News & Events
Intersil Corporation Declares Dividend and Announces Stock Repurchase Program

— Declares quarterly cash dividend~— Announces $100 million stock repurchase program~— Confirms third quarter 2003 guidance

MILPITAS, CA, September 17, 2003 – Intersil Corporation (NASDAQ: ISIL), a world leader in the design and manufacture of high performance analog solutions, today announced two strategic actions that further demonstrate its commitment to increasing shareholder value.

Due to Intersil’s healthy balance sheet and steady financial performance, its board of directors has declared a quarterly cash dividend on its common stock of $0.03 per share. Payment will be made on November 24, 2003 to stockholders of record on November 3, 2003. In addition, the company’s board of directors has authorized a program to repurchase up to $100 million of Intersil stock over the next twelve months. The timing of the buy-back and the exact number of shares purchased will depend on market conditions. As of July 4, 2003, Intersil’s last quarter end, the company had approximately 137 million shares of common stock outstanding.

“We have completed our transition to a pure high performance analog company. With nearly $1 billion in cash on our balance sheet and an operating model that generates significant cash, we are very pleased to provide this return to our shareholders,” said Dan Heneghan, vice president and CFO.

The company also announced today that it expects to achieve its third quarter 2003 revenue and adjusted earnings per share guidance established on July 23, 2003. For the third quarter, the company anticipates growing revenue 3-5% to between $129-$132 million and increasing adjusted earnings per share to $0.15. About Intersil
Intersil Corporation is a leader in the design and manufacture of high performance semiconductors. The company’s products address three of the industry’s fastest growing markets - flat panel displays, optical storage (CD and DVD recordable) and power management. 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.

This release may include “forward looking statements” that are subject to risks and uncertainties. For information identifying economic, political, climatic, currency, regulatory, technological, competitive and some other important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, see Intersil’s Safe Harbor Forward Looking Statement disclaimer found at http://www.intersil.com/legal.asp as well as Intersil’s SEC filings as updated from time to time, found at http://www.sec.gov.