Vicor (VICR) Climbs 25% as Profits, Revenues Skyrocket

Vicor Corp. (NASDAQ:VICR) is one of the 10 Stocks With Double-, Triple-Digit Returns.

Vicor Corp. saw its share prices jump by 25.4 percent week-on-week, as investors cheered its stellar earnings performance in the first quarter of the year, with net income soaring by 713 percent and revenues climbing by double-digits.

In an updated report earlier in the week, Vicor Corp. (NASDAQ:VICR) said that it grew its attributable net income to $20.66 million from $2.54 million in the same period last year, primarily driven by a $27.3 million tax benefit due to the partial recognition of certain deferred tax assets in the period.

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Net revenues surged by 39 percent to $112.97 million from $93.97 million year-on-year.

Of the total, revenues from products remained the highest contributor, up 18 percent to $98 million from $83.2 million year-on-year. Royalties amounted to $14.97 million, or a 39 percent jump from the $10.76 million in the same comparable period.

“Rising demand across high-performance compute, automatic test equipment, and industrial, aerospace, and defense applications is reflected in a 70 percent sequential increase in backlog, setting the stage for revenue growth,” said Vicor Corp. (NASDAQ:VICR) CEO Patrizio Vinciarelli.

“We are expanding capacity with additional equipment in our first CHiP fab while planning a second fab. Expanding total capacity with a second fab and an alternate source of high current density 2nd Gen VPD modules will give OEMs and Hyper-scalers redundant access to enabling VPD power system technology,” he added.

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