Vitesse Semiconductor Corp. (Camarillo, CA), a designer and manufacturer of silicon solutions used in networking, communications and storage industries, reported results for the first quarter of fiscal 2005 ended December 31, 2004. Revenues in the first quarter of fiscal 2005 were $44.5 million, compared to $50.3 million in the first quarter of fiscal 2004, and $52.0 million in the fourth quarter of fiscal 2004.
On a generally accepted accounting principles (GAAP) basis, net loss for the first quarter of fiscal 2005 was $17.2 million, or $0.08 loss per share, compared to net loss of $7.9 million, or $0.04 loss per share, in the first quarter of fiscal 2004, and net loss of $3.1 million, or $0.01 loss per share, in the fourth quarter of fiscal 2004.
Non-GAAP net loss for the first quarter of fiscal 2005 was $9.6 million, or $0.04 loss per share, compared to non-GAAP net income of $0.2 million, or $0.00 income per share, in the first quarter of fiscal 2004, and non-GAAP net loss of $3.9 million, or $0.02 loss per share, in the fourth quarter of fiscal 2004.
