More problems with semis (Vitesse Semi (VTSS)).
16-Apr-01 Vitesse Semi (VTSS) 24.05 -1.65: -- Update -- Conference call ended.
16-Apr-01 Vitesse Semi (VTSS) 24.05 -1.65: -- Update -- On conference call, management repeating that forecasts are "not made with a lot of confidence" and there is "no visibility." So even the lowered guidance should be analyzed in that context. Stock trading at 21.90
16-Apr-01 Vitesse Semi (VTSS) 24.05 -1.65: -- Update -- On conference call, mgmt guiding down gross margin for JunQ to 59%-60%, down from 62.2% in MarQ...says only bright spot in MarQ was upper layer product shipments as sales were up 37% sequentially....no customers even close to 10% of sales in MarQ....Cap-ex was $50 mln in MarQ. Over next two quarters, mgmt expects a total cap-ex of $10-$25 mln which gives a flavor for what to expect for chip equipment companies....stock trading at 21.95.
16-Apr-01 Vitesse Semi (VTSS) 24.05 -1.65: -- Update -- On conference call, communication chip maker guiding down for JunQ. Now, revenue and EPS expected to be $90-110 mln and $0.03-$0.07 vs First Call consensus of $109 mln and $0.08, respectively....says it is seeing "serious degradation in demand;" book-to-bill at 0.8 -- much less than 1.1-1.2 experienced over last 6-7 quarters. Stock trading at 22.22.
16-Apr-01 After Hours Action : After hours movers with changes vs close: CSCO -1.23, UIS -1, FNSR -1.50, VTSS -1.80, ACTU -1. There are also a slew of losers in the Cisco group: AMCC -1.20, BRCM -1.17, PMCS -1.27, PLXS -1.75, FLEX -1.81, NT -0.75, JNPR -1.68, CIEN -1.76.
16-Apr-01 Vitesse Semi (VTSS) 24.05 -1.65: -- Update -- Reschedules conference call for 6 pm ET. Corrected conference call number: 877-888-3490, passcode: Vitesse
16-Apr-01 Cisco Fallout : CSCO currently -1.89 at 15.31 after hours; Nasdaq 100 after hours indicator -36. Other Cisco-related stocks also getting hit (changes vs close); suppliers: AMCC -1.48, PMCS -1.39, BRCM -1.16, VTSS -1.25; contract manufacturers: PLXS -1.75, SANM -1.40; competitors: NT -0.75, EXTR -1.03, JNPR -2.34, CIEN -2.71, ONIS -1.67.
16-Apr-01 Vitesse Semi (VTSS) 23.95 -1.75: Reports Q2 earnings of $0.10 a share, in line with the First Call consensus of $0.10, vs year-ago earnings of $0.16; revenues rose 21.4% to $121.76 mln from a year-ago of $100.31 mln; see press release. |
