Vicor Corp Files 10-Q for Q2 2024
Ticker: VICR · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 751978
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
**VICOR CORP 10-Q FILED: Q2 2024 financials are in. Check for operational updates and segment performance.**
AI Summary
Vicor Corporation filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the company, which is involved in the manufacturing of electronic components. Specific financial figures and operational segments are presented within the report.
Why It Matters
This 10-Q filing provides investors and analysts with a detailed look into Vicor Corporation's financial health and operational performance during the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the nature of the electronics industry and potential market shifts can introduce medium-level risks.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20240731 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- VICOR CORP (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240731 (date) — Date of filing
- 25 FRONTAGE ROAD (location) — Company's business address
- ANDOVER (location) — Company's city
- MA (location) — Company's state
- 01810 (location) — Company's ZIP code
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 31, 2024.
What is Vicor Corporation's primary business address?
Vicor Corporation's primary business address is 25 Frontage Road, Andover, MA 01810.
What is the Standard Industrial Classification (SIC) code for Vicor Corp?
The SIC code for Vicor Corp is 3679, which corresponds to Electronic Components, NEC.
What fiscal year end does Vicor Corp observe?
Vicor Corp observes a fiscal year end of December 31.
Filing Stats: 4,378 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-07-31 16:15:01
Key Financial Figures
- $0.01 — registered Common Stock , par value $0.01 per share VICR The NASDAQ Stock Mar
Filing Documents
- vicr-20240630.htm (10-Q) — 2060KB
- vicr-ex31_1.htm (EX-31.1) — 19KB
- vicr-ex31_2.htm (EX-31.2) — 20KB
- vicr-ex32_1.htm (EX-32.1) — 6KB
- vicr-ex32_2.htm (EX-32.2) — 6KB
- 0000950170-24-088586.txt ( ) — 7410KB
- vicr-20240630.xsd (EX-101.SCH) — 720KB
- vicr-20240630_htm.xml (XML) — 1531KB
— Financial Information
Part I — Financial Information:
- Financial Statements (Unaudited)
Item 1 - Financial Statements (Unaudited) Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and six months ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Equity for the three and six months ended June 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 7
— Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 — Management's Discussion and Analysis of Financial Condition and Results of Operations 16
— Quantitative and Qualitative Disclosures About Market Risk
Item 3 — Quantitative and Qualitative Disclosures About Market Risk 25
— Controls and Procedures
Item 4 — Controls and Procedures 26
— Other Information
Part II — Other Information: 27
— Legal Proceedings
Item 1 — Legal Proceedings 27
— Risk Factors
Item 1A — Risk Factors 27
— Other Information
Item 5 — Other Information 27
— Exhibits
Item 6 — Exhibits 27
Signatures
Signatures 29 EX-31.1 SECTION 302 CERTIFICATION OF CEO EX-31.2 SECTION 302 CERTIFICATION OF CFO EX-32.1 SECTION 906 CERTIFICATION OF CEO EX-32.2 SECTION 906 CERTIFICATION OF CFO Table of Contents VICOR CORPORATION Pa rt I – Financial Information
– Fin ancial Statements
Item 1 – Fin ancial Statements Condensed Consoli dated Balance Sheets (In thousands, except share data) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 251,884 $ 242,219 Accounts receivable, net 54,857 52,631 Inventories 109,084 106,579 Other current assets 19,510 18,937 Total current assets 435,335 420,366 Long-term deferred tax assets, net 258 296 Long-term investment, net 2,600 2,530 Property, plant and equipment, net 156,689 157,689 Other assets 18,352 14,006 Total assets $ 613,234 $ 594,887 Liabilities and Equity Current liabilities: Accounts payable $ 12,269 $ 12,100 Accrued compensation and benefits 12,109 11,227 Accrued litigation 26,212 6,500 Accrued expenses 6,170 5,093 Short-term lease liabilities 1,757 1,864 Sales allowances 2,989 3,482 Income taxes payable 3,674 746 Short-term deferred revenue and customer prepayments 2,656 3,157 Total current liabilities 67,836 44,169 Long-term deferred revenue 300 1,020 Long-term income taxes payable 1,917 2,228 Long-term lease liabilities 5,724 6,364 Total liabilities 75,777 53,781 Commitments and contingencies (Note 10) Equity: Vicor Corporation stockholders' equity: Class B Common Stock: 10 votes per share, $ .01 par value, 14,000,000 shares authorized, 11,738,718 shares issued and outstanding in 2024; 11,743,218 shares issued and outstanding in 2023 118 118 Common Stock: 1 vote per share, $ .01 par value, 62,000,000 shares authorized 44,924,229 shares issued and 33,289,423 shares outstanding in 2024; 44,142,595 shares issued and 32,507,789 shares outstanding in 2023 451 445 Additional paid-in capital 396,175 383,832 Retained earnings 281,005 296,674 Accumulated other comprehensive loss ( 1,583 ) ( 1,273 ) Treasury stock at cost: 11,634,806 shares in 2024 and 202