Vitesse Q2?00 CC:
CFO: Gene Hovanek
-Revs=100.2mil, up 50% YoY, 12% QoQ. 189.4 for H1?00, up 48% YoY.
-Net inc=27mil vs. 15.5mil last Y, 23.6 mil last Q.
-Acq of Orologic-450mil in stock-45.6mil chare.
-GM=65.1%, up .5% QoQ.
-R&D=17.1%, will be 17-18% going froward.
-11.4% SG&A.
-942mil in cash.
-DSO RTS QoQ.
CEO: Lou Tomasetta
-100.2mil in revs
-COMM=88.2mil, up 17% QoQ, 65% YoY. TCOM-52mil, up 17% QoQ, 46% YoY. 17.7 mil sold to Lucent, up 10% QoQ, 34.3mil to non-Lucent, up 21% QoQ (Sycamore, Cerent, NorTel and Fujitsu mostly). DCOM-31.2mil, up 20% QoQ, 144% YoY.
-ATE-12mil, down 11% QoQ/YoY-due to falloff at Slumberger.
-GMs up due to stronger yields at Camarillo/CO Springs.
-11.5% of sales in CMOS-will continue to grow, acceleration in H2?00-processors/switches picking up in Q4?00.
-BTB=1.1 for COMM.
-TCOM-OC-192 ramp (5mil this Q-7.5mil next). Flat sales in Q3/Q4. 7 new prods-low power OC-48 tx/rx for optical modules, 68x68 switch.
-Ramps at NorTel (4.5mil), Sycamore, Cerent-new designs-bulk of OC-192 PHY at Fujitsu. Lucent using pointer processors, previously done with ASICs-a 3 chip set-OC-192 pointer proc, OC-12 tirbutary proc, OC-192 switch.
-DCOM-6 CMOS, 4 GaAs prods-hub controller, 2.5/10Gig laser driver, 2.5Gug post-amps, Rapid movement from 1Gbps FC to 2G serial form, to 10G parallel optic form. Extreme Networks a new custoerm-3mil this Q (6-8mil for Y expected).
-Orologic-traffic management-complement TeraPower/XaQti-sophisticated duplex OC-48 in 2-chip soln. Used with switch fabrics, PHY, can drive new rev stream. Significant revs in 2001. Whole market=6bil in 2002 (1bil net processors, 3bil switch fabrics, 2bil PHY/line cards). Still ASIC-dominated-25-30% available to merchants in 2002, 60-70% in 2005.
-Want to be dominant player via internal investment, acqs.
-This Q-significant events-sample in June-CMOS framer at OC-48 rates-reduces power by factor of 2 over SiGe counterparts by using .18um CMOS. Offers full OC-48 Si soln, from PHY to switch.
-TeraPower shipments, Pacemaker2.5, Gigastream 200Gbps fabric.
-TCOM-OC-192 processors-pointer proc, OC-12 trib proc (T1 streamsOC-12 inputs for OC-192), switch. Lucent is the alpha site. Production in Q4, ramp to 10mil in 2001.
-Expect TCOM/DCOM growth in range of 15% QoQ. 13-15% for COMM total, ATE lower, 10-15% total revenue growth expected QoQ.
Q&A:
-Significant transition to CMOS-broad COMM-expect 2001-20-25% in CMOS. Grow continually to 50-60% 3-4 years out. Process-agnostic (!!!) company-OC-768 in InP HBT (H-GaAs VI).
-CMOS integrates all OHY gates-not as much margin for error as with GaAs, but more integrateable. Standalone PHY still is dominated by GaAs.
-DCOM port count=2,9mil, up 11% QoQ, ASPs rose.
-OC-192 main customer is Lucent, Fujitsu #2. Adding custom features for Fujitsu.
-Most OC-48 parts are reusable for when edge/access rates reach 2.5G.
-Next Y, 50mil in revs from NP/switch, 15-20mil in TCOM (pointer proc-Lucent-VTEK).
-Have not heard any supply concerns for OC-192 OCs.
-at NorTel/Cambrian-additional six sockets won. 10% customer by Q4. 10% is a possibility by Q4 for Sycamore, Cisco/Cerent also. |
