WASHINGTON (dpa-AFX) - Vitesse Semiconductor Corp. (VTSS) Tuesday reported second-quarter net loss of $6.2 million or $0.25 per share, compared to $9.0 million or $0.37 per share last year. Shares of Vitesse rose over 16 percent in after hours on the news.
On an adjusted basis, net income for the quarter was $0.3 million or break even per share, compared to loss of $2.1 million or $0.09 per share last year.
Net revenues for the quarter dropped to $29.7 million from 36.9 million last year.
Costs and expenses for the quarter dropped to $28.6 million from $38.0 million last year.
Looking forward to the third quarter, Vitesse expects revenues in a range of $28.5 million to $31.5 million.
VTSS closed Tuesday's trading on the Nasdaq at $2.81, down $0.01 or 0.35%. In the after-hours, the stock gained $0.44 or 15.66%.
Copyright RTT News/dpa-AFX
© 2012 AFX News
