Vitesse Semiconductor Funds Plant as Net Surges

Vitesse Semiconductor of Camarillo said it plans to invest an initial $75 million to build a computer chip plant in Colorado Springs.

The company said the project will employ 100 people in the manufacturing operations plus 40 engineers. Additional staff may be added later, company officials said.

The company also reported record revenues and net income for the third quarter ended June 30.

Revenues in the third quarter of fiscal 1996 were $17.3 million, a 57% increase over the $11 million reported in the third quarter of fiscal 1995 and an 11% increase over the $15.6 million in the second quarter of fiscal 1996.

Net income for fiscal 1996’s third quarter was $3.8 million or 18 cents per share, compared with net income of $762,000 or 5 cents per share in the third quarter of fiscal 1995 and net income of $2.6 million or 14 cents per share in the second quarter of fiscal 1996.

For the nine-month period ended June 30, revenues were $46.9 million, a 52% increase over the $30.8 million recorded in the nine-month period ended June 30, 1995. Net income for the nine months was $8.1 million or 42 cents per share, compared with $276,000 or 2 cents per share for the nine-month period ended June 30, 1995.

Vitesse Semiconductor designs and manufactures digital integrated circuits used primarily for telecommunications, data communications and automated test equipment systems.