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VTSS Investor Forum

BOD Member Buys More Shares

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SEC Filing 4 released on February 23, 2012

Grant Lyon, BOD member who was added to the board at request of the bond holders in 2009, following the debt restructure.

Purchased 10,000 shares. At a purchase price of $3.6905 share.

Now holding a total of 70956 shares

Posted by christ3opher - 13 years ago | Updated 13 years ago

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Good for him. I could use some indication that someone thinks things might improve.

I was looking at numbers last night and it is all but certain that FY 2012 will show down revenue from FY2011. And this will be the 4th consecutive year of down revenues starting with 2008 when revenue was $228 million. (then $168 in 09, $166 in 10, and $140 in 11). Not a pretty trend.

There is a slight hope that we might see some growth on a quarter over quarter basis this year but only in the 4Q.

Revenue in the march quarter of last year was $38.9 million. No chance of getting anywhere near that this year. Guidance is $30 million +/-.

The June quarter of last year was $36 million in revenue. Very little chance of equaling that this year. To get there VTSS would have to show 20% growth over March of this years revenue stream. Not going to happen.

In the September quarter we MIGHT see some growth over the previous year but only because the previous years september quarter was so weak, $30 million in revenue.

but look at the bright side. Next year it should be pretty easy to show growth from the very low levels of revenue VTSS is hitting this year. And we can give management bonuses for getting the revenue back to levels that are 30-40% less than 4 years ago.

but hey, Mr. Lyon just put up $37,000 with what i have to believe is the expectation he will get something more than that back. And he is an insider and if I remember correctly he has a finance background.

Posted by dlog - 13 years ago | Updated 13 years ago

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As I stated before (See below) hopefully VTSS stock price won't trade on fundamentals, but will get boost to prevent de-listing again.
=======================================

"Only thing that might raise the stock price in the future and give us a boost is the big holders don't want another NASDAQ de-listing for trading under $ 4/sh for sustained period of time. Hopefully they'll push the price to prevent this!"

Posted by Techinvestor - 13 years ago

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maybe you should read this - -

https://listingcenter.nasdaqomx.com/Show_Doc.aspx?File=FAQsContinued.html

(listing requirements per the naz)

sounds like you been cleanin the poop off the bird cage liner again.

i don't mind haters - -an i don't mind frustrated bagholders. . .

but i won't tolerate mis-information - -take it to the Y! board.

____________________________
ps. the issue of board member ownership of shares bought not granted was brought up at the shm - -an mr. lyons listened and acted.

crg said he was 'all in' for his equity investments - tho he has never bought shares with his own money that i have seen reported - -but he might have option grants from before 2006 at very high prices. at least he has not sold all his shares like one ceo i knew - right away - with the explanation that it was for diversification and estate planning - - well - -you can guess what happened to that company. he is doin fine btw as ceo of another public corp. - -

Posted by daWiley1 - 13 years ago

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Tech

You should pump somewhere else - idiot!

"The rules for delisting depend on the exchange and which listing requirement needs to be met. For example, on the Nasdaq, the delisting process is set in motion when a company trades for 30 consecutive business days below the minimum bid price or market cap. At this point, Nasdaq's Listing Qualifications Department will send a deficiency notice to the company, informing it that it has 90 calendar days to get up to standard in the case of the market value listing requirement or 180 calendar days if the issue is regarding the minimum bid price listing requirement. The minimum bid price requirement, which is $1, and the market value requirement (minimum $5 million, provided other requirements are met) are the most common standards"

Below $1.00 bid for 30 days - idiot...

Posted by Satbob - 13 years ago

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I stand corrected- thinking of minimum share price some funds are allowed to own.

Posted by Techinvestor - 13 years ago

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Tech:

A gracefully accepted correction considering the rather aggressive way the correction was proffered.

but they are correct. delisting is under $1.00, we have been there before so we all know this by experience.

Posted by dlog - 13 years ago

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i didn't call anyone any names - btw

i did try to stay within the bounds of the rules set on this forum.

there is more frustration here than any listed stock which sells $30MM of goods per quarter.

maybe crg should start a sub called: Hooked in or: Chip on or: Semi book

come out from behind the cables an backplanes an give the market what it loves to buy up - - social network shares.

well andy is sure right about inefficient market theory - - i bet he delivers another speech at his alma mater, Yale on YouTube about his ventures in Vitesse - - in 2015.

dlog is right about fy 2012 and vtss has been candid about this being the turn year. op revs increase in 4Q and that will show the way to higher valuations.

the stock sitting below $4 makes sure that the bond funds who took $50MM in shares at $4 will not be as inclined to sell at a loss. the market makers will not move vtss over that price until they are sure they have ready buyers --meaning other funds who will pay up. still, either MSPD and AMCC are overpriced or VTSS is underpriced --and the market will eventually correct the comparative valuations as they see further data.

maybe we can hope again for a spurt after the optical conference in l.a. as has happened in the recent past - but really it will take increased operating revs or a huge IP contract that is not guided as expected revenue for 2012 - -this is sure possible as vtss could license FEC, low power or even some of their signal integrity and timing property. i posed the proposition at the shm that CSCO an Huawei are happy to have vtss low power chips but sure would love to see that lower power across the whole backplane - -so get to selling the tech before it is stolen.

Posted by daWiley1 - 13 years ago

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I was able to track down one transaction of our CEO purchasing shares on his own dime. $47,550

SEC filing 4; June 2, 2010 ( prior to 1 for 20 reverse split )

CEO Chris Gardner:

150,000 shares purchased @ 0.317 on 5/28/2010

after this purchase, Gardner owned total 2,349,316 shares

Posted by christ3opher - 13 years ago | Updated 13 years ago

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While we might move around a bit over the next few weeks, etc. I do not see a move until we get to the next earning call. Certainly there will be nothing to go wild about within the earning for the March quarter, but we will be in an interesting place that might yield some positive action – at least it will be the very first opportunity for such action. With the losses narrowing in the June quarter it is possible that ANY surprise to the upside would yield a positive earning quarter in June to be reported in August. However, when we hear the next earnings call we will be nearly halfway through the June quarter and so the guidance that they give for the June quarter could be the first hint of any increase to come – could be. Given that so much Revenue is booked late in a quarter they may not be comfortable projecting at that point; but, in the last conference call CRG used the term “substantially above 1.00” when referring to the Book to Bill at the end of the December quarter. IMHO “substantially” is a pretty great word to hear – Good Luck to all.
Satbob

Posted by Satbob - 13 years ago

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Nice PR news. I was worried that VTSS was late to the LTE market.

BARCELONA, Feb 27, 2012 (BUSINESS WIRE) -- Vitesse Semiconductor Corporation (VTSS, Trade ), a leading provider of advanced IC solutions for Carrier and Enterprise networks, announced today that BridgeWave Communications Inc., the leading supplier of 4G millimeter wave backhaul solutions, will use Vitesse's Serval(TM) Mobile Access Carrier Ethernet Switch Engine (VSC7418) in their next-generation small cell and wireless backhaul equipment. For the millimeter wave equipment market, it is estimated that BridgeWave holds in excess of 50-percent market share.

Recent studies by Dell'Oro Group and other market analysts predict the mobile backhaul market will grow to $9 billion by 2015, including equipment for both transport and routing/switching. In the booming field of small cell base stations, 58-percent of all backhaul connections will be wireless by 2016, using such technologies as microwave and millimeter-wave technology.

"As wireless operators transition from 3G to 4G LTE and LTE-Advanced packetized cellular networks, demands for carrier-class features, nanosecond accurate network timing, and differentiated quality of service increase exponentially," said Idan Bar-Sade, senior vice president of engineering and product management of BridgeWave. "Vitesse's architectural advantages in MPLS networking, IEEE1588v2 timing over microwave and advanced packet queuing are crucial in developing 4G/LTE and small cell backhaul wireless solutions required by next-gen Carriers."

Introduced in December 2011, Serval is quickly becoming the industry's de facto standard for small cell, mobile backhaul and network IP Edge applications. The first in its family, the Serval Switch Engine provides the right combination of highly accurate synchronization and timestamping and on-board intelligence, solving critical data transport challenges facing Carrier deploying 4G mobile and LTE network worldwide. Consuming 2W, the device delivers 75% lower power and 50% lower BOM cost than competitive options. It also offers the most complete Ethernet Operations, Administration & Maintenance (OAM) support, critical for third-part operators and shared RAN network implementations.

"We are extremely excited to work with BridgeWave, not only because of their prominent role in millimeter-wave backhaul, but also because their vision for the growth of the small cell backhaul market as an essential component of the next-generation LTE networking infrastructure," said Uday Mudoi, director of product marketing at Vitesse. "Vitesse is committed to enabling the explosive bandwidth growth of IP Edge and Mobile Access networks with our 1588 PHY- and switch-based timing solutions."

Posted by thereinman - 13 years ago

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