$VICR
VICOR CORP

2017 Q1 Form 10-Q Financial Statement

#000119312517146079 Filed on April 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $54.46M $46.03M
YoY Change 18.33% -28.1%
Cost Of Revenue $30.81M $26.71M
YoY Change 15.35% -23.96%
Gross Profit $23.65M $19.32M
YoY Change 22.45% -33.14%
Gross Profit Margin 43.43% 41.97%
Selling, General & Admin $14.02M $14.02M
YoY Change 0.05% -5.69%
% of Gross Profit 59.29% 72.56%
Research & Development $11.01M $10.73M
YoY Change 2.59% 2.98%
% of Gross Profit 46.54% 55.54%
Depreciation & Amortization $2.157M $2.195M
YoY Change -1.73% -8.66%
% of Gross Profit 9.12% 11.36%
Operating Expenses $25.03M $24.75M
YoY Change 1.15% -2.12%
Operating Profit -$1.378M -$5.429M
YoY Change -74.62% -250.39%
Interest Expense $140.0K $100.0K
YoY Change 40.0% -211.11%
% of Operating Profit
Other Income/Expense, Net $325.0K $75.00K
YoY Change 333.33% -358.62%
Pretax Income -$1.053M -$5.354M
YoY Change -80.33% -249.51%
Income Tax -$99.00K $22.00K
% Of Pretax Income
Net Earnings -$974.0K -$5.351M
YoY Change -81.8% -258.74%
Net Earnings / Revenue -1.79% -11.63%
Basic Earnings Per Share -$0.02 -$0.14
Diluted Earnings Per Share -$0.02 -$0.14
COMMON SHARES
Basic Shares Outstanding 39.07M shares 38.79M shares
Diluted Shares Outstanding 39.07M shares 38.79M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.80M $59.70M
YoY Change -11.56% 0.51%
Cash & Equivalents $52.83M $59.71M
Short-Term Investments
Other Short-Term Assets $3.446M $3.048M
YoY Change 13.06% -4.15%
Inventory $27.43M $24.15M
Prepaid Expenses
Receivables $29.98M $23.35M
Other Receivables $0.00 $0.00
Total Short-Term Assets $113.7M $110.3M
YoY Change 3.1% -8.28%
LONG-TERM ASSETS
Property, Plant & Equipment $38.10M $37.18M
YoY Change 2.48% 1.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.500M $2.600M
YoY Change -3.85% -10.34%
Other Assets $2.226M $1.908M
YoY Change 16.67% 12.24%
Total Long-Term Assets $42.89M $41.65M
YoY Change 2.97% 1.44%
TOTAL ASSETS
Total Short-Term Assets $113.7M $110.3M
Total Long-Term Assets $42.89M $41.65M
Total Assets $156.6M $151.9M
YoY Change 3.07% -5.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.090M $8.232M
YoY Change 10.42% -18.58%
Accrued Expenses $2.104M $2.220M
YoY Change -5.23% 0.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.50M $20.60M
YoY Change 18.96% -16.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $64.00K $1.000M
YoY Change -93.6% -28.57%
Total Long-Term Liabilities $64.00K $1.000M
YoY Change -93.6% -28.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.50M $20.60M
Total Long-Term Liabilities $64.00K $1.000M
Total Liabilities $25.33M $21.57M
YoY Change 17.39% -18.46%
SHAREHOLDERS EQUITY
Retained Earnings $92.46M $94.33M
YoY Change -1.98% -3.87%
Common Stock $177.8M $175.0M
YoY Change 1.58% 1.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $138.9M $138.9M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $131.0M $130.1M
YoY Change
Total Liabilities & Shareholders Equity $156.6M $151.9M
YoY Change 3.07% -5.81%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$974.0K -$5.351M
YoY Change -81.8% -258.74%
Depreciation, Depletion And Amortization $2.157M $2.195M
YoY Change -1.73% -8.66%
Cash From Operating Activities -$1.350M -$830.0K
YoY Change 62.65% -116.37%
INVESTING ACTIVITIES
Capital Expenditures $2.648M $1.887M
YoY Change 40.33% 28.45%
Acquisitions
YoY Change
Other Investing Activities $65.00K $214.0K
YoY Change -69.63% 229.23%
Cash From Investing Activities -$2.710M -$2.100M
YoY Change 29.05% 70.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $760.0K $19.00K
YoY Change 3900.0% -93.87%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 720.0K -350.0K
YoY Change -305.71% -212.9%
NET CHANGE
Cash From Operating Activities -1.350M -830.0K
Cash From Investing Activities -2.710M -2.100M
Cash From Financing Activities 720.0K -350.0K
Net Change In Cash -3.340M -3.280M
YoY Change 1.83% -179.04%
FREE CASH FLOW
Cash From Operating Activities -$1.350M -$830.0K
Capital Expenditures $2.648M $1.887M
Free Cash Flow -$3.998M -$2.717M
YoY Change 47.15% -175.45%

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173000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
196000
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5429000
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-353000
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
23000
CY2016Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
2000
CY2016Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
1000
CY2016Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-35000
CY2016Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
27000
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-23000
CY2016Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
122000
CY2016Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-2141000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22000
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-834000
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1887000
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19000
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-5180000
CY2016Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
26711000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38794000 shares
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14016000
CY2016Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
68000
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38794000 shares
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10729000
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-5376000
CY2016Q1 vicr Revisions Of Estimated Obligations
RevisionsOfEstimatedObligations
50000
CY2016Q1 vicr Provision Benefit For Doubtful Accounts
ProvisionBenefitForDoubtfulAccounts
-28000
CY2016Q1 vicr Allocated Share Based Compensation Expenses And Adjustments
AllocatedShareBasedCompensationExpensesAndAdjustments
329000

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