Vicor Corporation Reports Results for the Fourth Quarter and Year Ended December 31, 2021

About this update from Vicor Corporation

[{"type":"text","content":"ANDOVER, Mass., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Vicor Corporation (NASDAQ: VICR) today reported financial results for the fourth quarter and year ended December 31, 2021. These results will be discussed later today at 5:00 p.m. Eastern Time, during management’s quarterly investor conference call. The details for the call are below. Revenues for the fourth quarter ended December 31, 2021 totaled $90.3 million, a 7.1% increase from $84.3 million for the corresponding period a year ago, and a 6.3% sequential increase from $84.9 million in the third quarter of 2021. Gross margin increased to $40.8 million for the fourth quarter of 2021, compared to $40.5 million for the corresponding period a year ago, but decreased sequentially from $42.8 million for the third quarter of 2021. Gross margin, as a percentage of revenue, decreased to 45.2% for the fourth quarter of 2021, compared to 48.0% for the corresponding period a year ago, and from 50.4% for the third quarter of 2021. Net income for the fourth quarter was $8.9 million, or $0.20 per diluted share, compared to net income of $11.2 million or $0.25 per diluted share, for the corresponding period a year ago and net income of $13.3 million, or $0.29 per diluted share, for the third quarter of 2021. Cash flow from operations totaled $14.2 million for the fourth quarter, compared to cash flow from operations of $19.3 million for the corresponding period a year ago, and cash flow from operations of $10.1 million in the third quarter of 2021. Capital expenditures for the fourth quarter totaled $16.8 million, compared to $11.8 million for the corresponding period a year ago and $15.2 million for the third quarter of 2021. The sum of cash, cash equivalents, and short-term investments as of December 31, 2021 decreased 0.5% sequentially to approximately $227.6 million compared to approximately $228.9 million as of September 30, 2021. Revenues for the year ended December 31, 2021 increased 21.2% to $359.4 million, from $296.6 million for the prior year. Gross margin, as a percentage of revenue, increased to 49.6% for the year ended December 31, 2021, compared to 44.3% for the prior year. Net income for 2021 was $56.6 million, or $1.26 per diluted share and 15.8% of revenues, compared to $17.9 million, or $0.41 per diluted share and 6.0% of revenue in the prior year. Cash flows from operation...

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