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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,
2008 was another year of growth and progress for Intersil, despite the
economic downturn. We not only continued to grow faster than our peer group, but
we took significant steps toward making Intersil a stronger, more agile company.
I hope that each and every shareholder will be pleased to learn about the
progress we have made during the last year.
First, let’s look at our financial performance. Sales in 2008 were $770
million, which represents 2% growth over 2007. Although growth was modest when
compared to recent years, we managed to once again outpace our peer group and
the overall market. And this growth was achieved even with fourth quarter
revenues down sharply due to the worldwide downturn. Our gross margin, excluding
one-time charges, was a healthy 57%.
Responsible Leadership
Intersil boasts one of the industry’s most seasoned management teams. We are
committed to managing responsibly through the economic downturn and are taking
all appropriate measures to reduce operating expenses and maximize cash flow.
However, we continue to invest in key strategic programs that will provide
excellent return on investment in future years.
Continued (pdf format)...
David Bell
President and Chief Executive Officer
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