ISIL » Topics » Results of Operations

This excerpt taken from the ISIL 8-K filed Oct 21, 2009.

Results of Operations

Net revenues for the third quarter were $168.3 million, a 23% decrease from $218.7 million in the third quarter of 2008 and a 14% increase from $147.3 million in the second quarter of 2009. Intersil’s third quarter revenues by end market were as follows: high-end consumer, 28% of revenues; computing, 34% of revenues; industrial, 19% of revenues; and communications, 19% of revenues.

Gross margin was 54.5%, compared with gross margin of 56.3% in the same quarter last year, and 54.2% in the second quarter of 2009.

Operating margin from continuing operations was 10.4%, compared with 22.9% in the same quarter last year, and 6.2% in the second quarter of 2009. Income from continuing operations was $12.3 million or $0.10 per diluted share, compared with $47.3 million, or $0.38 per diluted share in the same quarter last year, and $6.2 million, or $0.05 per diluted share, in the second quarter of 2009.

Net income was $12.3 million, or $0.10 per diluted share, compared with $47.3 million, or $0.38 per diluted share in the same quarter last year, and $6.2 million, or $0.05 per diluted share, in the second quarter of 2009. Third quarter net income includes a $14.3 million unrealized loss on Intersil’s long term auction rate securities and approximately $9.7 million in related tax benefits.

“The third quarter demonstrated the ongoing broad-based recovery within our computing, consumer and now industrial end markets,” said Dave Bell, Intersil’s President and Chief Executive Officer. “The third quarter exhibited normal seasonality, and we believe that the communications end market is now poised for recovery as well.”

“During the quarter, we completed the acquisition of Quellan, which exemplifies our strategy to expand our presence in high-margin communications infrastructure markets,” continued Bell. “Quellan’s signal integrity products improve the reach and power efficiency of high-speed interconnections within data centers.”

At the end of the third quarter, Intersil’s cash and short-term investments totaled over $329 million with no debt. Free cash flow was $32.6 million during the third quarter.

Intersil’s Board of Directors has authorized the payment of a quarterly dividend of $0.12 per share of common stock. The payment of this dividend will be made on November 20, 2009 to shareholders of record as of the close of business on November 10, 2009.


This excerpt taken from the ISIL 8-K filed Jul 22, 2009.

Results of Operations

Net revenues for the second quarter were $147.3 million, a 32% decrease from $216.2 million in the second quarter of 2008 and a 25% increase from $118.2 million in the first quarter of 2009. Intersil’s second quarter revenues by end market were as follows: high-end consumer, 25.6% of revenues; computing, 35.0% of revenues; industrial, 19.0% of revenues; and communications, 20.4% of revenues.

Gross margin was 54.2%, compared with gross margin of 56.7% in the same quarter last year, and 55.1% in the first quarter of 2009.

Operating margin from continuing operations was 6.2%, compared with 20.1% in the same quarter last year. Income from continuing operations was $6.2 million or $0.05 per diluted share, compared with $38.0 million, or $0.30 per diluted share in the same quarter last year, and $2.4 million, or $0.02 per diluted share in the first quarter of 2009.

GAAP net income, which includes stock-based compensation expenses, restructuring expenses and amortization of intangible assets, was $6.2 million, or $0.05 per diluted share, compared with $38.0 million, or $0.30 per diluted share in the same quarter last year, and $2.4 million, or $0.02 per diluted share in the first quarter of 2009. Net income in the second quarter of 2009 was reduced by approximately $0.03 per diluted share due to a one-time $3.4 million tax expense associated with the move of Intersil’s international headquarters.

“We are pleased with our strong performance and ability to beat and raise our second quarter revenue guidance,” said Dave Bell, Intersil’s President and Chief Executive Officer. “As expected, we are seeing steady recovery in our computing and consumer end markets. In addition, our industrial end market bucked the declining industry trend due to growing numbers of new products and design wins. We are cautiously optimistic about this momentum and believe it will continue to propel Intersil toward our long term goals.”

“Our strong balance sheet continues to grow with over $324 million in cash and short-term investments, and no debt. We continue to control expenses, and remain committed to growing revenue faster than operating expenses. These efforts allowed Intersil to generate $30 million in free cash flow during the second quarter,” continued Bell.

Intersil’s Board of Directors has authorized the payment of a quarterly dividend of $0.12 per share of common stock. The payment of this dividend will be made on August 22, 2009 to shareholders of record as of the close of business on August 12, 2009.


This excerpt taken from the ISIL 8-K filed Apr 22, 2009.

Results of Operations

Net revenues for the first quarter were $118.2 million, a 42% decrease from $203.7 million in the first quarter of 2008 and a 10% decrease from $131.1 million in the fourth quarter of 2008. Intersil’s first quarter revenues by end market were as follows: high-end consumer, 21.2% of revenues; computing, 31.1% of revenues; industrial, 22.5% of revenues; and communications, 25.2% of revenues.

GAAP gross margins were 55.1% compared to GAAP gross margins of 53.8% in the same quarter last year, and 33.7% in the fourth quarter of 2008.

GAAP operating margins from continuing operations were 1.4%, as compared with 19.8% in the same quarter last year. Income from continuing operations was $2.4 million or $0.02 per diluted share, as compared with $47.7 million, or $0.38 per diluted share in the same quarter last year, and compared with a loss of $1,195.4 million, or $9.79 per share in the fourth quarter of 2008, which included several unusual charges, including a $1,154.7 million goodwill impairment charge.

GAAP net income was $2.4 million, or $0.02 per diluted share, compared with $67.1 million, or $0.53 per diluted share in the same quarter last year, and a net loss of $1,189.9 million, or $9.74 per share in the fourth quarter of 2008.

“Bookings and sales from our computing business rebounded strongly during the first quarter, which was expected as this segment of our business was the first to be impacted by the economic downturn late last year,” said Dave Bell, Intersil’s President and Chief Executive Officer. “However, we also experienced the anticipated decline in our other market segments, which we expect to recover later in 2009.”

“We continue to have one of the strongest balance sheets in the industry with over $300 million in cash and short-term investments, and no debt. Despite the severity of this downturn, careful operating expense controls allowed us to achieve a net profit of $2.4 million and free cash flow of over $11 million during the quarter,” continued Bell.

Intersil’s Board of Directors has authorized the payment of a quarterly dividend of $0.12 per share of common stock. The payment of this dividend will be made on May 22, 2009 to shareholders of record as of the close of business on May 12, 2009.


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki