<<Results released late Wednesday were three cents shy of the 16 cent-a-share estimate from three analysts. Vicor said in a conference call yesterday that profit from its newest version of power converters fell because it lost its two major customers, which together account for about 20 percent of the converter's sales, analysts said.
``One shoe fell on Wednesday, and the other shoe dropped last night,' said Jim Coleman, an analyst at Fechtor, Detwiler, Mitchell & Co., who reduced his recommendation to ``buy' from ``strong buy.'
``They've got a great product, great technology. But it's going to be at least two quarters before the new converters start catching them up to where they were before.' >>
This is a snippet from the news release carried by Bloomberg. It goes on to say that the second half of the year should improve as next generation products ramp up.
Who are the major customers for VICR's products? If the two major customers account fo r20% of the sales, the other 80% must be spread out pretty nicely. Unfortunate that the two BIGEST customers cut orders in the same quarter. |
