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VTSS Investor Forum

Questions concerns for Feb 4??

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http://www.businesswire.com/news/home/20110124005387/en#.Uun4APldVAU
For the privileged few( mostly analysts) whose call will be allowed to filter through, please inquire about the health of the TIGER for us... Is it being widely accepted, is it king among its competitors? or did the uncertainty surrounding its mother/father stunt its growth.

CRG I know you peek at this forum from time to time, what's happening with the BIGGEST switch Vitesse has brought to life so far??

Posted by GARIF - 9 years ago

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I just want to know this: given the problematic macro environment, is VTSS still on track to be profitable by the June quarter, growing new product revenue at nearly 100% per year and still raking-in the design wins (in descending order of importance)?

Posted by phobos - 9 years ago

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is this problematic macro enviornment that you speak of, a USA problem alone? I see China contributing in a big way as far as macro enviornment.

http://theenergycollective.com/jeffstjohn/327826/china-wants-time-use-pricing-2015-one-meter-home-2017

I believe Phobos previously posted the above site


even the good ole USA looks to be contributing in some way, most likely will be on a substantial time delay

http://www.informationweek.com/government/cloud-computing/social-security-administration-to-build-private-cloud/d/d-id/1113519

Posted by christ3opher - 9 years ago | Updated 9 years ago

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No argument Chist3opher. This is a real worry for me! I do however think that VTSS will be OK if they can lead some market in all of this. They're already going into a headwind as the overall (stock) market seems set to decline. I would like to hear CRG reiterate his projections for growth moving forward. It wouldn't hurt to see some evidence of that growth at the call, but they gave the previous quarter's call so far into the next one that it's hard to understand how they could be very far off. I do think that VTSS will do alright if they are doing as well as they say they are doing, but I do want to know ... it seems like a tough macro environment.

...call me nervous.

...a really good sign though --> http://t.co/pMsi2nFap1

Posted by phobos - 9 years ago | Updated 9 years ago

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"Over the long term, PMC-Sierra is well positioned for growth and market share gains in server/storage, wireless infrastructure and optical communications. We expect LTE build out in China, cloud and data center build outs, and storage demand to increase substantially, each of which will act as a solid catalyst for the company through 2014."

LTE and Cloud is Vitesse strength, rain or shine this process is moving forward, it's a world addiction! its been linked to Bee disappearance, cancer to users... but hey! it's all about the growth of the process.

I once shared an event I witnessed in the backwoods of Honduras where a wife was telling her husband about the need of milk(formula) for the kid, husband responded "pero necesito minutos para mi telefono" "but I need minutes for my phone" this was a family living in a mud type dwelling on the side of the road.
I read about Huawei wanting to bring the last "unconnected" regions of the world on board, well it's going to happen sooner than not!! I trust vitesse will be there.

I remember in the WORLDCOM incident how Bernie E didn't use electronic stuff... My hero!!!!!!!!

Posted by GARIF - 9 years ago

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For the first time in time too long vitesse beat the numbers! macro environment(hp...) did not stop her. CES and IoT will allow her to enjoy the best of margins. Some billion dollar outfit is about to take her technology global.

Guidance for Q2 is not very comforting but according to our fearless leader NO WORRIES promises will be met.
He's been adding to his frequent miles visiting IoT customers all over the globe.
CES seems to be making strong traction which should reflect in Q2 numbers.

All in all this report should keep the stock from plummeting too much tomorrow.

Peace

Posted by GARIF - 9 years ago

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INTERESTING! this from the Yahoo board.

Three insiders sold shares @3.60 on Friday 31/2014
It is interesting that there was a concerted effort by Chris, Martin and Nuss to sell less than 1% of their options just two days prior to earning announcement:

Sale price $3.60/share, Edgar repot on 02/01/2014
CRG : sold 15716 shares, still holding 620,089 shares
Martin S: sold 7126 shares, still holding 298,735 shares
Nuss: sold 3496 shares, still holding 163,704 shares

Most companies have a quiet period whereby insiders are not allowed to initiate any transaction before and after the earning announcement, I maybe wrong!

Today's closing @3.60 is not a surprise, it is the price that insiders sold before earnings! Less
Sentiment: Strong Buy

Posted by GARIF - 9 years ago

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sorry GARIF, not very interesting at all.

the three insider sales you are commenting on are all shares automatically sold to satisfy tax withholding obligations.

come on dude, please read the filing before passing on uneducated statements from the Y board.

Posted by christ3opher - 9 years ago | Updated 9 years ago

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Craig-Hallum calls "BS" on VTSS as they downgrade from "buy" to "hold". Even the softball throwing ANALysts are starting to get fed-up. If there is not the predicted operating profit by the third quarter (September), then this will quickly revert to being a $2 stock, and it will either be taken private, sold or closed. Martin will not suffer a money pit in perpetuity. This was an ugly, ugly quarter (just back out the IP).

http://finance.yahoo.com/news/vitesse-downgraded-hold-buy-craig-125819311.html

The one bright spot I saw was the end to net neutrality ending the moral hazard of service providers paying for capital build-out and content providers reaping the rewards: the end of neutrality makes a persuasive case for capital build-out. Although, obviously this might effect China and Europe less.

Posted by phobos - 9 years ago | Updated 9 years ago

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GARIF . . . your posts remind me of that pumper- clown from back in the day (Gesh) that use to leave these long-winded rolling tombs - just so he could see his drivel in "print" - when we were on the other forum. If you believe anything that comes out of the mouth of CRG I feel sorry for you. CRG speaks and a bear shits in the woods, what is the difference . . . NOTHING! The guy took over in like late 2007, and he has delivered what to us exactly? Why this clown remains as the CEO of VTSS is a mystery to me.

Posted by G - 9 years ago

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I just did some figuring. CRG claimed that the second half of the year is usually better. OK, I checked this. He's right. The second half of fiscal '13 had about 6% higher revenue than the first half. We can guestimate the first half: $27.1M + $25M (est) = $52.1M would be revenue for the first half of 2014. A 6% increase in the second half would place revenues for the second half in the $55.2M range for a total revenue for the year of around $107.3M. This would be a 3% growth in revenues yoy. What am I missing? Where is the value?

All I can say is (to CRG), "Prove me wrong!"

In all fairness, it will also be the year when new revenue levels surpass legacy product revenues. Does this place break-even around $28M? Adding the operating loss back into revenues, I get around $29M. Did we (and the market ) overestimate just how spectacular a feat operating break-even would be?

Posted by phobos - 9 years ago | Updated 9 years ago

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Well, all the excitement is over regarding the "Potential great news" CRG was going to announce at Conference Call. More money leaving the issue today (Down 12 cents @ $ 3.48 on 570k volume).

We can analyze the fundamentals all we want and in some cases get our hopes up, but reality is everyone will go back to sleep again (Including CRG) until next quarter's "Big Hope"!

Posted by Techinvestor - 9 years ago

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operating break-even gets we all hot and bothered, Phobos. I would love to be a fly on the wall in the engineering department at the mighty VTSS just to get a real sense of the pulse - or lack there of - of the place!

Posted by G - 9 years ago

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Thanks for setting me straight Chris! will do my DD in the future.

welcome back G, tough for old dogs to learn new things/tricks! you're still stuck in the past, I am still pumping away at the possibilities for our little company. One way or another I believe our fearless leader has this year to deliver or he will be axed.

Phobos, 107 million isn't going to change much, somehow crg needs to squeeze a few more million out of the year to impress followers like Craig-Hallum. 28 plus in Q2 with at least 14 million in new product sales would do plenty to restore confidence.

Posted by GARIF - 9 years ago

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I'll tell you how low my expectations are. I didn't even listen to the call and I haven't read the earnings release yet. Did they start talking about how great 2015 is going to be?

is it time we conclude Gardner missed design cycle #3 of his tenure. This company is a joke. whoever and whatever they are running the company for it most certainly is not for the stockholders.

how old is Gardner. the only way he leaves this company is retirement or death. I think I can very safely say he has taken more out of this company in salary and stock options than the combined net income ever earned under his leadership. I am not talking about adding the net losses and net income together. I am just talking about any income made under him. He has clearly decided, some time ago, that operating VTSS at a net loss is fine, every year, every quarter, every day. "We don't want to reduce our R&D because it is the future of the company. How else can we be assured we will continue to lose money each and every quarter. We can not do that without a constant stream of ill-conceived products."

But keep standing behind him BOD.

Posted by dlog - 9 years ago

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G, you bring back some memories. Like when certain individuals you mention turned the old board into a pump and dump scheme for something called Beacon Power which sucked VTSS bagholders in, hoping to recover their money.....of course it went bankrupt causing even more pain to those naïve enough to have gone along (fortunately not me).
Billy Martin needs to start acting like the baseball Billy Martin and open up a can of "whup ass" on the board and senior management. Maybe kick dirt all over their shoes like Billy used to do to the umpires. Have you ever heard CRG own up to a crappy quarter or just crappy performance? He is the master at putting lipstick on a pig, and spinning some b.s. Obviously the board buys into it (why not, more options, perks and pay for rolling over). If the product is good, it will sell. If it is better than average, it will still sell. If it is average, it will sell with good sales people. To just bounce along the bottom like this fits Einstein's definition of insanity to a T. I'll never forget Tomasetta once saying on a call to an analyst never to project revenue off of design wins, because it doesn't work that way. Now this guy is saying it does? Of course what else can he say at this point.

Posted by sharpinvestments - 9 years ago

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Third Quarter 2013 Earnings Results Conference Call
August 6, 2013

Page | 12
calmed any concerns in the customer base and if that's opening any new program
opportunities for you?

Chris: The answer, unfortunately, is yes. Over the last couple of years we've actually, I
think, done very well in working with our customers. I would characterize it as
probably 95 percent of our customers don't care or haven't really been aware. But
there's always a few that are looking, asking questions, getting quarterly updates,
etcetera. Almost entirely, we have dispelled those kinds of challenges and it's just
one more competitive barrier that we don't have to deal with anymore. It makes
life a lot easier. Is it going to amplify our design wins dramatically? Probably not.
But it will probably make those design wins a hell of a lot easier and a lot faster at
maybe three to five different accounts that have been a little challenging.

Q: Does it maybe also have any sort of impact in the size of programs you could go
after or not so much?

Chris: Yeah, that's a great question. And the answer is absolutely. In some of the
accounts that have been watching us a little bit, we get exactly that. We get to
play sort of in the tier two sockets. But would they put us with a balance sheet
problem in the biggest socket at the company? That's where they going to look
really hard. It's really a matter of energy that has gone into it. And over the last
two years it's been dramatically better than it was in the two years prior. We
expect the two years going forward to be a hell of a lot easier for the sales team
because of the strength of the balance sheet now.

Friends in 2006 Vitesse developed leprosy! a mass exodus came about which lasted until at-least 2011; at which point customers started nibbling at her products ever so carefully.
So yes she played second third fiddle through design cycles one and two of Gardners career.
Honestly! would any of you put your companies future in Vitesse hands not knowing if she would be alive in six months, back then???

It's a testament to the quality of her products that she was able to eek out some living while going through her self induced pain. Today her sales team is having a much joyful time selling her products and ideas! the benefits of which we're starting to see now, perhaps not at the grand scale we wish! but moving gradually in that direction(reality of time to market for products).

The LTE stuff has been a little late to take off universally, but Vitesse is the backbone of many companies in that business; so as the ramp starts we will be there. I read where Broadcom is scrambling to get a piece of the action while Vitesse is just waiting for orders to come in(many qualified under her already).

By all means correct my perceptions forum members, I never shy away from truth and better facts I am a welcoming person.

Peace

Posted by GARIF - 9 years ago

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Garif,

In MOST cases, I would agree it is not good to use the past as a predication of the future for a company or its stock, but we dealing with VTSS, CRG and its BOD for God's sake. Not paying attention to what has happened in the past concerning this blood bath is a recipe for more of the same. I stopped averaging down a LONG time ago on this turd. Some of you guys need to wake up and smell the incinerated coffee; this shit is beyond burnt to a crisp!

As Sharp points out above, CRG is the master at putting lipstick on a pig, and spinning some b.s., the only one better was Lou, who he learned from.

As for Billy Martin's position in this thing, well, all I have to say is smart guys make stupid moves all the time. Have we forgotten what happened to Bob Chapman . . . he eventually lost on his VTSS bet - not sure how much - and finally folded his tent and found another tree to piss on. How about Bill Ackman's short bet on HLF? It may very well be a pyramid scheme, but right now his short has got him by the balls and he ain't looking to good for such a smart guy.

CRG will never own up to anything; VTSS's numbers (top and bottom line) speak volumes; which also and more importantly speak to the non-relevance of their chips in this ever changing marketplace.

Posted by G - 9 years ago

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Mr G,
Once again Crg was dealt a tough deck of cards to play with for several years, the board understood this so they stuck with him.
Competitors like Broadcom, Amcc, Mindspring etc, attacked her turf and all Vitesse could do was watch. The few whom she had deeply entrenched products with helped pay the bills.

What was he to tell us, the absolute truth? that his sales team was having serious trouble convincing customers to believe that they will be available to service the products they are trying to sell, or that the company will be around in 2 years to issues enhancements...

Now we're starting to hear about the 10 million dollar annual customers, the 5 million dollar projects with individual customers, the billion dollar customer who's going to pollinate the world with Vitesse products/ideas.

Keep in mind G, that genetically altered Corn,soy and wheat you ate few hours ago must go through multiple processes before reaching your mouth!
Its soil had to be prepared--then planted, manicured-- harvested, sorted etc-- shipped to customer warehouses-- finally about a year after that item was removed from the soil it reaches your plate.
Vitesse is going through the same process! I see where Billy Martin appreciates the direction Crg is taking.

Once again seeds planted in 2012, which I consider the year that Vitesse started regaining some respect or at least customers started realizing she was going to live after all; are coming to harvest as we speak! there was some delay in LTE stuff but it's starting to happen.

forgive my simply ANALOGY, perhaps I am too much of a simpleton but time will tell...

Peace

Posted by GARIF - 9 years ago

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What a bunch of "weak sisters" most of you are. They beat on Revenues and the kick it on EPS. If you consider the 6-8% of Revenues for IP for the year then the numbers look very good for accomplishing what they have laid out. Billy Martin has taken a position and I agree with him. The fact that the IP revenues are highly profitable probably accounts for most of the progress made on the EPS. Even at just 6% the should average $1.6 mil a quarter over the next 3 quarters. Back that out of Revenue targets and it makes product Revenues very doable. My stuff says they kick EPS again in the Q2 - ($.03), B/E in Q3, and turn in a descent profit in Q4 - in fact, probably enough of the profit in the Q to make the entire year profitable. You guys need to read the numbers and look at your charts. Garif is the only one on board with this - the rest of you should quite crying. The analysts are lowering expectations - GREAT! That will make the reports even bigger blowouts! That is how you move the stock price. By August the convertibles will be gone and the Balance Sheet will no longer be an issue. By the end of the calendar year - $8.00

Satbob

Posted by Satbob - 9 years ago

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Somebody explain to me how they could raise the margins by 4 points in the quarter (a nice accomplishment, I'll agree), have over $2M in IP revenue (which should be almost pure profit), and "she" not only manages to still lose money but also burns through >$5M in cash over and above the $13M debt payoff. Are you sh*ting me??? Sounds to me like their breakeven number is a lot higher than what they've been saying. What am I missing here. A "she" that can't live up to her commitments and spends a lot of money, ought to be called something else.

Posted by sharpinvestments - 9 years ago

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I was able to get that down to $1.2M including the increase in receivables, inventory, paying down some of the debt and the operating loss. Receivables do seem to be growing and they do seem to be building inventory, as if they really are expecting a product ramp. Adding the missing cash and the operating cost back to the top line gets to around $30.5M -- break-even (?). The "hockey stick" would have to begin in Q3.

Posted by phobos - 9 years ago

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Looking through the Q1 10Q page 6

cash at beginning of period $68.863M

Net cash used in operating activities: ( $4.523M )*
Net cash used in investing activities: ( $788 )*
Net cash used in providing financing activities: ( $15.197M )*
Net decrease in cash: ( $20.508M )*

cash at end of period: $48.355M

* there is a complete breakdown showing how many $ went to where or for what in Q1 10Q page 6.

Posted by christ3opher - 9 years ago | Updated 9 years ago

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Thank you!

Posted by phobos - 9 years ago

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page 32 of the Q1 10Q

displays some very good information in regards to:

" Contractual Payment Obligations by Fiscal Year"

includes: Operating Leases, Software Licenses, Loan Interest etc. none of this shit is cheap!

can see why "Term A" and "Term B" loans were pushed out until
2016. 2015 has some hefty payments that come to $45M+

Posted by christ3opher - 9 years ago | Updated 9 years ago

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Garif . . . For the record, I do not eat GMO-based food. I am also a size holder of STKL as I like to put my money where my mouth is. As for VTSS, I remain UNIMPRESSED.

Posted by G - 9 years ago

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Someone positively recapitulates the earnings call on "Seeking Alpha":

http://seekingalpha.com/article/2011091-comeback-of-profitable-growth-should-take-vitesse-higher?source=yahoo

Posted by phobos - 9 years ago

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I trade VTSS for 2 reasons- 1) The technicals & 2) The presence of Billy Martin. Being excited because VTSS is in a growth industry and LTE, etc. is like getting excited because some poorly run, screwed up little company happens to be in the right sector.

The facts are VTSS hasn't been able to follow a business plan and has a proven track record of failure.

Posted by Techinvestor - 9 years ago

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It's true Tech. VTSS never could follow through. The difference is that Mr. Martin now has people on the board who can follow through, and he still seems to be picking up shares when he can. I have a lot of confidence in Nuss too. VTSS seems to have a few things going for it these days. Let's see what happens by Q3.

Posted by phobos - 9 years ago

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G, congrats on your choice of foods! I in my circles I am know as crazy because I don't compromise in what goes into my body. People around me are falling apart,wife, son,brothers, sisters...
my response these days is, "OH WELL."

One of the burdens of inner city(ghetto) living is watching the consequences of unhealthful life styles, starting with the very young.

Time will speak best when it comes to our Vitesse decisions.

peace

Posted by GARIF - 9 years ago

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