Vitesse Semiconductor Breaks Revenue, Income Records in 1st Quarter

Vitesse Semiconductor Corp. of Camarillo has reported record revenues and net income for the first quarter of fiscal 1997, which ended Dec. 31.

First-quarter revenues were $21.8 million, a jump of 56% over the $14 million in the first quarter of fiscal 1996 and an increase of 14% over the $19.1 million recorded in the fourth quarter of fiscal 1996.

Net income for the first quarter was $6 million, or 25 cents per share, compared with net income of $1.8 million, or 10 cents per share, in the first quarter of fiscal 1996. The net income for the fourth quarter of fiscal 1996 was $4.5 million, or 21 cents per share.

Vitesse, which designs and manufactures equipment for telecommunications, data communications and automated test systems, completed a secondary offering of 3.45 million shares of common stock at $36 per share Nov. 14.