Vitesse Reports 47% Jump in 1st-Quarter Revenues

Vitesse Semiconductor Corp. in Camarillo posted strong revenues and net income for the first quarter of fiscal 2000, which ended Dec. 31.

Revenues were $89.2 million, a 47% jump over the $60.7 million in the first quarter of fiscal 1999 and an increase of 11% over the $80.6 million reported in the fourth quarter of fiscal 1999.

Net income for the first quarter was $23.6 million or 14 cents per share, compared with $14.6 million or 9 cents per share in the first quarter of fiscal 1999 and $21.6 million or 13 cents per share in the fourth quarter of fiscal 1999.

“The quarter demonstrated strength across all of our communication product lines,” said Lou Tomasetta, president and chief executive officer. “Both our transmission and networking product lines contributed double-digit quarter-over-quarter revenue improvement.”

Vitesse designs and manufactures communications and integrated circuits for telecommunications, data communications and Automated Test Equipment manufacturers.