By Kelly Cloonan
Shares of Vicor slid after the company's first-quarter earnings and revenue missed analyst estimates.
The stock fell 22%, to $40.26, midday Wednesday. Shares have gained 24% over the past 12 months.
The company, which develops and manufactures modular power components and complete power systems, on Tuesday reported a profit of $2.5 million for the first quarter, compared with a loss of $14.5 million a year earlier.
Earnings per share were 6 cents, below estimates of 25 cents a share according to analysts polled by FactSet.
Revenue rose 12%, to $94 million. Analysts expected $96.6 million.
Chief Executive Patrizio Vinciarelli said the Andover, Mass., company's revenues and gross margins declined on a sequential basis, with reduced income from a licensee transitioning to new unlicensed products. Margin improvements will depend on higher utilization of the company's "ChiP" fabrication facility and increased income from existing and future licensees, he said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 30, 2025 14:57 ET (18:57 GMT)
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