Vicor ( NASDAQ: VICR ) shares popped 8% pre-market on Friday following the power system company's better-than-expected Q2 report that came out a day before.
The company generated net income of $10.6M, or $0.24 per diluted share, on revenues of $102.2M that grew 7.1% Y/Y.
Commenting on the results, CEO Patrizio Vinciarelli stated, "Q2 revenues growth included 28% sequential growth in Advanced Products. To better serve our customers, our Operations team had to overcome component shortages and outsourced capacity bottlenecks, which precluded commensurate improvements in product margins."
Gross margin decreased to $46.8M, compared to $49.9M for the corresponding period a year ago, but increased sequentially from $37.6M in the first quarter of 2022.
Cash flow from operations fell from $12.3M last year to $10.8M. Meanwhile, capex more than doubled to $14.2M from $6.5M for the corresponding period a year ago.
The company held cash, cash equivalents, and short-term investments of ~$207.6M as of June 30, 2022, down 1.6% sequentially.
"With the completion of Andover facility and implementation of the vertical integration, Vicor is on a growth path, " said SA contributor Samuel Eneh in a bullish analysis on the stock.
The stock has slid ~49% over the past year
SA Quant system rates Vicor ( VICR ) as strong sell , which is in contrast to SA Authors' Rating and Wall St. Analysts' Rating of buy .
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Vicor stock gains on Q2 earnings topper