Vicor Responds To Allegations Made In Recently Filed Securities Litigation; Says "The Company's Statements On July 25, 2023 Were Truthful And Properly Represented Its Reasonable Expectations At The Time"

Vicor Corporation (NASDAQ:VICR) (the "Company") today disclosed facts that formed the basis for forward-looking statements about an expected revenue ramp, made in the Company's July 25, 2023 Earnings Call, that were alleged to be untrue in recently-filed securities litigation against the Company. These statements were true when made on the basis of the facts outlined below.

 

As of July 25, 2023, the Company had booked over $30 million in Non-Cancellable, Non-Returnable orders (the "NCNR Orders") from a significant customer (the "Customer") reflecting what the Company understood to be the Customer's allocation for a new program (the "New Program") to the Company. Subsequent to the July 25, 2023 Earnings Call while continuing to honor the NCNR Orders, the Customer changed its allocation for the New Program, as the Company indicated in its forward-looking statements made in subsequent Earnings Calls. Accordingly, the Company's statements on July 25, 2023 were truthful and properly represented its reasonable expectations at the time.