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Technology Stocks : Vitesse Semiconductor

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To: The Gambler who wrote (3833)	3/26/2001 7:50:12 PM
From: Bocor	Read Replies (1) of 4710

Hope you didn't add yet....just warned... CAMARILLO, Calif.--(BUSINESS WIRE)--March 26, 2001--Vitesse Semiconductor Corporation (Nasdaq:VTSS - news) today announced that due to continued weakness in demand and order cancellations in the quarter, it is reducing its second quarter fiscal 2001 (March 2001) revenue forecast from $150-160 million to $120-125 million and its net income (pro forma) from $0.21-0.22 per share to $0.10-0.11 per share. Lou Tomasetta, Vitesse President and CEO, commented, ``Near-term visibility at a majority of our customers has worsened over the last few weeks and we expect this phenomenon to continue into the next quarter. However, we continue to achieve design wins for our upper layer products and we do not see any indications of our customers slowing down development or deployment of next generation systems.'' Tomasetta continued, ``In response to this current slowdown, we will be taking a hard look at managing our cost structure without compromising our ability to roll out new products in a timely manner.''

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