`	$25.22M	USD	Point-in-time
Accounts receivable, less allowance of $161 in 2017 and $153 in 2016	`AccountsReceivableNetCurrent`	$29.98M	USD	Point-in-time
Inventories, net	`InventoryNet`	$27.14M	USD	Point-in-time
Inventories, net	`InventoryNet`	$27.43M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.45M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$111.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$113.68M	USD	Point-in-time
Long-term deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$38.00K	USD	Point-in-time
Long-term deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$39.00K	USD	Point-in-time
Long-term investments, net	`LongTermInvestments`	$2.53M	USD	Point-in-time
Long-term investments, net	`LongTermInvestments`	$2.51M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$37.57M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$38.10M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.23M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.17M	USD	Point-in-time
Total assets	`Assets`	$151.91M	USD	Point-in-time
Total assets	`Assets`	$154.07M	USD	Point-in-time
Total assets	`Assets`	$156.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.09M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$8.68M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$8.96M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.18M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.10M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$104.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$92.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.40M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$4.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.23M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$356.00K	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$374.00K	USD	Point-in-time
Contingent consideration obligations	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$208.00K	USD	Point-in-time
Contingent consideration obligations	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$253.00K	USD	Point-in-time
Long-term income taxes payable	`AccruedIncomeTaxesNoncurrent`	$196.00K	USD	Point-in-time
Long-term income taxes payable	`AccruedIncomeTaxesNoncurrent`	$198.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$64.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$23.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.33M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock	`CommonStockValue`	$397.00K	USD	Point-in-time
Common Stock	`CommonStockValue`	$398.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$177.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$176.34M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$92.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$93.44M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-561.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-413.00K	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`	$130.81M	USD	Point-in-time
Total Vicor Corporation stockholders' equity	`StockholdersEquity`	$131.01M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$239.00K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$208.00K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$131.25M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$131.02M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$154.07M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$156.57M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$54.46M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$46.03M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$30.81M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$26.71M	USD	1 Quarter
Gross margin	`GrossProfit`	$23.65M	USD	1 Quarter
Gross margin	`GrossProfit`	$19.32M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.02M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.02M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.01M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.73M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.75M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.43M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.38M	USD	1 Quarter
Total unrealized gains on available-for-sale securities, net	`MarketableSecuritiesUnrealizedGainLoss`	$27.00K	USD	1 Quarter
Total unrealized gains on available-for-sale securities, net	`MarketableSecuritiesUnrealizedGainLoss`	$18.00K	USD	1 Quarter
Portion of gains recognized in other comprehensive income (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-15.00K	USD	1 Quarter
Portion of gains recognized in other comprehensive income (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-23.00K	USD	1 Quarter
Net credit gains recognized in earnings	`AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments`	$3.00K	USD	1 Quarter
Net credit gains recognized in earnings	`AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments`	$4.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$71.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$322.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$325.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$75.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.05M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.35M	USD	1 Quarter
Less: (Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-99.00K	USD	1 Quarter
Less: (Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$22.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-954.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-5.38M	USD	1 Quarter
Less: Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$20.00K	USD	1 Quarter
Less: Net income (loss) attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-25.00K	USD	1 Quarter
Net loss attributable to Vicor Corporation	`NetIncomeLoss`	$-5.35M	USD	1 Quarter
Net loss attributable to Vicor Corporation	`NetIncomeLoss`	$-974.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.79M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.07M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.79M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.07M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Consolidated net loss	`ProfitLoss`	$-954.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-5.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.16M	USD	1 Quarter
Stock-based compensation expense, net	`AllocatedShareBasedCompensationExpense`	$254.00K	USD	1 Quarter
Stock-based compensation expense, net	`AllocatedShareBasedCompensationExpense`	$329.00K	USD	1 Quarter
Increase in other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$64.00K	USD	1 Quarter
Decrease in long-term deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-35.00K	USD	1 Quarter
Decrease in long-term deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-18.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-55.00K	USD	1 Quarter
Provision (benefit) for doubtful accounts	`ProvisionBenefitForDoubtfulAccounts`	$-28.00K	USD	1 Quarter
Provision (benefit) for doubtful accounts	`ProvisionBenefitForDoubtfulAccounts`	$8.00K	USD	1 Quarter
Gain on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$2.00K	USD	1 Quarter
Gain on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$2.00K	USD	1 Quarter
Credit gain on available-for-sale securities	`AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments`	$3.00K	USD	1 Quarter
Credit gain on available-for-sale securities	`AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments`	$4.00K	USD	1 Quarter
Increase in long-term income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$2.00K	USD	1 Quarter
Increase in long-term income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.00K	USD	1 Quarter
Change in current assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$-2.14M	USD	1 Quarter
Change in current assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$2.85M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.35M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-834.00K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.89M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.65M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Increase in other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$214.00K	USD	1 Quarter
Increase in other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$65.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.10M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.71M	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$760.00K	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$19.00K	USD	1 Quarter
Payment of contingent consideration obligations	`PaymentOfContingentConsideration`	$45.00K	USD	1 Quarter
Acquisition of noncontrolling interest	`PaymentsToAcquireAdditionalInterestInSubsidiaries`	$372.00K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$715.00K	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-353.00K	USD	1 Quarter
Effect of foreign exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$16.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.27M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.34M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.83M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.17M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$59.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$62.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.83M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.17M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$59.71M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Recognized income tax benefit (provision)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-954.00K	USD	1 Quarter
Consolidated net loss	`ProfitLoss`	$-5.38M	USD	1 Quarter
Recognized income tax benefit (provision)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
Foreign currency translation gains, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$173.00K	USD	1 Quarter
Foreign currency translation gains, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$144.00K	USD	1 Quarter
Unrealized gains on available-for-sale securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$23.00K	USD	1 Quarter
Unrealized gains on available-for-sale securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$15.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$196.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$159.00K	USD	1 Quarter
Consolidated comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-5.18M	USD	1 Quarter
Consolidated comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-795.00K	USD	1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$31.00K	USD	1 Quarter
Less: Comprehensive income (loss) attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-12.00K	USD	1 Quarter
Comprehensive loss attributable to Vicor Corporation	`ComprehensiveIncomeNetOfTax`	$-826.00K	USD	1 Quarter
Comprehensive loss attributable to Vicor Corporation	`ComprehensiveIncomeNetOfTax`	$-5.17M	USD	1 Quarter

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