News & Events
Intersil President & CEO to Open The NASDAQ Stock Market on September 5th
-- Intersil celebrates three years of continuous progress since becoming an independent company
IRVINE, CA, September 4, 2002 Intersil Corporation (NASDAQ: ISIL), a world leader in the design and manufacture of high performance analog and wireless networking solutions, announced today that its President and CEO, Rich Beyer and Vice President and CFO, Dan Heneghan will open The NASDAQ Stock Market on Thursday, September 5 at 9:30 am Eastern. The market open is a celebration of Intersils third anniversary as an independent company, during which time the corporation has undergone a significant transformation divesting non-core businesses, completing strategic alliances and acquisitions, and continuously improving financial results. Todays Intersil is a leader in four high-growth markets: flat panel display, optical storage (CD and DVD recordable), power management and wireless networking.
Some of Intersils significant milestones since becoming independent include:
- Largest-ever IPO for a U.S. semiconductor company in February 2000, valued at $575 million.
- Acquired wireless LAN technologies via NoWiresNeeded in June 2000.
- Sold discrete power business for $338 million in cash in March 2001.
- Completed bond offer, retiring all company debt in February 2001.
- Entered strategic alliance with Primarion to co-develop digital power management solution for multi-Gigahertz microprocessors in October 2001.
- Completed acquisition of Elantec Semiconductor, providing complementary high performance analog products, competencies and market leadership in May 2002.
- Improved gross margins from 38% in 1999 to 54% in the second quarter of 2002.
- Outgrew overall semiconductor industry for three consecutive years.
Intersil Corporation is a global semiconductor leader in the design and manufacture of high performance analog and wireless networking solutions. The acquisition of Elantec Semiconductor, Inc., expanded Intersils product portfolios to address four fast growing markets flat panel displays, optical storage (CD and DVD recordable), power management, and wireless networking. Intersil brings added customer value in providing complete silicon, software and reference design solutions to new products that enhance the computing experience for people wherever they live, work or travel. 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
