Vicor Corp. (Andover, MA), a developer of modular power components and complete power systems for communications and military electronics, reported its financial results for the second quarter ended June 30, 2005. Revenues for the quarter were $47,079,000, compared to $45,374,000 for the corresponding period a year ago. Revenues for the quarter included a non-recurring royalty payment under a settlement agreement of $2,500,000. Net income for the second quarter was $89,000, or $0.00 per diluted share, after inventory charges of $2,764,000 and a contingency fee of $250,000, compared to net income of $61,000, or $0.00 per diluted share, in the second quarter of 2004.
For the six months ended June 30, 2005, revenues increased to $90,259,000 from $87,895,000 for the same period of 2004. The company reported net income for the period of $128,000, or $0.00 per diluted share, compared to a net loss of $1,129,000, or $0.03 per diluted share in 2004. The book-to-bill ratio for the second quarter was 0.99:1. The backlog at the end of the second quarter was $39.9 million compared to $36.3 million at the end of 2004. Gross margin was 38.4 percent, compared to 38.3 percent in the second quarter of 2004.
