Vitesse Semiconductor updated its revenue guidance for the fourth quarter based on declining orders from the Asian market. The Camarillo-based manufacturer of semiconductors expects fourth quarter revenues between $29 million and $30.5 million. That is a decrease from the previously stated fourth quarter guidance of $35 million to $38 million. During the fourth quarter, which ended Sept. 30, the company made cuts that reduce operating expenses by $10 million for the upcoming 2012 fiscal year. Poor economic conditions contributed to lowering the revenue guidance as customers manage through inventories and curtail purchases, particularly in the Asia Pacific region, said Vitesse CEO Chris Gardner in a prepared statement. “A delay in an intellectual property contract also contributed to our reduced revenue expectation,” Gardner said. Vitesse will release its fourth quarter earnings in December.