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Stock Market & Financial Investment News

News Breaks
February 20, 2013
20:07 EDTVICRVicor Corporation now sees Q4 EPS (12c) after tax loss, had seen break-even
The company is providing an update on its expected results for Q4 and Q1. On November 26, 2012, the company stated it expected to report Q4 fully diluted earnings at an essentially break-even level. The company now expects to record a substantial after tax loss, primarily as a result of certain charges recorded for Q4. Commenting on Q4, CFO James Simms stated, "Our earlier expectations of essentially break-even results for Q4 assumed an operating loss would be offset by the previously disclosed gain on the settlement of certain insurance litigation. Our actual operating loss was larger than forecast, and we also recorded several large non-cash charges, including the impairment of goodwill, an increase in reserves for certain inventories of raw materials and components, and a reduction in the carrying value of certain deferred tax assets. Accordingly, we anticipate Vicor will report for the fourth quarter an after tax loss, on a per share basis, of approximately 12c per share. Our final results will be disclosed on February 26th." The company also expects to record Q1 revenue and earnings sequentially lower than Q4.
News For VICR From The Last 14 Days
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March 16, 2015
10:21 EDTVICRVicor says SynQor power converter claims held to be invalid
In a unanimous decision, the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., on March 13 issued a ruling invalidating key claims of a power converter patent asserted by SynQor Inc. against Vicor Corporation (VICR) and Cisco Systems (CSCO) in litigation currently pending in the United States District Court for the Eastern District of Texas. Reversing a decision of the United States Patent and Trademark Office, the Federal Circuit agreed with Vicor that prior art anticipated certain claims of SynQor's 7,072,190 patent and ordered the USPTO to reconsider the obviousness of the remaining claims. Commenting on the decision, Dr. Patrizio Vinciarelli, Vicor's CEO, stated, "The Federal Circuit decision turns the tables on SynQor, which resorted to attacking competitors and customers with bogus intellectual property after failing in the marketplace with its inferior bus converters. As a company founded on innovation, Vicor respects legitimate IP interests of others. However, Vicor will confront abusive IP litigation where, as here, illegitimate claims are asserted to suppress competition from superior products known not to infringe." Vicor has asserted counterclaims against SynQor. In its counterclaims, Vicor seeks damages for unfair and deceptive trade practices and tortious interference engaged in by SynQor as part of its campaign to discourage customers from using Vicor's superior products so as to monopolize the bus converter market. Vicor will hold SynQor, and its principals, accountable for damages they have intentionally caused.

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