Monday, October 3, 2011

Vitesse Cuts Guidance On Soft Demand

Camarillo-based Vitesse Semiconductor, the maker of communications ICs, has cut its fourth quarter estimates, saying today that it is seeing "softening of global demand" for its products, particularly in the Asia Pacific region. The firm, whose chips are used in high speed networking equipment, said it is now expecting revenues of $29 to $30.5M, down from an earlier forecast of $35.0 to $38.0M. Due to the slowdown in demand, the firm said it had taken moves to "reducing operating expenses"--however, the firm did not fully detail what exactly those moves included and if any staff was impacted.