Published:
Intersil Corporation Revises Expectations for the Fourth Quarter
Intersil Corporation (NASDAQ: ISIL), a world leader in the design and manufacture of high-performance
analog semiconductors, today announced that fourth quarter revenue will be
below the company's previous outlook. The company now expects fourth
quarter revenue to be between $125 million and $135 million, an estimated
decline of 38 to 43 percent from the third quarter. The company's previous
guidance was to be down 20 to 25 percent from the third quarter. Non-GAAP
earnings per share are now expected to be between $0.09 and $0.12.
"As a result of the deteriorating global economy, we are revising our
fourth quarter guidance. Approximately five percentage points of this
reduction is due to our own actions to reduce distributor inventory in the
PC channel, and the balance is the result of a very broad-based reduction
in bookings during the quarter," said Dave Bell, President and CEO. "We
quickly responded to this downturn with a 9% reduction in force and strict
control of operating expenses. We are also taking advantage of this
downturn by focusing on the development of new products and investing in
small strategic acquisitions that will make Intersil an even stronger
company once growth resumes."
About Intersil
Intersil Corporation is a
leader in the design and manufacture of high-performance analog semiconductors. The
Company's products address some of the industry's fastest growing markets,
such as, flat panel
displays, cell phones, other handheld systems, and
notebooks. Intersil's product families address power management functions and
analog signal processing functions. Intersil products include ICs for battery
management, hot-swap and hot-plug controllers, linear
regulators, power
sequencers,
supervisory ICs, bridge
drivers, PWM
controllers,
switching DC/DC regulators and power MOSFET drivers; optical storage laser diode
drivers; DSL line drivers; D2Audio
products; video and
high-performance operational
amplifiers; high-speed
data converters; interface
ICs; analog switches
and multiplexers; crosspoint switches; voice-over-IP devices; and ICs for
military, space and radiation-hardened
applications. For more information about Intersil or to find out how to
become a member of our winning team, visit the Company's web site and
career page at www.intersil.com.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
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