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The big new product

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Apparently the new product that is selling like gangbusters, $7 million in new revenue this year and double that in 2012 is highlighted in this news release. i am not a EE. Can anyone shed some light on this?

http://www.businesswire.com/news/home/20110307005746/en/Vitesse-Enhances-Technology-Offering-Mobile-Backhaul-Business

Posted by dlog - 14 years ago

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dlog...as an ex-stockholder of VTSS I can only say that "new products" and other such PR bullshit does not mean squat with this mgt. team. It goes back to the days of Lou Tomasetta, with all of the graphs, dog and pony slide shows showing how in the year 2010 Vitesse will triple their revenue with the famous RAMPING of NEW products. "The design wins will show up to the bottom line starting in 18 months,etc..." It is all shareholder manipulation. Lou is in court now (I presume) for his "alleged" shareholder manipulations. I hope they bury him alive. What we have are a small group of what I believe to be sociopaths, white collar sociopaths that don't care what they do to other people financially. Lou just built a...what? 12,000 sq. ft mansion; meanwhile the owners of Vitesse are sucking wind with devastating losses. The new mgt. has surrounded himself with self appointed board members who pass out bonuses and raises meanwhile the shareprice is selling for pennies (pre-20/1 reverse split). A real board would be paying this CEO about $250,000 per yr. with a bonus of $250,000 for every dollar the shareprice rises and remains for at least a month. The more money the shareholder makes, the wealthier the CEO becomes. The compensation package he has given himself does not help the owners of VTSS at all. To sum it up....When revenue doubles, they may be on to something; until then the PR announcements and the few million from IR revenue is just extra money to be handed out in stock options for employees, and company picnics.

Posted by OKSPSNOW - 14 years ago

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Here is something you don't see often. ColdWater Creek, a purveyor of womens clothing has lost its way, badly. Sales which were about $1 billion annually, are down 30% year over year. the stock is down 90% or so (sound familiar). Yesterday the compensation committee at the request of the CEO, reduced his salary to $0 per year.

http://biz.yahoo.com/e/110831/cwtr8-k.html

I'm sure the guy is not hurting for money and I am certain he personally owns a ton of stock.

Posted by dlog - 14 years ago | Updated 14 years ago

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This will never happen at Vitesse, the board is very happy with CRG! Only in America, lets hope the board doesn't shower him with a juicy part of that 7 mil next year.
Any idea how much the new guy is making??

Posted by GARIF - 14 years ago

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To paraphrase Mr. Kinky Friedman, Micro Cap Gardner does for shareholder value what pantyhose did for foreplay....

I'll note that Transwitch (TXCC) which I bought, and then sold at a small profit, had sales of $7.1 million last quarter....and lost money. They also have a HIGHER market cap ($86 million) than Vitesse ($84 million).......

That is a tribute to the hard work, not to mention R&D vision of Mr. Micro Cap......and no Mr. G, I have no intention of buying this stock as long as Gardner is in any way affiliated with Vitesse. I learned the hard way.

Posted by altrfan - 14 years ago | Updated 14 years ago

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FNSR reported yesterday. They said the china telecom business is down 30% from the peak but is improving and growing (from 2-3 months ago) now. They characterize the downturn as an inventory correction which typically takes 2 quarters to work through. Just interesting about China.

Posted by dlog - 14 years ago | Updated 14 years ago

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Dlog,

Will add to your comments here...in the last PMCS CC (July 21) their CEO Greg Lang , answering a question from Goldman Sachs, also stated (as far as the optical biz is concerned) that China has been recovering for PMCS also, and they expect continued growth this quarter.

Looked real hard at VTSS at $3.20 this morning. Real hard. Was close to buying. Then remembered your recent post on compressed valuations......saw MSPD at $5.10 with a P/S of 1.02........Heavens to effing Betsy!

Blood in the streets, falling knives and all that. Betsy said buy MSPD at $5.10....so I did.

Update on TXCC....they certainly sucked in their last Q....and will suck this eggs this Q also....but they also put out a press release several weeks ago that Samsung has licensed the TXCC HDMI technology for Samsung's next generation HD televisions. No revenue from this until the middle of next year, but TXCC is a stock I am keeping a close eye on. Would like to see it drop back under $2.40 or so.

Posted by altrfan - 14 years ago

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