the same time, its volume remained over 486 shares traded, which is quite an unusual value for VTSS as compared to its average volume of 211 thousand shares.Historical data shows that after the company reported its Q3 earnings, VTSS traded volume jumped up immediately. Though, it declined in short and the price started to move down. VTSS has also released a couple of positive press announcements, but it seems that they didn’t reflected much on its price.[BANNER]
Over the last week, no more news on the pink sheets company could be found and no one knows what’s to follow.
Vitesse Semiconductor Corporation is a provider of advanced integrated circuits utilized primarily by manufacturers of networking systems for Carrier, Enterprise and Storage communications applications. Historically, the company has traded much higher over the past six months, though since May the stock has moved down.
Last week, Vitesse reported improved income of $33 million, or $0.99 per diluted share. The revenues for the quarter ending this June reached $37.5 million, which is approximately $1 million higher as compared to the year before. However, this year the company’s development and research expenses increased significantly and its gross profit decreased.
Though the reported earnings, VTSS has more liabilities than assets on its balance sheet and it still has net losses and long-term debt to cover.
Based on these financial results and considering the fact that the stock is currently falling down, the investors should continue to observe the future development of VTSS.
