Thursday, May 5, 2011

Vitesse CFO To Retire

Camarillo-based Vitesse Semiconductor, the maker of high speed networking ICs, said Thursday that Richard C. Yonker, its Chief Financial officer, is retiring. The firm said Yonker will remain in the position until a successor is found. Yonker has been at the firm since 2006, and was in charge of the major restructuring of the firm's finances after the company was caught up in stock options dating issues. Vitesse finally returned to the NASDAQ in March. Vitesse also announced its quarterly results Thursday, saying it had net loss of $9.0M on revenues of $36.9 million. That compared with a net loss of $34.0M on revenues of $43.9M for the quarter ending March 31, 2010.

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