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Intersil Corporation Reports Solid Second Quarter Results
--Meaningful Gross Margin Improvement Increases Profitability--

Milpitas, CA, July 30, 2014 – Intersil Corporation (NASDAQ:ISIL), a leading provider of innovative power management and precision analog solutions, today announced strong  financial results for the second quarter ended July 4, 2014. Continued demand for industrial and  infrastructure products and improving gross and operating margins resulted in top and bottom  line growth.

Company Highlights

  • Revenue of $147.8 million was up 5.5% sequentially 
  • Both GAAP and non-GAAP gross margin improved by more than 150 basis points  sequentially
  • Operating margin increased to 14.0% on a GAAP basis and 21.5% on a non-GAAP  basis
  • Earnings per diluted share also increased sequentially to $0.10 on a GAAP basis and  $0.19 on a non-GAAP basis
  • Cash and investment balances increased to $201 million

Revenue for the second quarter of $147.8 million increased 5.5% sequentially and 2.1%  compared to the same period last year. Intersil’s industrial and infrastructure revenue increased  by more than 8 percent sequentially due to growth across every major product category.  Computing and consumer revenue remained flat sequentially during the quarter. The  breakdown by end market was as follows:

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