GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Intersil Corp. Reports Operating Results (10-Q)

August 03, 2012 | About:
10qk

10qk

18 followers
Intersil Corp. (ISIL) filed Quarterly Report for the period ended 2012-06-29.

Intersil Corp has a market cap of $1.19 billion; its shares were traded at around $8.85 with a P/E ratio of 51.7 and P/S ratio of 1.6. The dividend yield of Intersil Corp stocks is 5.2%. Intersil Corp had an annual average earning growth of 12.4% over the past 10 years.

Highlight of Business Operations:

Revenue for the quarter ended June 29, 2012 decreased $46.1 million or 22.0% to $163.0 million from $209.1 million during the quarter ended July 1, 2011. The decrease in sales was broad-based in each of our end markets. Sales into the consumer market decreased 41.7% compared to the quarter ended July 1, 2011, while sales into the personal computing market decreased 23.1% and sales into the industrial and infrastructure market decreased 13.3%.

Revenue for the two quarters ended June 29, 2012 decreased $88.9 million or 21.8% to $319.0 million from $407.9 million during the two quarters ended July 1, 2011. The decrease in sales was broad-based in each of our end markets. Sales into the consumer market decreased 35.3% compared to the two quarters ended July 1, 2011, while sales into the personal computing market decreased 23.7% and sales into the industrial and infrastructure market decreased 15.4%.

Cost of revenue consists primarily of purchased materials and services, labor, overhead and depreciation associated with manufacturing pertaining to products sold. During the quarter ended June 29, 2012, gross profit decreased $33.0 million or 27.1% to $88.8 million from $121.8 million during the quarter ended July 1, 2011. As a percentage of sales, gross margin was 54.5% during the quarter ended June 29, 2012 compared to 58.2% during the quarter ended July 1, 2011. The decrease in gross margin was primarily due to lower internal utilization and product sales mix changes at the product family level.

During the two quarters ended June 29, 2012, gross profit decreased $62.8 million or 26.5% to $174.0 million from $236.8 million during the two quarters ended July 1, 2011. As a percentage of sales, gross margin was 54.5% during the two quarters ended June 29, 2012 compared to 58.1% during the two quarters ended July 1, 2011. The decrease in gross margin was primarily due to lower internal utilization and product sales mix changes at the product family level.

Cash flows from stock plans (including exercises of stock options (Options), tax payments on vesting restricted and deferred stock awards (Awards) and sales under our ESPP) were $1.1 million in the two quarters ended June 29, 2012, compared to $1.3 million received in the two quarters ended July 1, 2011.

Read the The complete Report

About the author:

10qk
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 1.0/5 (1 vote)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide