Vitesse Posts Revenue of $44 Million, up 5% Sequentially

Vitesse Semiconductor reported second quarter 2010 (ended 03-Mar-2010)revenues of $43.9 million, compared with $34.6 million in the second quarter of fiscal year 2009. Operating income was $3.0 million, compared with an operating loss of $6.4 million in the second quarter of fiscal year 2009. There was a net loss of $34.1 million, compared with a net loss of $7.1 million in the second quarter of fiscal year 2009, including a $30.4 million non-cash embedded derivative expense.


"We are very pleased that we returned to solid operating profitability on growing revenues and continued tight expense control. Second quarter revenue was up over 5.4% compared to the first quarter, reflecting continued improvement in the global economy and strength in our markets," said Chris Gardner, CEO of Vitesse.
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