Vitesse Semiconductor reported revenues of $41.7 million in the first quarter of fiscal year 2010, compared with $49.8 million in the first quarter of fiscal year 2009. The company recorded a net loss of $33.9 million in the first quarter of fiscal year 2010 compared with a net loss of $190.0 million in the first quarter of fiscal year 2009.
“First quarter revenue was up 6% compared to the previous quarter, reflecting improved market conditions. Our core revenue, consisting of Carrier and Enterprise products, in the first quarter increased approximately 10% sequentially and 7% year-to-year,” said Chris Gardner, CEO of Vitesse. “The cost cutting measures we implemented last year are working. We significantly narrowed our operating loss from the previous quarter. We are at the beginning of an ambitious new product cycle and continue to invest in R&D to support that. As revenues continue to grow, we expect to see additional operating leverage and improved financial results.”http://www.vitesse.com
