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Technology Stocks : Vitesse Semiconductor
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To: Cameron who started this subject9/10/2001 8:20:29 PM
From: Dr. Id  Read Replies (1) of 4710
 
Monday September 10, 6:49 pm Eastern Time

Vitesse warns 4th-qtr revenues to miss expectations

CAMARILLO, Calif., Sept 10 (Reuters) - Vitesse Semiconductor Corp. (NasdaqNM:VTSS - news) on Monday said
it would miss its revenue forecast for the current quarter amid a slowdown that has plagued microchip makers.

Vitesse, whose chips are used in networking and optical communications equipment, said it expected revenues in the range of $37 million to $40 million in its
fiscal fourth quarter ending in September, compared to an earlier estimate of approximately $50 million.

The company now expects a loss of 12 cents to 15 cents a share in the quarter, it said. Analysts on average had expected a loss of 9 cents a share, in a range of
a loss of 7 cents to 11 cents.

For the December quarter, Vitesse said it expects revenues and the pro forma loss to be flat to slightly up from the fourth quarter.

Shares of Vitesse fell 35 cents, or 2.7 percent, to $12.71 on Nasdaq.
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