WASHINGTON (dpa-AFX) - Vitesse Semiconductor Corp. (VTSS) Tuesday reported fourth-quarter net income of $1.2 million or $0.05 per share, compared to a net loss of $4.6 million or $0.19 per share in the comparable quarter last year.
On an adjusted basis, net loss narrowed to $0.1 million or break even per share from $6.0 million or $0.25 per share in the previous year period. On average, two analysts polled by Thomson Reuters expected the company to earn $0.04 per share. Analysts' estimates typically exclude special items.
Net revenues for the quarter dropped to $29.47 million from $30.34 million last year, while two analysts had a consensus revenue estimate of $29.85 million for the quarter.
Looking forward to the first quarter, Vitesse expects revenues in a range of $25.0 million to $27.0 million. Analysts currently expect first quarter revenue of $30.72 million.
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