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.
- 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: