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Technology Stocks : Vitesse Semiconductor

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To: The ChrisMeister who wrote (1851)	10/12/1998 8:00:00 PM
From: MoonBrother	of 4710

Another piece ------------------- 09:25am EDT 12-Oct-98 Needham & Co. (Peter Dale 212/371-8300) CTXS HYSL INPR EM NEEDHAM MORNING RESEARCH SUMMARY Needham & Company, Inc. (212) 371-8300 Equity Research Trading Desk October 12, 1998 (212) 371-0312 800-843-4446 Equity Research Morning Summary Vitesse Semiconductor Corp.(VTSS/OTC)$18.88 FY Revenues (mil) EPS Analyst: David Wong, (212)705-0314 9/00E: $403.0 $1.22 Strong Buy. 9/99E: $290.0 $0.87 ú Vitesse will be reporting fiscal year end results on Thursday, October 15th. This is a week earlier than the company had originally indicated. We think that VTSS may have brought forward the earnings release date because they have good results to report. ú We are estimating sequential revenue growth of about 17% to $54 million, towards the high end of street estimates. We believe that bookings will grow about 10% sequentially for a book to bill of 1.17. ú In the longer term, we think that 1999 will be a year of continued 50% per year top line and bottom line growth for VTSS, driven by strong demand for 2.5 Gb/s OC-48 wavelength division multiplexing products in Telecoms, and fibre channel products in data storage.

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