Vitesse Earnings Increase 40%

Vitesse Semiconductor Corp., the top maker of non-silicon chips that speed up telecommunications, said its profit jumped a better-than-expected 40% in the fiscal third quarter to $19.4 million, or 24 cents a share, from $13.9 million, or 18 cents, a year ago. Revenue climbed 58% to $73 million. The Camarillo-based company expected to report 23 cents a share, the average estimate of analysts surveyed by First Call Corp. Vitesse makes high-performance telecommunications semiconductors based on gallium arsenide rather than silicon. Those chips are harder to make, giving Vitesse a competitive edge, analysts said. Vitesse shares closed up 75 cents to $71.75 on Nasdaq. The results were released after the markets closed.