Vitesse Ends Year With $16.6 Million Profit

Improvements in operational efficiency and products contributed to Vitesse Semiconductor Corp. completing its fiscal 2008 year in the black. The Camarillo-based company reported a net income of $16.6 million, or $0.07 per diluted share, on revenues of $228.5 million. For the 2007 fiscal year, Vitesse reported a net loss of $21.6 million, or $0.10 per diluted share, on revenues of $221.9 million. The company has emerged from formidable times a strong and profitable business through improvements to strategic direction, product execution, operational efficiency, and customer loyalty,” said Vitesse CEO Chris Gardner. “While we still have some challenges ahead, we now have a sound base on which to build, and we remain as committed as ever to improving shareholder value,” Gardner said.