View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 2, 2010

Vitesse Q4 revenue increases to $43m

Posts net loss of $20.1m for fiscal 2010

By CBR Staff Writer

Vitesse Semiconductor, a provider of IC offerings for carrier and enterprise networks, has posted net revenues of $43m for the fourth quarter of 2010, a marginal increase of 10% as compared to $39.2m reported in the same quarter of FY09.

For the fourth quarter ended 30 September 2010, the company posted $2m as income from operations, compared to a loss of $2m for the same period last year.

Vitesse Semiconductor reported a net income of $15m, or $0.42 per share, for the fourth quarter ended of FY10, compared to a net loss of $9.5m, or $0.83 per share, for the same quarter in fiscal 2009.

The company posted revenue of $166m for the full year ended 30 September 2010, a marginal decrease of 1.3%, compared to $168.2m in 2009.

Operating income for the year was $4m, compared to an operating loss of $179m in 2009.

Net loss for the year decreased to $20.1m from $194.2m in 2009, while net loss per share declined to $0.96 from $16.92.

Content from our partners
Why all businesses must democratise data analytics
How start-ups can take the next step towards scaling up
Unlocking the value of artificial intelligence and machine learning

Vitesse CEO Chris Gardner said during 2010, their revenue remained about flat with 2009 levels in spite of the economic climate, industry wide component shortages and a declining contribution from their legacy storage business.

"Our product revenue grew nearly 7% to $165.6m and revenue from our core products in Carrier and Enterprise Networking increased approximately 15% to $148.4m," Gardner said.

"By moving our manufacturing to an outsourced model, we reduced fixed costs, increased margins and shortened our cycle times and now have a strong foundation and robust product pipeline for profitable growth in the years ahead."

Vitesse Semiconductor expects revenues to be in the range of $37.5 to $41m and operating expenses to be between $22.5 and $23.5m for the first quarter of fiscal year 2011 ending 31 December 2010.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED
THANK YOU