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Technology Stocks : Vitesse Semiconductor
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To: Cameron who wrote ()1/25/2000 6:17:00 PM
From: JCKnight  Read Replies (1) of 4710
 
Nice post from the Yahoo Vitesse thread about the Annual Stockholders Meeting by jpwnvt:

Just thought I 'd mention a few observations about today's meeting in Westlake, CA. It started right on schedule at 10:30. It was chaired by Louis Tomasetta who is a very amiable guy. The formal meeting took about 15 minutes. They elected directors, approved a 250000 share holdback for management and approved a future split. The meeting was followed by an extremely low tech slide show in which he talked about the company, it's goals, and what is driving the near term future of the company (increased bandwidth).
Someone asked him if TQNT was a major competitor to VTSS and he said that they compete in one area having to do with cell phones. He thought VTSS had a better and cheaper product.
He said that he thought VTSS could continue to increase sales and operating margins in the near (2 year) future.
He addressed the LU problem with the 10 gig wavestar system. It is not an electrical problem as much as it is an optical problem. He is confident that LU will eventually solve the problem and hopes it is solved this quarter.
The most encouraging thing he mentioned was that VTSS just had it's strongest design win quarter ever.
He later explained that a design win is when they have solved a problem for a customer with a specifically designed product. Once they get that win they have the order for the life of the product. He called it sole source.
This took about 45 minutes. It was over by 11:30 am. Oh, everyone who came got a shirt that says Vitesse. There were about 85 people, almost all with grey hair. Lastly does everyone know that it is pronounce Vatess where the a sounds like ugh? I've owned this stock for 5 years and always though it was Veetess like vee.

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