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Friday, Jan 27, 2023
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Briefs: Vitesse, Wesco, Camarillo Plaza

Vitesse Semiconductor Corp. narrowed its net loss in the fiscal fourth quarter as it increased product adoption by customers and added 130 customers. The Camarillo integrated-circuit manufacturer reported a net loss of $2.5 million (-4 cents a share) in the quarter ended Sept. 30, compared with a net loss of $5.8 million (-10 cents) in the same period a year earlier. Revenue increased 7 percent to $28.7 million. Chief Executive Chris Gardner said that during the quarter Vitesse made investments by adding employees for hardware and software development and in marketing and sales. He said business was particularly strong in supplying chips for the devices that connect devices to the Internet, the so-called “Internet of Things.” “While our legacy business has declined over the past several years, our new business is growing rapidly,” Gardner said in a prepared statement Shares closed up 33 cents, or more than 10 percent, to $3.43 on the Nasdaq. Wesco Aircraft Holdings Inc. appointed Jennifer Pollino to fill a vacancy on its board of directors. The Valencia aerospace supplier named Pollino, an executive coach and consultant, to its board on Thursday with her term expiring at the 2015 annual stockholders meeting. Pollino will serve as well on the board’s compensation committee. Pollino founded business consultancy JMPollino LLC in 2012. Prior to that, she served as an executive vice president for human resources and communications at Goodrich Corp., in Charlotte, N.C. She also serves on the board of aerospace and industrial manufacturer Crane Co., in Stamford, Conn., and the Society for Human Resources Management, in Alexandria, Va. “(Pollino’s) long track record in the industry and strong background as a business leader, human resources expert and financial professional bring a diverse and unique perspective and a strong skill-set to Wesco Aircraft,” Chief Executive Randy Snyder said in a prepared statement. Shares closed down 5 cents, or a fraction of a percent, to $13.94 on the New York Stock Exchange. Fitness 19 will become the anchor tenant of Camarillo Plaza after signing a 10-year lease for more than a quarter of the 74,000-square-foot center’s space, a broker on the deal announced Friday. The gym is taking 19,732 square feet at the 1775 Daily Drive outdoor mall, which features a Habit Burger grill, Hobby People and Revolution Surf Shop, according to CBRE Group, which represented landlord DP Grand Camarillo Center LLC. “This is a well-positioned location for a fitness user, offering tremendous freeway identity,” says Scott Siegel, a senior associate at CBRE. “Fitness 19 acted quickly on the opportunity and will become the anchor tenant in this unique shopping center.” Fitness 19 markets itself as an affordable, family-friendly facility with state-of-the-art cardio, strength and free-weight equipment. The Glendale, Ariz.-based chain was founded in 2003 and has locations in 23 states, including 59 gyms in California. Also representing the landlord was CBRE First Vice President Larry Tanji and Sales Assistant Lisa Engel. The tenant was represented by Rainier Commercial, based in Seattle, Wash.

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