News & Events
Intersil Corporation Reports First Quarter 2009 Financial Results

Milpitas, CA, April 22, 2009 – Intersil Corporation (NASDAQ Global Select: ISIL), a world leader in the design and manufacture of high performance analog and mixed signal semiconductors, today reported financial results for its first quarter ended April 3, 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.

Business Outlook
“With a positive book-to-bill in the first quarter, we are now confident that we have turned the corner and will see sequential growth in the second quarter,” said Mr. Bell. “Supply chain inventory levels have been significantly reduced during the last two quarters, and we believe our current bookings are driven by a combination of consumption and modest inventory replenishment. Although visibility remains limited, we expect second quarter revenues to be in the range of $123 million to $132 million. Our GAAP earnings per diluted share are expected to be in the range of $(0.01) to $0.03.”
Investors and interested parties within the United States may listen to Intersil's conference call on April 22nd at 1:45 p.m. Pacific/4:45 p.m. Eastern by dialing (800) 638-4817 and international callers may connect to the call by dialing (617) 614-3943, using the password 3003-0645. A replay of Intersil’s conference call will be available for two weeks by dialing (888) 286-8010 in the U.S., or (617) 801-6888 internationally, using the password 9091-9634. A webcast replay of the conference call will be available for two weeks on Intersil’s web site at http://www.intersil.com/investor. A copy of this press release may be found on Intersil’s web site at http://www.intersil.com/investor.

About Intersil
Intersil Corporation is a leader in the design and manufacture of high-performance analog and mixed signal semiconductors. Intersil’s products address some of the industry's largest 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, Zilker Labs Digital Power ICs 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 Intersil’s web site and career page at www.intersil.com.

Forward-looking Statements
Intersil Corporation press releases and other related comments may contain forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon Intersil’s management's current expectations, estimates, beliefs, assumptions and projections about Intersil's business and industry. Words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “potential,” “continue,” “goals,” “targets” and variations of these words (or negatives of these words) or similar expressions, are intended to identify forward-looking statements. In addition, any statements that refer to projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various risk factors. Intersil does not adopt and is not responsible for any forward-looking statements and projections made by others in this press release. Intersil's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and other Intersil filings with the U.S. Securities and Exchange Commission (which you may obtain for free at the SEC's web site at http://www.sec.gov) discuss some of the important risk factors that may affect our business, results of operations and financial condition. These forward-looking statements are made only as of the date of this communication and Intersil undertakes no obligation to update or revise these forward-looking statements.

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