Benzinga | Jul 23, 2021 06:26AM EDT

Vicor Beats On Q2 Earnings, Notes Impressive Margin Expansion

* Vicor Corp (NASDAQ:VICR) reported second-quarter FY21 revenue growth of 34.8% year-on-year to $95.38 million, beating the analyst consensus of $93.98 million.

* The gross margin expanded 950 basis points to 52.3%.

* EPS of $0.43 topped the analyst consensus of $0.33.

* It generated $12.3 million in operating cash flow.

* Vicor held $230.2 million in cash and equivalents.

* The Q2 revenues and gross margins reflected strong demand and improved manufacturing efficiencies, CEO Dr. Patrizio Vinciarelli said.

* Vertical integration of power packaging processes and increased capacity in expanded facilities are on track for completion by Q1 '22, setting the stage for reduced factory cycle time, operational efficiency, and significant margin expansion in 2022.

* Price action: VICR shares closed at $109.40 on Thursday.