Vicor reports Q3 EPS 37c, consensus 31c

Reports Q3 revenue $107.8M, consensus $106.6M. Backlog for the third quarter ended September 30totaled $174.7M a 53.0% decrease from $371.6M for the corresponding period a year ago, and 19.6% sequential decrease from $217.3 million at the end of the second quarter of 2023. Commenting on third quarter performance, Chief Executive Officer Dr. Patrizio Vinciarelli stated: “While Q3 bookings remained weak, I am pleased with progress made with our ChiP foundry and our 5G product line.” “Competitive AI platforms will soon require higher current density and Vertical Power Delivery. Our investment in the world’s first ChiP foundry and 5G power system capability anticipated the evolving requirements of AI power systems, as reflected in recent customer engagements. With its intellectual property and ChiP capacity, Vicor is uniquely positioned to diversify and expand its share of the AI power system market.”