me Good Global for and the the I'm Davies, and ended Tommy. Vinciarelli, are Corporation's and and CEO; full to Marketing. earnings XX/XX. Phil with CFO; Simms, call fourth Head Jamie in afternoon, you, Andover welcome Patrizio of everyone, Worldwide Vicor year here Sales Thank quarter and
been XX After posted www.vicorpower.com. press for the results summarizing our the markets financial Relations This Investor closed the XX. today, months on we months and page issued release website, December has a press release our ended X of
also related I of We filed call is the a this Vicor listeners property today Form is release. to Corporation. press copyrighted recorded and X-K the this conference being issuance remind of
Form this we on call, of I and safe with also uncertainties current remarks matters face announcements, Item in the February we events Act on information XA call fact, spending those materially as our forth uncertainties. in to in statements of statements set expansion by XX-K, forward-looking for this differ offer potential in products, involving provisions planned filed expected XXXX. The forward-looking harbor forward-looking today. current management's be regarding light planned all may capacity of historical can are or remind Securities -- and which are risks and correct. sales as results from risks risks In the prove this purposes statements SEC potential uncertainties, any XXXX. these opportunities, you and constitute various Litigation implied XXXX our growth, will, the statement for we and and Actual well XX, discussed and customers, or during of no explicitly that contained the assurance discussed any of market expectations call, make may including Private under profitability for Reform Except any remarks we
week, will we ahead this information only X of refresh Form Please these that the XX-K therein. and made conference including to presented of call Vicor to a of this statements XXXX. XX, our should file this and discussion face obligation deadline, statements such March be statements, forward-looking of update the during rely uncertainties expect We XXXX you provided note call today, SEC's the and Tuesday, as risks during any undertakes after call. upon the is accurate February conclusion no not
midnight passcode XXXXXXXX. dial-in today's XXX-XXX-XXXX A The replay today's are tonight be and XXXX. of is available at This set March number dial-in also forth call passcode the by replay will XX, release. in beginning through followed press
addition, a on webcast Investor available transcript In shortly along be the call replay today's of our website. will page the Relations with of
afternoon's circumstances outlook. with will after Patrizio, a remarks I our will will by we discussion start closing review and current our performance. financial this address your market Phil of take And questions.
So beginning with consolidated results.
Revenue aggregate, Products, total to Products, X.X% declined today's $XX.X XXXX's from reported for Chinese XXXX for placed and from and Vicor third in quarter $XXX decline XXXX. XX% reduced year-over-year million. the for release, recorded into for revenue sequentially figure million total revenue stated the China $XXX applications; data to XX% from press revenue As down the from XXXX for figure of million a total of Hong in annual on fourth down quarter of million of $XX.X XXXX totaled our shipments the million, XX.X% for and quarter tariffs on Advanced our our reflected, XX.X% import Kong center fourth decline primarily $XX.X revenue Brick of customers from of XXXX. the In shipments of demand influence approximately products.
the Japanese Japanese second for configurable focus Japanese year-over-year, on declined reflecting the our weakening the To the significant and we to the during of half XX% sales VJCL products market economic address and custom market. year, VJCL, sum revenue, the majority-owned of of repositioned distribution subsidiary, XXXX.
All a Advanced in partners, in through established Brick support supercomputing. opportunities also Products penetration are of focusing which broaden Tokyo office largest world's We now sales Products positioned in third on Japan economy. with are new and to our new and of automotive the hires distribution well promising
for American and North of reflecting conditions both improved rising, the increased segments revenue in certain Advanced industrial rose volumes through industrial year-over-year Products. of in on by electronics the consisting U.K. demand. with European expanded Brick weakness ongoing offset shipments X.X% distribution sales higher complemented revenue defense X% continent by year,
performance same conditions quarter, fourth to continue significant performance. year most the play. For Conditions influencing full our at influence our the were the have in China on
declined Hong exports in to sales as restrictions China the fourth slowing to products XX% reduced aerospace, distribution sequentially further sequentially customers XXXX trade Kong to expansion applied owing bookings XX% demand approximately U.S. the Hong our the both reduced data through and and industrial government, for Chinese approximately the of the supercomputing, Kong the quarter including of by to Revenue Chinese Chinese the the and government. across for Our certain declined center prohibition due and tariffs XX% shipments economy by segments quarter. to of
volume Product an revenue case Product the declines shipments as electronic defense domestic domestic unexpected to domestic slightly the and level distribution, shipments the turns was Brick of in quarter, China. full As offset increased year, for higher fourth for higher Brick
XX% driven However, Advanced by events. sequentially Products revenue X declined by
now customer shipments rescheduled an in ramp hyperscale Our subsequently customer. QX included to had April. forecast which important XXXX are deliveries, for set to This
for upcoming the delayed this successfully volumes for is production also brought by about Advanced We customer satellites. a bottleneck. the Products of that of believe shipment revenue We program chain now rescheduling bottleneck start to supply of scheduled final was ramps. have experienced ahead lower of Production contributor program The certain preproduction we mid-year. commercial in addressed
to For the split to quarter. advanced XX-XX brick third to XX% in contrast of fourth the was revenue the XX% quarter, the split for
increase QX of to hyperscaler a for XX% back and essentially program QX deliveries for International server the of rescheduling the third the program. decline tied the giving with recorded revenue relaunch declined the aforementioned that quarter XX% largely sequentially,
quarter's declined XX% from the to the a As quarter, total fourth of prior XX%. percentage revenue international for
XX% For the XX% revenue year, for contrast of full XXXX. total to revenue international in represented
Consolidated percentage was revenue XX.X%. gross margin the year from for the prior full year's down XX.X%, of as a slightly
was quarter, quarter, XX.X% increased fourth year metrics gross XX.X%. the have fourth For from operational sequentially margin our the and Through improved. the and
margin will million of high inbound applicants million However, we customs $X incurred High over U.S. recorded of we tariffs so for amount of impact charges more chain total $X.X tariffs as of exceeds bottleneck. for any XXX the aforementioned continue date. with of and eligible volumes drawback. drawback up the of The this anticipate we QX duty tariff program, paid recover supply to we yet in half have since gross for with Section implementation tariffs paid to to QX. million, backed is be amount than associated amounts $X.X
to production hope suppliers not subject us out Certain to year. XXX and are imports to of that evaluate China, of to tariffs. continue to the tariffs would see vendors lower we We completion subject Section nearing efforts import move their through
now I'll operating expenses. turn to
the nature charges year, the majority total in the spend. fourth XXXX, occurring $XXX,XXX severance the our of with we of the and in reflecting exclusive head-count-related recorded the year X.X%, increase for of quarter, the OpEx For discipline spending rose
these count the fourth occurring year. quarter XX XXXX, full-time new or in hires our of X.X% head by to XX For increased the of XXX with
while For largely XX.X% Full the to income prototyping quarter from revenue. project-specific increase to declined the year QX X.X% OpEx margin X.X%. from sequentially operating margin Full fourth X.X% to due reflected year's sequentially and prior increased fell an fourth operating in quarter, lower -- year charges. from operating X.X%
million diluted quarter EPS million, XXXX, net representing EPS QX figure on XX% decline small bring a GAAP to $X.X diluted is the to recorded $XX.X sequential XX,XXX,XXX represented share for decline our of of million, tax We for $X.X income X.X%. rate $X.XX This to fourth benefit totaled shares. taxes. year. $X.XX. income income the diluted in attributable to for Fully count The year to which contrast of of GAAP net of a fully was QX a a effective full Turning QX was Net Vicor for XX%.
sheet. with balance All for receivables $XX.X Accounts at steady cash to million days. Turning rose XX at and sequentially net receivable equivalents totaled DSOs our $XX.X year-end trade Cash X.X% sequentially of reserves million. to Inventories totaled $X.X QX sequentially in million Annualized $XX.X to another increase goods. sequential are expenditures with an Capital of current. finished decline X% X% for net X. million, reserves sequentially. decreased turns balances down of remained at
expansion. now our by and turning XXX,XXX We our Mother planned complete on gating feet going Street Now adjacent our construction to to our Federal we variable square Andover April to an is begin land Nature of XX,XXX by from expansion plan in feet, and acquisition of factory plant year-end. square to in primary XXX,XXX closed December. the
the both the funding of equipment installation. before, As phases anticipate internally stated we and multiple construction planned
backlog bookings. sequential XX% an of quarter. was address over $XXX X-year a increase for bookings now At reflecting the I'll in and backlog XX% million, increase sequentially, year-end, almost
New Advanced the orders doubled Product were Products flat. Brick essentially quarter, orders while for
activity New in Products decline Hong seen lighting steady. in and commercial the our their applications. domestic Advanced Brick reflected while the was for center China orders activity data reflected increase and orders Product space notable a Kong circumstances in orders revenue. continued
of anticipated outlook servers first AI QX in shipments we revenues and center for outbreak, Turning increases the coronavirus QX in data the ahead Subject limited quarter to starting our of anticipate ramp. of XXXX. the for for to progress start to as impact accelerators
over call Phil, who and provide will those our the With that, into conditions to in I'll market markets. turn insights positioning
