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 Intersil believes that during the current global economic crisis, the United States has some big decisions to make. We recognize that semiconductors are at the heart of technology as well as integral parts of our daily lives. Since 1995, Information technology enabled by semiconductors has accounted for 25% of all economic growth. As a proud member of the Semiconductor Industry Association (SIA), Intersil - along with other semiconductor companies - are creating the technologies that are critical for our nation's future economic growth.
Intersil's President, CEO and Director, Dave Bell,
is on the Board of Directors of the SIA, and invites
you to watch a
brief, highly informative video about semiconductors.
Think small! Find out what semiconductors
are and how next generation semiconductors have
the potential to ignite growth across all sectors
of the economy.
Fellow Shareholders,
2009 was a year of recovery for Intersil. The collapse of the global financial markets in late 2008 quickly spread to industries worldwide, including the global semiconductor market. This immediately led to a steep decline in demand for our semiconductor products which continued through the first quarter of 2009 when revenue dropped to $118.2 million.
I am very proud of how Intersil responded to the crisis and exploited this unique opportunity to build an even stronger company. Our management team's swift actions to rein in operating expenses, together with a robust global semiconductor recovery, allowed us to remain cash flow positive throughout the downturn and deliver revenue of $177.7 million in the fourth quarter of 2009-a 50% increase from the first to the fourth quarter.
Continued (pdf format)...
David Bell
President and Chief Executive Officer
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