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Chip Maker Vitesse Expects 70% Increase in Sales in Fiscal 2001

September 19, 2000|BARBARA MURPHY

Vitesse Semiconductor Corp. in Camarillo, a maker of chips that move data on telecommunications networks, said it expects sales to increase about 70% in the fiscal year that will begin next month.

Based on analysts' estimates, that would mean about $740 million in sales, up from about $435 million in fiscal 2000. Analysts' forecasts range from about $690 million to $800 million, said Yatin Mody, Vitesse vice president and controller.

The comments were made during a presentation to investors at the Credit Suisse First Boston Communications Technology Conference in Santa Barbara. The rate of sales growth would bring Vitesse closer to faster-growing rivals Applied Micro Circuits Corp. and PMC-Sierra Inc., both of which reported sales that more than doubled for the second calendar quarter. Vitesse's sales for the first three quarters of fiscal 2000 rose 51% to $303.7 million.

Sales in the fourth quarter could rise more than 15% from the prior quarter's $114.1 million, Mody said.

Vitesse's stock has climbed 72% this year, while Applied Micro has more than tripled and PMC-Sierra has more than doubled.

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