Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (2974)	10/18/1999 4:23:00 PM
From: Lee	Respond to of 4710

SJS,..RE:.Earnings DJ Vitesse Semiconductor 4Q Revenue $80.6M Vs $54.6M VTSS DJ Vitesse Semiconductor 4Q Net 26c/Diluted Shr Vs 19c Single line news items, more to come. Estimate was for 0.25. Cheers, Lee

To: SJS who wrote (2974)	10/18/1999 4:26:00 PM
From: Lee	Read Replies (1) \| Respond to of 4710

More earnings report CAMARILLO, Calif.--(BUSINESS WIRE)--Oct. 18, 1999--Vitesse Semiconductor Corp. (Nasdaq:VTSS.O) Monday reported revenues and net income for the fourth quarter and the fiscal year ended Sept. 30,1999. Revenues in the fourth quarter of fiscal 1999 were $80.6 million, an increase of 48% over the $54.6 million (restated to account for acquisitions completed in fiscal 1999) in the fourth quarter of fiscal1998. Net income for the fourth quarter of fiscal 1999 was $21.6 million, or $0.26 per share (taxed at 33%), compared with net income of $15.8 million, or $0.19 per share (taxed at 18% and restated to account for acquisitions completed in 1999), in the fourth quarter of fiscal 1998. Revenues for fiscal 1999 were $281.5 million, an increase of 59% over the $176.9 million for fiscal 1998 (restated to account for acquisitions completed in 1999). Net income for fiscal 1999 was $69.9 million, or $0.84 per share (taxed at 33%), compared with net income of $50.5 million, or $0.63 per share (taxed at 15% and restated to account for acquisitions completed in 1999), for fiscal 1998. Vitesse President and Chief Executive Officer Lou Tomasetta said: "I am pleased to report that we once again set records for revenues, operating profit and net income. Revenues increased by 48% over the fourth quarter of 1998, driven by continued strength across all of our communications product areas. "Fibre Channel and Gigabit Ethernet products remained especially strong. Our manufacturing groups once again stepped up production levels in order to meet our growing demand."