Vitesse Semiconductor, a provider of IC offerings for carrier and enterprise networks, posted net revenues of $74.6m for the first half of 2011, compared to $85.6m reported in the same period of FY10.
For the first half ended 31 March 2011, the company posted $2.8m as loss from operations, compared to operations income of $2.7m for the same period last year.
Vitesse Semiconductor reported a net loss of $16.8m, or $0.69 per share, for the first half of FY11, compared to a net loss of $68m, or $3.63 per share, for the same period in fiscal 2010.
Vitesse CEO Chris Gardner said the second quarter results are in line with their expectations and reflect continued weakness in the Asia Pacific region.
"Despite this weakness in our end markets, we continued to improve our operating leverage and reported an essentially operating breakeven quarter on a non-GAAP basis," Gardner said.
For the third quarter of fiscal year 2011, the company expects revenues to be in the range of $35m to $37.5m, product margins to be in the range of 57% to 59%, and operating expenses to be in the range of $23.0m to $24.0m.
