VITESSE REPORTS RECORD REVENUE AND PROFIT
CAMARILLO, Calif.--(BUSINESS WIRE)--April 8, 1999--Vitesse Semiconductor Corp. (Nasdaq:VTSS) Thursday reported revenues and net income for the second quarter of fiscal 1999 ended March 31, 1999.
Revenues in the second quarter of fiscal 1999 were $66.9 million, an
increase of 66% over the $40.2 million in the second quarter of fiscal
1998 and an increase of 11% over the $60.2 million in the first quarter of fiscal 1999.
Net income for the second quarter of fiscal 1999 was $17.6 million, or
$0.22 per share (taxed at 33%), compared with net income of $12.1
million, or $0.15 per share (taxed at 20%), in the second quarter of
fiscal 1998 and net income of $15.4 million, or $0.19 per share (taxed
at 33%), in the first quarter of fiscal 1999.
For the six-month period ended March 31, 1999, revenues were $127.0
million, a 70% increase over the $74.9 million recorded in the six-month
period ended March 31, 1998. Net income for the six-month period ended
March 31, 1999, was $33.1 million, or $0.41 per share (taxed at 33%),
compared with $22.4 million, or $0.29 per share (taxed at 20%), for the six-month period ended March 31, 1998.
Vitesse President and Chief Executive Officer, Lou Tomasetta, said: "I
am pleased to report another successful quarter. Revenues increased by
66% over the second quarter of fiscal 1998 due to continued strength in our focus areas of communications and test equipment." "As a result of continued improvements in yields and production efficiencies, our
manufacturing groups, both in Camarillo and Colorado Springs, were able to generate a record volume of shipments," Tomasetta added. |
