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10-Q Filing

VICOR CORP CIK: 751978 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001193125-19-128556
Period End Date 20190331
Filing Date 20190430
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance vicr-20190331.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $224.00K USD Point-in-time
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $131.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $42.68M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $70.56M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $66.61M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $44.23M USD Point-in-time
Accounts receivable, less allowance of $131 in 2019 and $224 in 2018 AccountsReceivableNetCurrent $43.67M USD Point-in-time
Accounts receivable, less allowance of $131 in 2019 and $224 in 2018 AccountsReceivableNetCurrent $41.70M USD Point-in-time
Inventories, net InventoryNet $47.37M USD Point-in-time
Inventories, net InventoryNet $51.59M USD Point-in-time
Other current assets OtherAssetsCurrent $3.88M USD Point-in-time
Other current assets OtherAssetsCurrent $3.46M USD Point-in-time
Total current assets AssetsCurrent $165.06M USD Point-in-time
Total current assets AssetsCurrent $163.79M USD Point-in-time
Long-term deferred tax assets, net DeferredTaxAssetsLiabilitiesNetNoncurrent $266.00K USD Point-in-time
Long-term deferred tax assets, net DeferredTaxAssetsLiabilitiesNetNoncurrent $265.00K USD Point-in-time
Long-term investments, net LongTermInvestments $2.53M USD Point-in-time
Long-term investments, net LongTermInvestments $2.55M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $55.64M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $50.43M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.76M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.79M USD Point-in-time
Total assets Assets $221.07M USD Point-in-time
Total assets Assets $173.63M USD Point-in-time
Total assets Assets $225.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $11.18M USD Point-in-time
Accounts payable AccountsPayableCurrent $16.15M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $9.41M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $10.66M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.17M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.63M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $1.68M USD Point-in-time
Sales allowances SalesAllowancesCurrent $548.00K USD Point-in-time
Sales allowances SalesAllowancesCurrent $617.00K USD Point-in-time
Accrued severance and other charges AccruedSeveranceCostAndOtherChargesCurrent $49.00K USD Point-in-time
Accrued severance and other charges AccruedSeveranceCostAndOtherChargesCurrent $234.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $182.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $710.00K USD Point-in-time
Deferred revenue DeferredRevenueCurrent $5.45M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $5.07M USD Point-in-time
Total current liabilities LiabilitiesCurrent $30.73M USD Point-in-time
Total current liabilities LiabilitiesCurrent $36.00M USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $232.00K USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $214.00K USD Point-in-time
Contingent consideration obligations BusinessCombinationContingentConsiderationLiabilityNoncurrent $408.00K USD Point-in-time
Contingent consideration obligations BusinessCombinationContingentConsiderationLiabilityNoncurrent $378.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $240.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $238.00K USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $2.75M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $102.00K USD Point-in-time
Total liabilities Liabilities $36.98M USD Point-in-time
Total liabilities Liabilities $34.31M USD Point-in-time
Commitments and contingencies (Note 12) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 12) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $193.46M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $195.80M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $129.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $133.29M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-436.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-394.00K 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 $183.66M USD Point-in-time
Total Vicor Corporation stockholders' equity StockholdersEquity $190.24M USD Point-in-time
Noncontrolling interest MinorityInterest $449.00K USD Point-in-time
Noncontrolling interest MinorityInterest $434.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.69M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $136.42M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $184.09M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $146.35M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $221.07M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $225.00M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $65.27M USD 1 Quarter
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $65.72M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $35.06M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $34.64M USD 1 Quarter
Gross margin GrossProfit $30.21M USD 1 Quarter
Gross margin GrossProfit $31.09M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $15.40M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $15.37M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $11.13M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $11.22M USD 1 Quarter
Total operating expenses OperatingExpenses $26.52M USD 1 Quarter
Total operating expenses OperatingExpenses $26.59M USD 1 Quarter
Income from operations OperatingIncomeLoss $3.69M USD 1 Quarter
Income from operations OperatingIncomeLoss $4.49M USD 1 Quarter
Total unrealized gains on available-for-sale securities, net MarketableSecuritiesUnrealizedGainLoss $20.00K USD 1 Quarter
Total unrealized gains on available-for-sale securities, net MarketableSecuritiesUnrealizedGainLoss $23.00K USD 1 Quarter
Less: portion of gains recognized in other comprehensive income OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $-19.00K USD 1 Quarter
Less: portion of gains recognized in other comprehensive income OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $-21.00K USD 1 Quarter
Net credit gains recognized in earnings AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $1.00K USD 1 Quarter
Net credit gains recognized in earnings AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $2.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $238.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $428.00K USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $239.00K USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $430.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.12M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.73M USD 1 Quarter
Less: Provision for income taxes IncomeTaxExpenseBenefit $426.00K USD 1 Quarter
Less: Provision for income taxes IncomeTaxExpenseBenefit $134.00K USD 1 Quarter
Consolidated net income ProfitLoss $4.31M USD 1 Quarter
Consolidated net income ProfitLoss $3.98M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $20.00K USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $39.00K USD 1 Quarter
Net income attributable to Vicor Corporation NetIncomeLoss $4.29M USD 1 Quarter
Net income attributable to Vicor Corporation NetIncomeLoss $3.94M USD 1 Quarter
Basic EarningsPerShareBasic $0.11 USD 1 Quarter
Basic EarningsPerShareBasic $0.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.10 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.10 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 39.48M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 40.23M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 40.17M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 41.03M shares 1 Quarter
Cash Flow Statement 49 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $4.31M USD 1 Quarter
Consolidated net income ProfitLoss $3.98M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.27M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.44M USD 1 Quarter
Stock-based compensation expense, net AllocatedShareBasedCompensationExpense $773.00K USD 1 Quarter
Stock-based compensation expense, net AllocatedShareBasedCompensationExpense $736.00K USD 1 Quarter
(Benefit) provision for doubtful accounts ProvisionBenefitForDoubtfulAccounts $32.00K USD 1 Quarter
(Benefit) provision for doubtful accounts ProvisionBenefitForDoubtfulAccounts $-88.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $5.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $2.00K USD 1 Quarter
Increase in other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $2.00K USD 1 Quarter
Decrease in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $-18.00K USD 1 Quarter
Decrease in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $-18.00K USD 1 Quarter
Gain on disposal of equipment GainLossOnSaleOfPropertyPlantEquipment $9.00K USD 1 Quarter
Gain on disposal of equipment GainLossOnSaleOfPropertyPlantEquipment $14.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-1.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-3.00K USD 1 Quarter
Credit gain on available-for-sale securities AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $1.00K USD 1 Quarter
Credit gain on available-for-sale securities AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $2.00K USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInOperatingCapital $7.80M USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInOperatingCapital $9.53M USD 1 Quarter
Net cash used for operating activities NetCashProvidedByUsedInOperatingActivities $-2.12M USD 1 Quarter
Net cash used for operating activities NetCashProvidedByUsedInOperatingActivities $-812.00K USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.32M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.86M USD 1 Quarter
Proceeds from sale of equipment ProceedsFromSaleOfPropertyPlantAndEquipment $14.00K USD 1 Quarter
Proceeds from sale of equipment ProceedsFromSaleOfPropertyPlantAndEquipment $9.00K USD 1 Quarter
Increase in other assets PaymentsForProceedsFromOtherInvestingActivities $8.00K USD 1 Quarter
Increase in other assets PaymentsForProceedsFromOtherInvestingActivities $104.00K USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-1.95M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-3.32M USD 1 Quarter
Proceeds from issuance of Common Stock ProceedsFromIssuanceOfCommonStock $1.28M USD 1 Quarter
Proceeds from issuance of Common Stock ProceedsFromIssuanceOfCommonStock $1.57M USD 1 Quarter
Payment of contingent consideration obligations PaymentOfContingentConsideration $30.00K USD 1 Quarter
Payment of contingent consideration obligations PaymentOfContingentConsideration $94.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.54M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.19M USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $-42.00K USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $17.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-3.94M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-1.55M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $42.68M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $70.56M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $66.61M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $44.23M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $42.68M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $70.56M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $66.61M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $44.23M USD Point-in-time
Stockholders Equity 21 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.69M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $136.42M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $184.09M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $146.35M USD Point-in-time
Sales of Common Stock StockIssuedDuringPeriodValueNewIssues $358.00K USD 1 Quarter
Sales of Common Stock StockIssuedDuringPeriodValueNewIssues $291.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $773.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $736.00K USD 1 Quarter
Issuances of stock through employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $927.00K USD 1 Quarter
Issuances of stock through employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.28M USD 1 Quarter
Cumulative effect of adoption of new accounting principle (Topic 606) CumulativeEffectOfAdoptionNewAccountingPrincipleInEquity $3.67M USD 1 Quarter
Net income ProfitLoss $4.31M USD 1 Quarter
Net income ProfitLoss $3.98M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-47.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $263.00K USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.25M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.26M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.69M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $136.42M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $184.09M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $146.35M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $4.31M USD 1 Quarter
Consolidated net income ProfitLoss $3.98M USD 1 Quarter
Foreign currency translation (losses) gains, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $242.00K USD 1 Quarter
Foreign currency translation (losses) gains, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-66.00K USD 1 Quarter
Unrealized gains on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $19.00K USD 1 Quarter
Unrealized gains on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $21.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $-47.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTax $263.00K USD 1 Quarter
Consolidated comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.25M USD 1 Quarter
Consolidated comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.26M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $15.00K USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $58.00K USD 1 Quarter
Comprehensive income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $4.19M USD 1 Quarter
Comprehensive income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $4.24M USD 1 Quarter

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

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