Vitesse Loss Narrower Than Estimates; Stock Up 4%

(RTTNews) - Vitesse Semiconductor Corp (VTSS) Thursday reported fourth-quarter net loss of $2.5 million or $0.04 per share compared with a loss of $5.8 million or $0.10 per share last year.

Excluding items, adjusted loss for the quarter was $0.01 per share compared with a loss of $0.08 per share a year ago.

Revenues for the quarter were $28.7 million compared with $26.9 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.04 per share on revenues of $27.9 million for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, the company expects revenues of $24 million to $26.5 million, while analysts expect $26 million.