Vicor Corp. (VICR) stated that, based on preliminary information, the company now expects to record first-quarter revenue of approximately $42.0 million, and a first-quarter pre-tax loss of approximately $8.4 million, including $1.4 million of severance costs relating to the reduction in work force.
Vicor Corp. said its first-quarter bookings improved significantly from the depressed level of the fourth quarter, but still sees weakness across many of its targeted markets. The company said its new products are being well-received, but are early in their sales cycle.
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