VICOR CORP (VICR) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	8-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Net revenues	399.1	359.4	296.6	263.0	291.2	227.8	200.3	220.2
Net revenues growth	11.1%	21.2%	12.8%	-9.7%	27.8%	13.8%	-9.0%	-2.5%
Cost of revenues		181.2	165.1	140.0	152.2	126.2	109.1	120.7
Gross margin	180.6	178.2	131.4	123.0	139.0	101.7	91.2	99.5
Gross margin	45.2%	49.6%	44.3%	46.8%	47.7%	44.6%	45.5%	45.2%

Operating expenses:
Selling, general and administrative	86.3	69.5	63.2	62.6	62.2	58.1	55.7	58.3
Research and development	60.6	53.1	50.9	46.6	44.3	44.9	41.8	41.5
Total operating expenses	146.9	122.6	114.1	109.1	106.9	103.0	97.5	99.8
Income from operations	27.2	55.6	17.4	13.8	32.1	-1.4	-6.3	-0.3
Operating margin	6.8%	15.5%	5.9%	5.3%	11.0%	-0.6%	-3.2%	-0.1%

Other income (expense), net:

Less: portion of losses (gains) recognized in other comprehensive income
Net credit gains recognized in earnings
Other income, net		1.2	1.1	1.1	0.9	1.3	0.3	0.0
Total other income, net		1.2	1.1	1.1	0.9	1.3	0.3	0.0
Income before income taxes		56.8	18.5	14.9	32.9	-0.1	-6.0	-0.2
Provision for income taxes	3.3	0.2	0.5	0.8	1.1	-0.4	0.2	-0.4
Consolidated net income		56.6	17.9	14.1	31.8	0.3	-6.3	5.2
Less: Net income (loss) attributable to noncontrolling interest	0.0	0.0	0.0	0.0	0.1	0.1	0.0	0.2
Net income attributable to Vicor Corporation	25.4	56.6	17.9	14.1	31.7	0.2	-6.2	4.9

Net income per common share attributable to Vicor Corporation:
Basic	$0.58	$1.30	$0.42	$0.35	$0.80		($0.16)	$0.13
Diluted	$0.57	$1.26	$0.41	$0.34	$0.78		($0.16)	$0.13

Shares used to compute net income per common share attributable to Vicor Corporation:
Basic	44.0	43.7	42.2	40.3	39.9	39.2	38.8	38.8
Diluted	44.9	45.0	43.9	41.7	40.7	39.9	38.8	39.1