Vicor Announces Second-Quarter 2004 Results

Vicor Corp. (Andover, MA) announced its financial results for the quarter ended June 30, 2004. Revenues for the quarter increased to $45,374,000 compared with $38,693,000 for the corresponding period a year ago. The company reported net income for the quarter of $61,000 compared with a net loss of $5,958,000 in the corresponding period of 2003, and a diluted net income per share of $0.00 compared with a diluted loss per share of $0.14 in the corresponding period of 2003.

For the six months ended June 30, 2004, revenues increased to $87,895,000 from $76,433,000 for the same period of 2003. The company reported a net loss for the period of $1,129,000 compared with a net loss of $12,587,000 in 2003, and a diluted loss per share of $0.03 compared with a diluted loss per share of $0.30 in 2003.

In the second quarter, revenues increased by 17.3% from the second quarter of 2003, and increased by 6.7% on a sequential basis from the first quarter of 2004. The book-to-bill ratio for the second quarter was 0.97:1 as compared with 0.98:1 in the second quarter of 2003 and 1.13:1 in the first quarter of 2004. The company ended the second quarter of 2004 with approximately $41.2 million in backlog compared to $42.7 million at the end of the first quarter, and $37 million at the end of 2003.