Intersil Corporation Reports Second Quarter Results
MILPITAS, Calif., July 29, 2015 /PRNewswire/ — Intersil Corporation (NASDAQ: ISIL), a leading provider of innovative power management and precision analog solutions, today announced financial results for the second quarter of 2015.
Revenue of $132.4 million was down 1.3% sequentially. Strong gross margin and lower operating expenses resulted in solid operating margin for the eighth consecutive quarter. The company reported GAAP earnings per share of $0.28 and non-GAAP earnings per share of $0.16.
Gross margin performance was strong at 59.3% on a GAAP basis and 59.6% on a non-GAAP basis.
The company again reported solid profitability, with GAAP operating margin of 12.2% and non-GAAP operating margin of 20.3%.
Cash and cash equivalents increased to $225 million.
New products introduced during the quarter represent industry firsts for power management in tablets and ultrabooks, wearables and industrial applications.