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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (44585)	3/27/2001 9:27:39 AM
From: Proud_Infidel	Respond to of 70976

Vitesse cuts forecast again as market conditions worsen Semiconductor Business News (03/27/01 05:52 a.m. PST) CAMARILLO, Calif.--For the second time in three weeks, Vitesse Semiconductor Corp. here is cutting its revenue and earnings estimates for the current fiscal quarter due to weaker demand for products and an increase in cancellations of orders. The supplier of gallium-arsenide (GaAs) and high-speed ICs said it now expects revenues of $120-to-125 million in the quarter, which ends this month, compared to a previously downgraded estimate of $150-to-160 million (see March 5 story). The lower sales will drive earnings down to a range of $0.10-to-$0.11 per share, compared to $0.21-to-$0.22 in the previous forecast, said the company. If Vitesse's guidance holds, the company's revenues will be 27% lower than $165.1 million in the prior fiscal quarter, which ended Dec. 31. "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," warned Lou Tomasetta, president and CEO of Vitesse. "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," he added.