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Vitesse Update

They're getting closer

Craig Matsumoto

August 13, 2008

1 Min Read
Vitesse Update

5:55 PM -- Vitesse Semiconductor Corp. (Nasdaq: VTSS) hasn't given out a proper earnings report since January 2006, although executives have been giving some balance sheet figures on quarterly "update" calls. (Can't call them earnings calls because profit/loss figures aren't disclosed.) Worse, Vitesse has kept pushing back the date of its proper Securities and Exchange Commission (SEC) filings. (See Vitesse Extends Audit.)

At long last, some of those catchup filings will come out. Here's the schedule:

  • August: Jumbo 10-K that includes financials for fiscal 2006 and 2007. Vitesse's fiscal year ends in September.

  • September 3-4: A Vitesse investor conference -- the first in three years -- to be held in New York.

  • November: 10-Q filings for the first three quarters of fiscal 2008 -- meaning the December, March, and June quarters.

  • Possibly December: 10-K filing for fiscal 2008.

Vitesse doesn't yet need to file restated earnings for 2005, thanks to a deal with the SEC.

Oh, and if you're wondering why Vitesse is so far behind, it's because of what went down in the spring of 2006. (See Vitesse Brass Placed on Leave, Vitesse Woes Worsen, and Vitesse Execs Get the Axe.)

CEO Chris Gardner is pinning Vitesse's future on carrier Ethernet. Fiber-to-the-home is becoming important to the company, too, as noted by the recent ODM win in Taiwan. (See CyberTAN Uses Vitesse.)

— Craig Matsumoto, West Coast Editor, Light Reading

About the Author(s)

Craig Matsumoto

Editor-in-Chief, Light Reading

Yes, THAT Craig Matsumoto – who used to be at Light Reading from 2002 until 2013 and then went away and did other stuff and now HE'S BACK! As Editor-in-Chief. Go Craig!!

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