However, unlike prior cycles, the industrial and communications infrastructure market softened quickly, almost in concert with the drop of the computing and consumer markets. This unusual behavior contributed to the surprisingly rapid drop in the third quarter.We reported third quarter revenues of $186.8 million, an 11% decrease from the second quarter, and a 15% decrease from the third quarter of 2010. The combination of seasonal shifts in product mix and lower manufacturing utilization resulted in our gross margin dropping by 120 basis points to 57%.
Intersil CEO Discusses Q3 2011 Results - Earnings Call Transcript
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