Vicor Shares Rise in Premarket Trading on 3Q Profit, Revenue Growth
Dow Jones
Oct 22
Vicor shares rose in premarket trading Wednesday after the company logged a higher profit thanks to strong revenue growth.
Shares traded 26% higher ahead of the morning bell at $82.8.
The manufacturer of power modules posted late Tuesday a more than doubled net income of $28.3 million, or 63 cents a share, compared with $11.6 million, or 26 cents a share, in the same quarter a year ago.
According to FactSet, analysts were expecting 17 cents a share.
Total revenue rose to $110.4 million from $93.2 million. Analysts were expecting a more modest rise to $95.4 million.
Backlog for the period came to $152.8 million, a 1.5% increase from the corresponding period a year ago.
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