Vitesse Semiconductor Posts 2nd-Quarter Gains

Vitesse Semiconductor Corp. in Camarillo said revenues in the second quarter of fiscal 1999 were $66.9 million, a 66% jump from $40.2 million in the second quarter of fiscal 1998 and an increase of 11% over the $60.2 million reported in the first quarter of fiscal 1999.

Net income for the second quarter that ended March 31 was $17.6 million, or 22 cents per share, compared with $12.1 million or 15 cents per share in the second quarter of fiscal 1998. In the first quarter of fiscal 1999, net income was $15.4 million, or 19 cents per share.

President and Chief Executive Lou Tomasetta said the increase in revenues was due to “continued strength in our focus areas of communications and test equipment.” He said the company’s manufacturing groups in Camarillo and Colorado Springs, Colo., generated a record volume of shipments.

Vitesse designs integrated circuits for telecommunications, data communications and automatic test equipment manufacturers.