Vicor Corp (NASDAQ:VICR) posted financial report for the fourth quarter closed December 31, 2017. Revenue for the fourth quarter closed December 31, 2017 surged to $58.771 million compared to $48.085 million for the corresponding period a year earlier, and increased from $56.888 million for Q3 2017. Fourth quarter bookings surged to $71.343 million from $55.082 million for the corresponding period a year earlier, and increased from $64.280 million for Q3 2017.
Commenting on latest developments, Dr. Patrizio Vinciarelli, the CEO of Vicor, expressed that the transition of XPUs to 48V, and away from 12V infrastructure, is about to grow with the launch of higher performance XPUs supported by 48V. Industry leaders and early adopters are paving the way for extensive conversion to 48V, and this growing trend is starting to reflect itself in their bookings performance: after third quarter sequential increase of 8%, fourth quarter net bookings surged 11% sequentially. With backlog of $73 million as of year-end, they anticipate revenues to surge by 11% sequentially for Q1 2018.
Dr. Vinciarelli added that with rising volumes, their advanced products have recorded profit margins surpassing those of their legacy bricks. As advanced items are expected to make up a larger part of total revenue, margin expansion and revenue growth are projected to bring about notable earnings growth starting in Q1 2018.
Gross margin surged to $26.931 million for Q4 2017, compared to $21.499 million for the corresponding period a year earlier, and increased from $25.143 million for Q3 2017. Vicor reported that gross margin, as a fraction of revenue, surged to 45.8% for Q4 2017, compared to 44.7% for Q4 2016, and jumped from 44.2% for Q3 2017.
In the last trading session, the stock price pf Vicor declined more than 3% to close the day at $24.95. Post the recent decline, the market cap of firm was noted around 981 million.