Intersil Turns To Profit In Q2; Issues Q3 Outlook

(RTTNews) - Intersil Corp. (ISIL) reported that its second-quarter net income was $1.0 million or $0.01 per share, compared to a net loss of $14.5 million or $0.11 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Non-GAAP net income for the latest second quarter was $18.4 million or $0.14 per share, compared to $9.5 million or $0.08 per share in the prior year period.

Revenues for the quarter declined to $144.83 million from $162.99 million in the prior year quarter, while sixteen analysts had consensus revenue estimate of $138.34 million for the quarter.

Looking ahead to the third quarter, the company expects GAAP results to be in the range of loss of $0.03 per share to $0.01 per share, non-GAAP earnings of $0.15 to $0.18 per share, and revenue of $146 million to $152 million.

Analysts currently expect the company to earn $0.01 per share on revenues of $141.52 million for the third quarter.

Further, Intersil's Board of Directors authorized payment of a quarterly dividend of $0.12 per share of common stock. The payment of this dividend will be made on August 30, 2013 to shareholders of record as of the close of business on August 20, 2013.