Reports Q2 revenue $85.9M, consensus $81.77M….Backlog for the second quarter ended June 30 totaled $153.8Mn, a 29.2% decrease from $217.3M for the corresponding period a year ago, and 2.3% sequential increase from $150.3 M at the end of the first quarter of 2024. Commenting on second quarter performance, Chief Executive Officer Dr. Patrizio Vinciarelli stated: “Backlog, revenues and cash flow improved in Q2 while gross margins and profitability were impacted by changes in product mix and taxes.” “Our technology, products and fabrication methodology are focused on satisfying emerging requirements for high current and power density. We are pleased with our competitive position and market opportunity.”
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