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10-Q Filing

VICOR CORP CIK: 751978 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001193125-22-142308
Period End Date 20220331
Filing Date 20220505
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance d344090d10q_htm.xml
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $191.05M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $182.42M USD Point-in-time
Short-term investments ShortTermInvestments $20.00M USD Point-in-time
Short-term investments ShortTermInvestments $45.22M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $52.66M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $55.10M USD Point-in-time
Treasury stock, shares TreasuryStockShares 11.63M shares Point-in-time
Inventories, net InventoryNet $73.86M USD Point-in-time
Inventories, net InventoryNet $67.32M USD Point-in-time
Treasury stock, shares TreasuryStockShares 11.63M shares Point-in-time
Other current assets OtherAssetsCurrent $7.02M USD Point-in-time
Other current assets OtherAssetsCurrent $6.71M USD Point-in-time
Total current assets AssetsCurrent $344.59M USD Point-in-time
Total current assets AssetsCurrent $356.76M USD Point-in-time
Long-term deferred tax assets, net DeferredIncomeTaxAssetsNet $208.00K USD Point-in-time
Long-term deferred tax assets, net DeferredIncomeTaxAssetsNet $206.00K USD Point-in-time
Long-term investment, net LongTermInvestments $2.64M USD Point-in-time
Long-term investment, net LongTermInvestments $2.54M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $115.97M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $140.49M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.62M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.52M USD Point-in-time
Total assets Assets $477.20M USD Point-in-time
Total assets Assets $489.35M USD Point-in-time
Accounts payable AccountsPayableCurrent $21.19M USD Point-in-time
Accounts payable AccountsPayableCurrent $22.57M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $12.59M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $12.66M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $3.17M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $4.16M USD Point-in-time
Short-term lease liabilities OperatingLeaseLiabilityCurrent $1.21M USD Point-in-time
Short-term lease liabilities OperatingLeaseLiabilityCurrent $1.55M USD Point-in-time
Accrued severance and other charges AccruedSeveranceAndOtherCharges $-93.00K USD Point-in-time
Accrued severance and other charges AccruedSeveranceAndOtherCharges - USD Point-in-time
Sales allowances SalesAllowancesCurrent $1.60M USD Point-in-time
Sales allowances SalesAllowancesCurrent $1.46M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $66.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $21.00K USD Point-in-time
Short-term deferred revenue and customer prepayments DeferredRevenueCurrent $7.91M USD Point-in-time
Short-term deferred revenue and customer prepayments DeferredRevenueCurrent $8.38M USD Point-in-time
Total current liabilities LiabilitiesCurrent $49.56M USD Point-in-time
Total current liabilities LiabilitiesCurrent $49.09M USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $413.00K USD Point-in-time
Long-term deferred revenue DeferredRevenueNoncurrent $332.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $569.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $574.00K USD Point-in-time
Long-term lease liabilities OperatingLeaseLiabilityNoncurrent $6.69M USD Point-in-time
Long-term lease liabilities OperatingLeaseLiabilityNoncurrent $3.23M USD Point-in-time
Total liabilities Liabilities $53.30M USD Point-in-time
Total liabilities Liabilities $57.16M 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 $349.47M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $345.66M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $222.63M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $217.63M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.33M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.82M USD Point-in-time
Treasury stock at cost: 11,634,806 shares in 2022 and 2021 TreasuryStockValue $138.93M USD Point-in-time
Treasury stock at cost: 11,634,806 shares in 2022 and 2021 TreasuryStockValue $138.93M USD Point-in-time
Total Vicor Corporation stockholders' equity StockholdersEquity $431.91M USD Point-in-time
Total Vicor Corporation stockholders' equity StockholdersEquity $423.60M USD Point-in-time
Noncontrolling interest MinorityInterest $283.00K USD Point-in-time
Noncontrolling interest MinorityInterest $306.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $351.15M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $423.90M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $432.19M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $370.48M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $489.35M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $477.20M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $88.80M USD 1 Quarter
Net revenues RevenueFromContractWithCustomerExcludingAssessedTax $88.28M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $44.10M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $50.68M USD 1 Quarter
Gross margin GrossProfit $37.60M USD 1 Quarter
Gross margin GrossProfit $44.70M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $18.57M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $16.95M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $14.25M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $13.03M USD 1 Quarter
Total operating expenses OperatingExpenses $32.82M USD 1 Quarter
Total operating expenses OperatingExpenses $29.98M USD 1 Quarter
Income from operations OperatingIncomeLoss $14.72M USD 1 Quarter
Income from operations OperatingIncomeLoss $4.78M USD 1 Quarter
Total unrealized (losses) gains on available-for-sale securities, net MarketableSecuritiesUnrealizedGainLoss $24.00K USD 1 Quarter
Total unrealized (losses) gains on available-for-sale securities, net MarketableSecuritiesUnrealizedGainLoss $-103.00K USD 1 Quarter
Less: portion of losses (gains) recognized in other comprehensive income OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $-23.00K USD 1 Quarter
Less: portion of losses (gains) recognized in other comprehensive income OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $104.00K USD 1 Quarter
Net credit gains recognized in earnings AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss $1.00K USD 1 Quarter
Net credit gains recognized in earnings AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss $1.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $161.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $231.00K USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $162.00K USD 1 Quarter
Total other income (expense), net NonoperatingIncomeExpense $232.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $14.95M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.94M USD 1 Quarter
Benefit for income taxes IncomeTaxExpenseBenefit $-143.00K USD 1 Quarter
Benefit for income taxes IncomeTaxExpenseBenefit $-48.00K USD 1 Quarter
Consolidated net income ProfitLoss $4.99M USD 1 Quarter
Consolidated net income ProfitLoss $15.10M USD 1 Quarter
Less: Net (loss) income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-9.00K USD 1 Quarter
Less: Net (loss) income attributable to noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $3.00K USD 1 Quarter
Net income attributable to Vicor Corporation NetIncomeLoss $15.09M USD 1 Quarter
Net income attributable to Vicor Corporation NetIncomeLoss $5.00M USD 1 Quarter
Basic EarningsPerShareBasic $0.11 USD 1 Quarter
Basic EarningsPerShareBasic $0.35 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.11 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 43.45M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 43.95M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 44.95M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 44.84M shares 1 Quarter
Cash Flow Statement 46 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $4.99M USD 1 Quarter
Consolidated net income ProfitLoss $15.10M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.81M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $3.30M USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $1.99M USD 1 Quarter
Stock-based compensation expense AllocatedShareBasedCompensationExpense $1.57M USD 1 Quarter
Decrease in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $-80.00K USD 1 Quarter
Decrease in long-term deferred revenue IncreaseDecreaseInDeferredRevenue1 $-81.00K USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $-62.00K USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $26.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $5.00K USD 1 Quarter
Increase in long-term income taxes payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $5.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $2.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $2.00K USD 1 Quarter
Credit gain on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss $1.00K USD 1 Quarter
Credit gain on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentLoss $1.00K USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInCurrentAssetsAndLiabilities $5.68M USD 1 Quarter
Change in current assets and liabilities, net IncreaseDecreaseInCurrentAssetsAndLiabilities $1.60M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $4.58M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $17.77M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments - USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $50.71M USD 1 Quarter
Sales or maturities of short-term investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $25.00M USD 1 Quarter
Sales or maturities of short-term investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $5.00M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $9.26M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $22.68M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $2.32M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-54.97M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromStockPlans $1.81M USD 1 Quarter
Proceeds from employee stock plans ProceedsFromStockPlans $3.05M USD 1 Quarter
Payment of contingent consideration obligations PaymentOfContingentConsideration - USD 1 Quarter
Payment of contingent consideration obligations PaymentOfContingentConsideration $46.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.81M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $3.00M USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $-80.00K USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashAndCashEquivalents $-138.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-34.33M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $8.63M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $161.74M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $182.42M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $127.41M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $191.05M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $161.74M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $182.42M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $127.41M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $191.05M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $351.15M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $423.90M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $432.19M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $370.48M USD Point-in-time
Issuance of Common Stock under employee stock plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $1.81M USD 1 Quarter
Issuance of Common Stock under employee stock plans StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $3.05M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.57M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.99M USD 1 Quarter
Net income (loss) ProfitLoss $4.99M USD 1 Quarter
Net income (loss) ProfitLoss $15.10M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-510.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-389.00K USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $14.71M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.48M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $351.15M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $423.90M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $432.19M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $370.48M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $4.99M USD 1 Quarter
Consolidated net income ProfitLoss $15.10M USD 1 Quarter
Recognized income tax benefit (provision) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Recognized income tax benefit (provision) OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Foreign currency translation losses, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-194.00K USD 1 Quarter
Foreign currency translation losses, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-261.00K USD 1 Quarter
Unrealized losses on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-316.00K USD 1 Quarter
Unrealized losses on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-128.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-510.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-389.00K USD 1 Quarter
Consolidated comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $14.71M USD 1 Quarter
Consolidated comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.48M USD 1 Quarter
Less: Comprehensive loss attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-23.00K USD 1 Quarter
Less: Comprehensive loss attributable to noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-17.00K USD 1 Quarter
Comprehensive income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $4.50M USD 1 Quarter
Comprehensive income attributable to Vicor Corporation ComprehensiveIncomeNetOfTax $14.72M USD 1 Quarter

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

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