Vicor Corp. (Andover, MA) announced its financial results for the quarter ended June 30, 2003. Revenues for the quarter were $38,693,000 compared with $36,831,000 for the corresponding period a year ago. The company reported a loss before taxes of $5,729,000 compared with a loss before taxes of $7,642,000 in 2002. The company reported a net loss for the quarter of $5,958,000 compared with a net loss of $4,852,000 in 2002, and a diluted loss per share of $0.14 compared with a diluted loss per share of $0.11 in 2002.
For the six months ended June 30, 2003, revenues increased to $76,433,000 from $71,451,000 for the same period of 2002. The company reported a loss before taxes of $12,103,000 compared with a loss before taxes of $15,407,000 in 2002. The company reported a net loss for the period of $12,587,000 compared with a net loss of $9,783,000 in 2002, and a diluted loss per share of $0.30 compared with a diluted loss per share of $0.23 in 2002.
In the second quarter, revenues increased by 5.1% over the second quarter of 2002, and increased by 2.5% on a sequential basis from the first quarter of 2003. The company finished the second quarter with approximately $31.8 million in backlog compared to $31.9 million at the end of 2002. In the second quarter, gross margin increased to 27.2%, compared with 23.6% in the second quarter of 2002. Gross margin increased by 3.6% sequentially from the first quarter of 2003.
