Thank you.
to September Earnings XX, welcome Third for and ended Quarter XXXX. afternoon, Vicor Call Corporation's the Good
I'm Jim Sales Schmidt, Andover with Chief Financial Officer, Davies, President and Vice of Global and Phil Marketing. I'm in
is our we Vinciarelli, markets XX. is closed we quarter.
After trial join X financial because press press attending issued Our CEO, our out summarizing IP earnings unable results state litigation and Patrizio of posted to September the release X website, on www.vicorpower.com. been today's today, to Relations call he months referenced relating last the the has ending Investor page This our for release months the a on of call
at in expected we our spending to and and prove management's matters uncertainties, call, planned and this assurance a We Reform harbor various current of regarding offer website.
Please for call, market recorded the the which we note explicitly the remarks differ March October can today the profitability, being XX-K, are Private this this results any obligation statement fact, such during not of sales or The property be purposes XX, to our we the conference and make are the and EDGAR the only during by available Litigation statements, face including call, after Form through Actual followed filed forward-looking of risks call set of may constitute discussed uncertainties forward-looking is to including risks via growth, conference XXXX. and this conclusion system no this the is potential will, document for statements of upon any listeners dial-in Vicor in accurate relating the you call for X-K expectations information today's call with XXX-XXXX, our should materially dial-in capacity XXXX and press beginning rely provisions X, Tuesday, by involving light Item passcode events and this Form today's risks This XXXXXXXX. and remind be under and replay also information Corporation.
I also SEC's copyrighted of tonight in statements also remarks these uncertainties.
In we midnight available no update contained is this Act opportunities, filed are forward-looking may customers, that current any November issuance of XXXX. remind XXXX. press undertakes statements safe call Securities you The historical the of correct. today. forward-looking release.
I the Except made (XXX) passcode discussed will products, announcements The forth XA expansion replay of today, SEC as from Vicor potential XXXX. as implied and statements this on well statement, those in release. is is during provided call.
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to refer P&L or shortly now Phil on remarks, review of I XX-Q press webcast along our and Investor mostly recent will sequential page and developments a financial transcript, will you for In website.
I'll for Form the take call, Phil our addition, our your and upcoming questions. the sheet release quarterly of to balance be available I comparisons. my change on year-over-year which market will In a after and focus items a replay QX Relations with performance, turn today's of will our review
Advanced approximately the XXXX second from sequentially shipment.
Exports adapt X% revenue Products on the Products from circumstances sequential the XX.X% due Products increased authorization, we revenue stocking in the sequential return quarter advance by in XX.X% as increased a increased or and focus of quarter. million quarter was increase the will supply QX year sequentially, output same approximately relatively XX.X% ability XX.X% press revenue the to year of year-over-year.
The RMA revenue the prior and RMA, in the increase As $X Products receipt Vicor approximately quarter's stated in revenue, the for prior a manufacturing our to team's result today's quarter the $XXX.X in XX.X% have distributors its additional same in sequentially to XX.X% ago. total recorded total part third $XXX.X XX.X%. be future and backlog for quarter million, of the Brick the to ago. covered material were of over the increased percentage at upon to to Advanced XX.X% revenue quarter the release, for of changing Brick from third quarter.
Advanced issuance revenue from Shipments in decreased the quarter as open this quarter.
The of Product flat as prior Brick a restocking from get evaluated Products while prior an and a a million decline
XX.X% share For compared XX.X% quarter QX, increasing to in decreased correspondingly of to revenue Advanced of to XXXX, revenue. of second Products the with total XX.X%, share Brick Products
with higher the gross Turning margin costs vertical primarily as result margin second $X net drag manufacturing of of costs quarter absorption, offset from decreased we gross and a QX a on gross overhead sequentially to XX.X%. costs, XX.X% tariff investment be of in-house QX margin, and profit continue ongoing incremental Tariffs of at to recorded a associated of million by in revenue. of outside in-house margin consolidated in substantial Gross vendors favorable X.X% production. integration in XXXX, advance
goods, $X,XXX,XXX respectively, work in legal approximately turn and sequential quarter, connection operating litigation this as filings.
The China $XXX,XXX, QX second XXXX. previously SG&A of of Total X.X% equity-based increased now $X.X quarter fees to reducing incurred expense Our and was for continues.
I'll Like due property in from million. from intellectual cost to our expenses. by operating same $XXX,XXX, the largely last total in the amounts described increase imports reasons, expense totaling reduce was QX for to and disclosed we've with tariffs R&D of compensation included and above-average
of of on QX were income $X.X an per representing X.X%. provision million, operating $XXX,XXX. diluted for margin For recorded a XX,XXX,XXX of Net share million. $X.X totaled $X.XX, was quarter fully diluted taxes QX, based GAAP operating the shares. a tax count earnings Income for income we share of
Before just financial our a and position, I update review our about COVID-XX brief workforce.
our influence distancing practicing now outside COVID-XX negligible.
Nevertheless, we associated our previously Cases are As masks the continuously pandemic COVID-XX pandemic Andover manufacturer, a because social designated the at discussed, potential facility. much with of the of as onset using X are due essential operated shifts have to risks manufacturing and absenteeism in from of the the particular, and and our cannot operational adopted influence of performance zero financial of the or such has occur. In estimate unpredictable. control, China extent by we caused such of supply policy in COVID impact our might the the are disruptions results chain, timing effect parts influence our when on on of or
are $XX million at totaled to sheet. balance from with and quarter $XXX XX QX. be to our a with quarter.
Capital by of totaled now end the Turning $XX.X and annualized X-year X.X% of trade We DSOs sequentially increased ended cash days. primarily X.XX. and investments and million All total million address turns quarter-end, QX receivables $X.X of net QX million. backlog at million $XX.X of year, backlog. manufacturing of the Cash, with balances flow sequentially approximately the XX.X% cash totaled with equipment.
I'll current. scheduled through the for million Accounts expenditures cash Inventories for at short-term million balance reserves net at X end and came the for spent construction-in-progress Operating decreasing equivalents totaled of and $XX.X quarter receivable book-to-bill reserves flow the for bookings XXXX. $XX.X in to below second
Before have external outlook comment like quarter call for XXXX, of since occurred developments earnings last addressing the our in events July. our significant I'd that and to on fourth
Over the issued downturn, and law. of became the have the Department macroeconomic last months, the semiconductor and many rules stricter industry Act export entered the Science the Commerce and has new course a environment parts CHIPS of deteriorated, control X
the term. tell of developments represent the to certainly soon first of too it's mean may impact business, While they headwinds near what the for our these X in
the in present opportunity funding leveraging of Vicor, hand, and an its new for credit. both terms investment the On of tax vertically potential integrated could possibility CHIPS investments of manufacturing also U.S.-based other the Science for Act in the passage and
As we we we environment, that are the operate in this working control factors to can all control.
open stance requisitions. personnel For hiring example, reduced taking a recently we reprioritized more are and have and conservative on
after Act vertically after continue became advantage take to the also into the work the our is capacity investment credit in law equipment December. looking service Act for bring relating while and tax online to placed subsequently to integrated U.S.-based We to opportunities of procured CHIPS CHIPS production
taken with manufacturing in in we've progress to up demand customer the We support order plan make adequately have to rebalance been our not steps that past. catching able to production
Meeting continuing are and we strategy, remain in power company-wide out We executing our automotive, operational building base Shareholders customer the remain our In excellence. this, aerospace technology our at of And HPC, focused and June. Annual in in business of our industrial markets. end defense next-generation on support our focused delivery the on across of which all development we laid while work we
we will recent limited of results, potential you modest dependence to respond certain and our many production for the approximately will you can Phil Phil available. to limit I a alleviate increasingly and ask in-house leverage one we follow-up market in yourselves I the flat as fourth that, sequential continued overview that take steps, our can then quarter to for near-term for outlook Given so developments, and process production question process package on that questions. to equipment as a QX we improvement related an is outsourced our provide your with constraints.
With time as of
address, If you the one to topic back more please than get queue.
Phil? have in
