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10-Q Filing

VICOR CORP CIK: 751978 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001193125-20-132231
Period End Date 20200331
Filing Date 20200504
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance d900762d10q_htm.xml
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $102.00K USD Point-in-time
Accounts receivable, allowance AllowanceForDoubtfulAccountsReceivableCurrent $59.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $82.75M 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 $84.67M USD Point-in-time
Accounts receivable, less allowance of $102 in 2020 and $59 in 2019 AccountsReceivableNetCurrent $38.12M USD Point-in-time
Accounts receivable, less allowance of $102 in 2020 and $59 in 2019 AccountsReceivableNetCurrent $41.28M USD Point-in-time
Inventories, net InventoryNet $49.19M USD Point-in-time
Inventories, net InventoryNet $53.35M USD Point-in-time
Other current assets OtherAssetsCurrent $7.81M USD Point-in-time
Other current assets OtherAssetsCurrent $7.10M USD Point-in-time
Total current assets AssetsCurrent $185.19M USD Point-in-time
Total current assets AssetsCurrent $179.07M USD Point-in-time
Long-term deferred tax assets DeferredTaxAssetsLiabilitiesNetNoncurrent $206.00K USD Point-in-time
Long-term deferred tax assets DeferredTaxAssetsLiabilitiesNetNoncurrent $205.00K USD Point-in-time
Long-term investment, net LongTermInvestments $2.56M USD Point-in-time
Long-term investment, net LongTermInvestments $2.51M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $56.95M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $56.88M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.99M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.89M USD Point-in-time
Total assets Assets $246.72M USD Point-in-time
Total assets Assets $240.73M USD Point-in-time
Accounts payable AccountsPayableCurrent $13.44M USD Point-in-time
Accounts payable AccountsPayableCurrent $9.01M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $10.41M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $10.08M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.76M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.69M USD Point-in-time
Sales allowances SalesAllowancesCurrent $741.00K USD Point-in-time
Sales allowances SalesAllowancesCurrent $781.00K USD Point-in-time
Short-term lease liabilities OperatingLeaseLiabilityCurrent $1.37M USD Point-in-time
Short-term lease liabilities OperatingLeaseLiabilityCurrent $1.52M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $34.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $57.00K USD Point-in-time
Short-term deferred revenue and customer prepayments DeferredRevenueCurrent $5.51M USD Point-in-time
Short-term deferred revenue and customer prepayments DeferredRevenueCurrent $6.75M USD Point-in-time
Total current liabilities LiabilitiesCurrent $35.22M USD Point-in-time
Total current liabilities LiabilitiesCurrent $29.93M USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $974.00K USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $1.05M USD Point-in-time
Contingent consideration obligations BusinessCombinationContingentConsiderationLiabilityNoncurrent $451.00K USD Point-in-time
Contingent consideration obligations BusinessCombinationContingentConsiderationLiabilityNoncurrent $362.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $567.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $571.00K USD Point-in-time
Long-term lease liabilities OperatingLeaseLiabilityNoncurrent $2.60M USD Point-in-time
Long-term lease liabilities OperatingLeaseLiabilityNoncurrent $2.85M USD Point-in-time
Total liabilities Liabilities $39.73M USD Point-in-time
Total liabilities Liabilities $34.86M USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 10) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $204.02M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $201.25M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $143.10M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $141.36M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-300.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-383.00K 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 $206.68M USD Point-in-time
Total Vicor Corporation stockholders' equity StockholdersEquity $205.56M USD Point-in-time
Noncontrolling interest MinorityInterest $308.00K USD Point-in-time
Noncontrolling interest MinorityInterest $316.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $184.09M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $207.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.69M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $205.87M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $246.72M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $240.73M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $63.40M USD 1 Quarter
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $65.72M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $36.07M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $34.64M USD 1 Quarter
Gross margin GrossProfit $31.09M USD 1 Quarter
Gross margin GrossProfit $27.33M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $16.37M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $15.37M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $11.22M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $13.34M USD 1 Quarter
Total operating expenses OperatingExpenses $29.70M USD 1 Quarter
Total operating expenses OperatingExpenses $26.59M USD 1 Quarter
(Loss) income from operations OperatingIncomeLoss $4.49M USD 1 Quarter
(Loss) income from operations OperatingIncomeLoss $-2.37M 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 $47.00K 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 $-46.00K USD 1 Quarter
Net credit gains recognized in earnings AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $1.00K USD 1 Quarter
Net credit gains recognized in earnings AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $1.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $147.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $238.00K USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $148.00K USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $239.00K USD 1 Quarter
(Loss) income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.23M USD 1 Quarter
(Loss) income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.73M USD 1 Quarter
Less: (Benefit) provision for income taxes IncomeTaxExpenseBenefit $426.00K USD 1 Quarter
Less: (Benefit) provision for income taxes IncomeTaxExpenseBenefit $-494.00K USD 1 Quarter
Consolidated net (loss) income ProfitLoss $4.31M USD 1 Quarter
Consolidated net (loss) income ProfitLoss $-1.73M USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $20.00K USD 1 Quarter
Less: Net income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $4.00K USD 1 Quarter
Net (loss) income attributable to Vicor Corporation NetIncomeLoss $4.29M USD 1 Quarter
Net (loss) income attributable to Vicor Corporation NetIncomeLoss $-1.74M USD 1 Quarter
Basic EarningsPerShareBasic $-0.04 USD 1 Quarter
Basic EarningsPerShareBasic $0.11 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.04 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.10 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 40.63M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 40.23M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 40.63M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 41.03M shares 1 Quarter
Cash Flow Statement 46 line items
Line Item Tag Value Unit Period
Consolidated net (loss) income ProfitLoss $4.31M USD 1 Quarter
Consolidated net (loss) income ProfitLoss $-1.73M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.71M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.44M USD 1 Quarter
Stock-based compensation expense, net AllocatedShareBasedCompensationExpense $710.00K USD 1 Quarter
Stock-based compensation expense, net AllocatedShareBasedCompensationExpense $773.00K USD 1 Quarter
Provision (benefit) for doubtful accounts ProvisionBenefitForDoubtfulAccounts $43.00K USD 1 Quarter
Provision (benefit) for doubtful accounts ProvisionBenefitForDoubtfulAccounts $-88.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $2.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $4.00K USD 1 Quarter
Decrease in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $-18.00K USD 1 Quarter
Decrease in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $-80.00K USD 1 Quarter
Gain on disposal of equipment GainLossOnSaleOfPropertyPlantEquipment $9.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-1.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-1.00K USD 1 Quarter
Credit gain on available-for-sale securities AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $1.00K USD 1 Quarter
Credit gain on available-for-sale securities AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $1.00K USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInCurrentAssetsAndLiabilities $9.53M USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInCurrentAssetsAndLiabilities $2.64M USD 1 Quarter
Net cash used by operating activities NetCashProvidedByUsedInOperatingActivities $-984.00K USD 1 Quarter
Net cash used by operating activities NetCashProvidedByUsedInOperatingActivities $-2.12M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.00M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.32M USD 1 Quarter
Proceeds from sale of equipment ProceedsFromSaleOfPropertyPlantAndEquipment $9.00K USD 1 Quarter
Decrease in other assets PaymentsForProceedsFromOtherInvestingActivities $8.00K USD 1 Quarter
Decrease in other assets PaymentsForProceedsFromOtherInvestingActivities $-75.00K USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-2.92M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-3.32M USD 1 Quarter
Proceeds from issuance of Common Stock ProceedsFromIssuanceOfCommonStock $1.57M USD 1 Quarter
Proceeds from issuance of Common Stock ProceedsFromIssuanceOfCommonStock $2.06M USD 1 Quarter
Payment of contingent consideration obligations PaymentOfContingentConsideration $30.00K USD 1 Quarter
Payment of contingent consideration obligations PaymentOfContingentConsideration $89.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.54M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.97M USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $-42.00K USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $19.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-3.94M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.92M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $82.75M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $70.56M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $66.61M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $84.67M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $82.75M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $70.56M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $66.61M USD Point-in-time
Cash and cash equivalents at end of year CashAndCashEquivalentsAtCarryingValue $84.67M USD Point-in-time
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $184.09M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $207.00M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.69M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $205.87M USD Point-in-time
Sales of Common Stock StockIssuedDuringPeriodValueNewIssues $789.00K 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 $710.00K USD 1 Quarter
Issuances of stock through employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.28M USD 1 Quarter
Issuances of stock through employee stock purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.27M USD 1 Quarter
Net income ProfitLoss $4.31M USD 1 Quarter
Net income ProfitLoss $-1.73M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-47.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $87.00K USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.26M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-1.64M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $184.09M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $207.00M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $190.69M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $205.87M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Consolidated net (loss) income ProfitLoss $4.31M USD 1 Quarter
Recognized income tax benefit (provision) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Consolidated net (loss) income ProfitLoss $-1.73M USD 1 Quarter
Recognized income tax benefit (provision) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Foreign currency translation gains (losses), net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $46.00K USD 1 Quarter
Foreign currency translation gains (losses), 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 $41.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-47.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $87.00K USD 1 Quarter
Consolidated comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.26M USD 1 Quarter
Consolidated comprehensive (loss) income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-1.64M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $15.00K USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $8.00K USD 1 Quarter
Comprehensive (loss) income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $4.24M USD 1 Quarter
Comprehensive (loss) income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $-1.65M USD 1 Quarter

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

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