Vitesse Semiconductor reported record revenues and record income for its third quarter, ended June 30. The company's revenues were $46.1 million, up 15 percent from the previous quarter and up 67 percent for the same period last year.
Camarillo, Calif.-based Vitesse (company profile) said net income was $13.9 million, up from $12.1 million in the preceding quarter and $9 million for last year's third quarter.
Earnings per share were 18 cents, up from 12 cents in the previous quarter.
"We again set records for revenues, operating profit, and net income," said Lou Tomasetta, president and CEO of Vitesse. "Bookings continue to be strong in all of our focus areas."
Vitesse VTSS stock rose 1 11/16 to 34 11/16 in advance of the report, released after market close Thursday.
The company is an anomaly in a week that has brought disappointing news from other major semiconductor players, including Motorola and Advanced Micro Devices.
Vitesse's focus in the white-hot communications arena may be part of the reason the company has made gains, while much of the industry is struggling to stay afloat. Another chip manufacturer that released quarterly results on Thursday, Dallas Semiconductor, also beat analyst estimates largely because of its communications business.
Tomasetta said the company is ramping a fab in Colorado and enhancing its back-end test capability to increase production.