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Vixel Crosses Over

Despite near-term losses, executives of Vixel Corp. (Nasdaq: VIXL) were upbeat during the company's third-quarter earnings presentation yesterday.

"While we must acknowledge the turbulent economy and tragic events of September 11, we're nevertheless pleased with the progress we've made in transitioning our business," CEO Jim McCluney told Wall Street analysts in a conference call.

He referred specifically to the company's progress in moving out of the component-level transceiver business and gaining all of its revenue from SAN-related products, including Fibre Channel switches and hubs, storage management software, and ASICs (application-specific integrated circuits) designed for storage applications.

Figure 1:

Vixel has been planning the transition since it went public three years ago. And, as anticipated, it's taken a hit as it makes the shifts required to ramp up in its chosen product areas.

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