EARNINGS REPORTING - surprises, misses & more Message Board

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Non-Tech : EARNINGS REPORTING - surprises, misses & more

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To: 2MAR$ who wrote (506)	1/22/2001 5:16:02 PM
From: 2MAR$	Read Replies (1) of 762

VTSS ( sell $63) results fend off tech slowdown, beats by only a penny By Barbara C. Costanza, CBS.MarketWatch.com Last Update: 5:01 PM ET Jan 22, 2001 Newswatch Latest Headlines Get Alerted CAMARILLO, Calif. (CBS.MW) -- Vitesse Semiconductor posted first-quarter profits Monday that exceeded the consensus estimate on Wall Street as revenue surged 85 percent. Vitesse (VTSS: news, msgs) said it made $47.6 million, or 25 cents a share, excluding one-time items. Analysts polled by First Call expected a profit of 24 cents a share. In the year-ago period, the company earned $20.4 million, or 11 cents a share. Revenue totaled $165.1 million. "Despite the slowdown in some of our larger customers, we were able to provide significant growth through initial production ramps in our upper architectural layer product families and to numerous new customers in the optical transport and enterprise space," said Lou Tomasetta, president and chief executive officer. Shares closed up $1.56 to $67.25 ahead of the news. --------------------------------------------------------------------------------

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