News Article
Vitesse's sales fall over 75% in one year
Vitesse reported revenues of $39.1 million for the quarter ending December 31, 2001, an increase of 5% from $37.2 million in the September 2001 quarter. The revenue figure was down 76% from the $165.1 million recorded in the December 2000 quarter.
The company also reported a loss of $24.3 million, or 12 cents per share, compared with a profit of $47.6 million, or 25 cents per share, from the year-ago period. In the September 2001 quarter, losses were $28.1 million or $0.14 per share.
Vitesse President and CEO, Lou Tomasetta, commented "While the last few quarters have been very difficult, we are now seeing signs of stability in our markets. We are therefore cautiously optimistic about a slow, but steady improvement in demand in calendar 2002." He said that Vitesse expects to post a loss of 10-12 cents per share during the March 2002 quarter, on revenues in the $39-43 million range.
Jennifer Goman
Tel. +1 805 388 3700
E-mail: jgoman@vitesse.com
Web site: http://www.vitesse.com
