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Stock Market & Financial Investment News

News Breaks
February 21, 2013
05:02 EDTVICRVicor Corporation sees Q1 revenue, earnings sequentially lower than Q4
Addressing near-term performance, CEO Dr. Patrizio Vinciarelli stated, "For Q4, our consolidated bookings declined 27%. We are therefore expecting to record Q1 revenue and earnings sequentially lower than Q4. Reflecting our near-term demand expectations, we undertook a reduction in force on February 12, and are monitoring production activity closely, with furloughs of manufacturing personnel within our Brick Business Unit and our VI Chip subsidiary continuing on an as-needed basis. As I stated in November, we believe our financial performance may not improve until after new products in which we have made considerable investment begin to contribute to our revenues and earnings."
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