Vitesse (VTSS) was up 3.2% in preopen Island trading after the company warned late Tuesday it would show a third-quarter loss of 6 cents a share, on revenue of about $60 million. In April, the Vitesse forecast earnings of 3 to 7 cents on revenue of $90 million to $110 million. Analysts were expecting a profit of 3 cents a share on revenue of $93.7 million, according to Thomson Financial/First Call.
The semiconductor maker said weak markets continue to show no sign of improvement. The company is pursuing cost-cutting measures, but said no further job reductions are planned.