Vicor Reports Third-Quarter 2003 Results

Vicor Corp. (Andover, MA) announced its financial results for the quarter ended September 30, 2003. Revenues for the quarter decreased to $35,877,000 compared with $39,503,000 for the corresponding period a year ago. The company reported a net loss of $7,120,000 compared with a net loss of $2,625,000 in 2002, and a diluted loss per share of $0.17 compared with a diluted loss per share of $0.06 in 2002.

For the nine months ended September 30, 2003, revenues increased to $112,310,000 from $110,954,000 for the same period of 2002. The company reported a net loss for the period of $19,707,000 compared with a net loss of $12,408,000 in 2002, and a diluted loss per share of $0.47 compared with a diluted loss per share of $0.29 in 2002.

In the third quarter, revenues decreased by 9.2% over the third quarter of 2002, and decreased by 7.3% on a sequential basis from the second quarter of 2003. The book-to-bill for the third quarter was 1.05:1 as compared with 0.98:1 in the second quarter of 2003. The company ended the third quarter with approximately $33.4 million in backlog compared to $31.9 million at the end of 2002.