Vitesse Reports Profit of $268,000 in 1st Quarter

Vitesse Semiconductor Corp., a Camarillo maker of computer circuits, said it earned $268,000 in its fiscal first quarter that ended Dec. 30, contrasted with a year-earlier loss of $3.2 million.

Revenues jumped 85% to $8 million from $4.3 million a year earlier, Vitesse said. The first-quarter profit included a onetime gain of $202,000 from the conversion of some debt to equity, the company said.

The higher revenues were largely due to a surge in production revenue, to $4.9 million from $2 million a year earlier, the company said. Lou Tomasetta, president and chief executive, attributed the increase to improved product yield and manufacturing efficiency.