Vitesse Semiconductor Earnings Rise 41%

Vitesse Semiconductor Corp. in Camarillo, a maker of chips for fiber-optic equipment, said fiscal first-quarter earnings rose 41%, but sales missed analysts’ highest estimates.

Net income increased to $28.1 million, or 15 cents a share, from $19.9 million, or 11 cents, a year earlier, the company said. Revenue rose to $165.1 million from $89.3 million. Analysts had forecast sales of $138 million to $166 million, with an average estimate of $161.8 million, according to First Call/Thomson Financial.

Vitesse benefited as demand for Internet services spurred orders for chips that help power large networks and ease the flow of Web traffic. Still the company is concerned that troubles at its largest customer, Lucent Technologies Inc., may spread to Vitesse.

On a conference call with analysts, chief executive Louis Tomasetta said Vitesse expects fiscal second-quarter sales to rise 10% to 15% from the first quarter.