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Vitesse Semiconductor Company

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BUSINESS
November 19, 1991 | PATRICE APODACA, TIMES STAFF WRITER
For several years, Vitesse Semiconductor Corp. in Camarillo has struggled to fulfill its vision of creating a big worldwide market for its gallium arsenide chips, which make computers and communications equipment run faster and with less power than the ubiquitous silicon chip. It's been slow going for Vitesse, which is one of a handful of small companies making gallium arsenide chips that have poured millions of dollars into research and development.
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BUSINESS
January 26, 1993
Vitesse Semiconductor Corp. of Camarillo reported a $6.5-million loss for the first quarter that ended Dec. 31. For the same period the previous year, the company reported net income of $268,000. The company, which earlier this month laid off 12% of its work force, also reported a revenue decrease of 34% in its first quarter to $5.3 million, down from $8 million in the same period a year before.
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BUSINESS
February 4, 1992
Vitesse Semiconductor Corp., a Camarillo manufacturer of gallium-arsenide computer chips that went public in December, reported a $268,000 profit for its fiscal first quarter that ended Dec. 30. A year earlier, Vitesse lost $3.23 million. Vitesse's revenue in the latest quarter totaled $8.04 million, an 85% increase from $4.35 million in revenue a year before. The company's results in the latest quarter were helped by a onetime gain of $202,000 from the conversion of debt to equity.
BUSINESS
December 1, 1992
Worcester, Mass.-based Norton Co. has cut its stake in Vitesse Semiconductor Corp. of Camarillo by 105,000 shares. In transactions taking place between Oct. 16 and 20, Norton cut its holdings in Vitesse by less than 1%, bringing its total stake in the company to 4.9%, or 698,333 common shares.
BUSINESS
December 1, 1992
Worcester, Mass.-based Norton Co. has cut its stake in Vitesse Semiconductor Corp. of Camarillo by 105,000 shares. In transactions taking place between Oct. 16 and 20, Norton cut its holdings in Vitesse by less than 1%, bringing its total stake in the company to 4.9%, or 698,333 common shares.
BUSINESS
January 21, 1992
Vitesse Semiconductor Corp., a Camarillo maker of computer circuits, said it earned $268,000 in its fiscal first quarter that ended Dec. 30, contrasted with a year-earlier loss of $3.2 million. Revenues jumped 85% to $8 million from $4.3 million a year earlier, Vitesse said. The first-quarter profit included a onetime gain of $202,000 from the conversion of some debt to equity, the company said. The higher revenues were largely due to a surge in production revenue, to $4.
BUSINESS
November 24, 1992
Vitesse Semiconductor Corp., a maker of gallium arsenide computer chips, said it expects to report a loss for its fiscal first quarter ending Dec. 31. The Camarillo company blamed the anticipated loss on continued weakness in the high-performance computer and Japanese markets, which has resulted in lower than expected orders. Vitesse also said its revenue for the current quarter would fall below the previous quarter's $9.9 million.
BUSINESS
May 12, 1992 | JACK SEARLES
Vitesse Semiconductor Corp. of Camarillo is part of a consortium that is developing low-cost, low-power chips that the company says will vastly increase the speed of communication between computers and high-performance disk drives. The new chips, being developed in cooperation with Interphase Corp. and Seagate Technology, will allow data communications at speeds of slightly more than 1 billion bits per second, Vitesse spokesman Robert Turnage said.
BUSINESS
December 17, 1991
Vitesse Semiconductor, a Camarillo maker of gallium-arsenide computer chips, said it has made an initial public offering of 3.2 million shares at $9 a share. Net proceeds from the offering--expected to total about $25 million--will be used to buy equipment and reduce debt and for working capital, Vitesse said.
BUSINESS
October 29, 1991
Vitesse Semiconductor Corp., a Camarillo maker of computer circuits, said it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of 3.2 million shares of common stock. The offering price of the stock is expected to be between $8 and $9 a share. The offering will be managed by Robertson, Stephens & Co. in San Francisco and Prudential Securities in New York, Vitesse said.
BUSINESS
November 24, 1992
Vitesse Semiconductor Corp., a maker of gallium arsenide computer chips, said it expects to report a loss for its fiscal first quarter ending Dec. 31. The Camarillo company blamed the anticipated loss on continued weakness in the high-performance computer and Japanese markets, which has resulted in lower than expected orders. Vitesse also said its revenue for the current quarter would fall below the previous quarter's $9.9 million.
BUSINESS
November 3, 1992
A Massachusetts company has cut its stake in Vitesse Semiconductor Corp. in Camarillo, selling 145,000 shares between June 25 and Oct. 16, according to a Securities and Exchange Commission filing. With the sale, Norton Co., a Worcester manufacturer of abrasives and construction and plastics products, reduced its holdings in Vitesse to 5.5%, or 783,333 shares. In addition, on Aug. 24 Norton transferred 4,816 shares of Vitesse's stock to Victorian Partnership of Rancho Dominquez, Calif.
BUSINESS
October 27, 1992
Vitesse Semiconductor Corp. in Camarillo said it lost $469,000 in its fiscal fourth quarter, compared with a net income of $202,000 a year earlier, because of a global slowdown in high-performance computer development. But for its full fiscal year, the company posted a profit for the first time since its founding in 1984. It earned $704,000 (including a $202,000 extraordinary gain), compared with a loss of $2.9 million a year earlier.
BUSINESS
June 9, 1992
Vitesse Semiconductor Corp. in Camarillo said it joined with Martin Marietta Corp. to form a center in Littleton, Colo., for the design of military-related electronic circuits. Vitesse specializes in gallium arsenide semiconductors, which can provide greater speed and power than traditional chips made from silicon. It is joining forces in Littleton with Martin Marietta's astronautics group, a Denver-based unit that makes space and defense products.
BUSINESS
May 12, 1992 | JACK SEARLES
Vitesse Semiconductor Corp. of Camarillo is part of a consortium that is developing low-cost, low-power chips that the company says will vastly increase the speed of communication between computers and high-performance disk drives. The new chips, being developed in cooperation with Interphase Corp. and Seagate Technology, will allow data communications at speeds of slightly more than 1 billion bits per second, Vitesse spokesman Robert Turnage said.
BUSINESS
January 21, 1992
Vitesse Semiconductor Corp., a Camarillo maker of computer circuits, said it earned $268,000 in its fiscal first quarter that ended Dec. 30, contrasted with a year-earlier loss of $3.2 million. Revenues jumped 85% to $8 million from $4.3 million a year earlier, Vitesse said. The first-quarter profit included a onetime gain of $202,000 from the conversion of some debt to equity, the company said. The higher revenues were largely due to a surge in production revenue, to $4.
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