SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
----------------------------------
Date of Report (Date of earliest event reported): April 29, 2003
--------------
VICOR CORPORATION
(Exact name of Registrant as specified in charter)
Delaware 0-18277 04-2742817
- ------------------- ------------------------ ----------------
(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification no.)
25 Frontage Road, Andover, Massachusetts 01810
---------------------------------------------------
(Address of principal executive offices) (Zip Code)
(978) 470-2900
----------------------------------------------------
(Registrant's telephone number, including area code)
N/A
----------------------------------------------------
(Former name, former address and former fiscal year,
if changed since last report)
Item 7. Exhibits.
(c) Exhibits. The following exhibit is being furnished herewith:
Exhibit
Number Title
- ------- -----
99.1 Vicor Corporation's press release dated April 29, 2003.
Item 9. Regulation FD Disclosure (Information provided under Item 12 -
Results of Operations and Financial Condition).
The following information is being provided under Item 12 - Results of
Operations and Financial Condition. It is being furnished under Item 9 of this
Form 8-K in accordance with interim guidance issued by the SEC in release No.
33-8216. Such information, including the Exhibit attached hereto, shall not be
deemed "filed" for any purpose, including for purposes of Section 18 of the
Securities and Exchange Act of 1934 (the "Exchange Act") or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933 or the Exchange Act,
regardless of any general incorporation language in such filing.
On April 29, 2003, Vicor Corporation issued a press release introducing the V I
Chip and a New Power System Architecture. The full text of that press release is
attached as Exhibit 99.1 hereto and incorporated by reference herein.
[Remainder of page left blank intentionally]
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
VICOR CORPORATION
Dated: April 29, 2003 By: /s/ Mark A. Glazer
-----------------------------
Name: Mark A. Glazer
Title: Chief Financial Officer
3
EXHIBIT INDEX
Exhibit
Number Title
- ------- -----
99.1 Vicor Corporation's press release dated April 29, 2003.
4
Exhibit 99.1
Vicor Introduces the V-I Chip and A New Power System Architecture
ANDOVER, Mass.--(BUSINESS WIRE)--April 29, 2003--Vicor Corporation
(NASDAQ: VICR) today has introduced a new power system architecture
based on an array of proprietary power conversion technologies. The
new architecture, called Factorized Power Architecture (FPA), is
featured in an Electronic Design "Leapfrog" story published on April
28. FPA will provide power system designers with breakthrough
performance at a lower cost than attained with conventional
Distributed Power Architecture (DPA), including Intermediate Bus
Architecture (IBA). FPA and its enabling V-I Chips will supersede the
paradigm based on "high-density" DC-DC converter "bricks" and
non-isolated Point Of Load converters.
FPA is enabled by power conversion components called V-I Chips or
VICs. V-I Chips efficiently process up to 200 Watts of power in a
small (less than 0.25 cubic inch) and light (less than 13 grams) power
Ball Grid Array (BGA) package, with power density up to 800 Watt/ in3,
five times better than any competitive product. These functional
building blocks will be deployed as surface mount (SMD) components to
create a flexible Factorized Power system.
One VIC type, the Pre-Regulator Module (PRM), is designed to
accept a wide-range supply voltage and convert it to a Factorized Bus
- - a controlled voltage source - with 97% to 99% efficiency. Another
VIC type, the Voltage Transformation Module (VTM), is designed to
convert the Factorized Bus to the voltage levels required by the load
with efficiencies as high as 97%. The VTM will also provide input to
output galvanic isolation. With an effective switching frequency of
3.5 MHz, the VTM responds to dynamic loads 20 times faster than the
fastest competitive brick type converter.
Because of the inherent flexibility of Factorized Power and the
performance superiority of V-I Chips, Vicor believes that a wide
variety of systems and applications can benefit from their deployment.
For example:
Systems with advanced, high-speed microprocessors requiring
on-board power at high current and low voltage can draw as much as 80
Amperes at up to 2.5 Volt from a single VTM. The VTM's ability to
respond to changes in microprocessor current in less than one
microsecond outperforms typical sub-MHz, hard-switching, multi-phase
VRMs while at the same time reducing system complexity and cost.
Electrical and electronic systems in vehicles requiring a
multiplicity of high and low voltages can benefit from the high
density, high efficiency and low electrical noise of V-I Chips. The
high temperature performance, thermal management versatility and
inherent ruggedness of V-I Chips should provide compatibility with
harsh application environments, such as found in automobiles.
Consumer and other electronic products requiring small,
lightweight and low profile power systems that are cost-effective can
benefit from the VIC's ability to operate within a height of only 4mm
over the printed circuit board.
The first V-I Chip product offering will be introduced in May,
2003. Additional Factorized Power products will be introduced at an
increasing frequency over the next several months.
VICs for FPA systems will be priced as low as 12 cents/Watt or 31
cents/Ampere. A 200 Watt PRM or an 80 Amperes VTM will be priced at
$25 each in OEM quantities. V-I Chips will be shipped in JEDEC trays
or taped and reeled for use with automated pick and place equipment.
For more information on V-I Chips and Factorized Power
Architecture, please visit the Vicor website at www.vicorpower.com.
This press release contains certain forward-looking statements as
that term is defined in the Private Securities Litigation Reform Act
of 1995. You can identify these statements by our use of the words
"may," "will," "would," "should," "plans," "expects," "anticipates,"
"believes," "is designed to," "continue," "estimate," "project,"
"intend," and similar expressions. These forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated. These risks and
uncertainties include our ability to develop new products
cost-effectively and our ability to decrease manufacturing costs, as
well as those risks and uncertainties identified in the Company's
Annual Report on Form 10-K. The risk factors contained in the Annual
Report on Form 10-K may not be exhaustive. Therefore, the information
contained in that Form 10-K should be read together with other reports
and documents that the Company files with the SEC from time to time,
which may supplement, modify, supersede or update those risk factors.
CONTACT: Vicor Corporation
Customer Contact:
Product Marketing Mgr.
Bob Marchetti, 978/470-2900
or
Editorial Contact:
Marketing Manager
Iris Kimber, 978/749-3396
ikimber@vicr.com