Vitesse Posts Revenue of $29.7 Million

Vitesse Semiconductor reported quarterly revenue of $30.3 million for its third fiscal quarter, ended 30-June-2012, compared to $29.7 million in the second quarter of fiscal year 2012 and $36.0 million in the third quarter of fiscal year 2011. Net income (GAAP) was $4.7 million.

Product revenues were $25.7 million compared to $27.2 million in the second quarter of fiscal year 2012 and $31.9 million in the third quarter of fiscal year 2011.

“Our vision and operational management continue to deliver, resulting in both operating and net income profitability this quarter,” said Chris Gardner, CEO of Vitesse. “Vitesse’s strategy to leverage our disruptive technology to gain share in the high-growth Carrier and Enterprise networking markets is also working. Innovations such as VeriTime™, our patent-pending distributed timing technology with the industry’s highest accuracy IEEE1588v2 timing, strengthen our market leadership.” http://www.vitesse.com 07-Aug-12