Sunday, October 2, 2005

Vitesse Trims Financial Guidance

Vitesse warned that revenues for its fourth quarter of fiscal 2005, which ended on September 30, will be below previous expectations. The company now expects revenue of $48 million, compared to an earlier guidance range of $52 to $53 million established in July. The company also anticipates that revenues in the first fiscal quarter of 2006 ending December 31, 2005 will be $53 to $54 million.

Lou Tomasetta, Vitesse President and CEO, commented, "During the quarter we saw some softness in turns business and delays in the production ramp of our SAS products. Additionally, we were unable to obtain all of the required material from our assembly subcontractors in time to ship by the end of the quarter as assembly lead times have lengthened significantly. We were, however, encouraged to see continued design-win activity and double digit growth in sales in our Ethernet business."

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