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UPDATE 1-Intersil Q1 results beat Street, sees strong Q2
April 21, 2010 / 8:43 PM / 7 years ago

UPDATE 1-Intersil Q1 results beat Street, sees strong Q2

* Q1 EPS $0.22 vs est $0.20

* Q1 rev $189.4 mln vs est $185 mln

* Sees Q2 EPS $0.23-$0.26 vs est $0.22

* Sees Q2 rev $200 mln-$208 mln vs est $191.4 mln

April 21 (Reuters) - Chipmaker Intersil Corp ISIL.O posted first-quarter results that exceeded expectations on continued recovery in its industrial and communications end markets, and forecast strong second quarter results.

Intersil expects second quarter earnings of 23 cents to 26 cents a share on revenue of $200 million to $208 million.

Analysts’ average estimate was a profit of 22 cents a share on revenue of $191.4 million for the second quarter, according to Thomson Reuters I/B/E/S.

For the first quarter, the company earned $27.7 million, or 22 cents a share, compared with $2.4 million, or 2 cents a share in the year-ago period.

Analysts on average were expecting Intersil to post a profit of 20 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose about 60 percent to $189.4 million, surpassing the average analysts’ estimate of $185 million.

“The industrial and communications end markets continued their strong recoveries, while our computing end market performed better than anticipated due to strength in the worldwide PC business,” Chief Executive Dave Bell said.

Shares of the company closed at $16.75 Wednesday on Nasdaq.

For the alerts, click here. [ID:WNAB0545] (Reporting by Deepti Govind in Bangalore; Editing by Ratul Ray Chaudhuri)

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