This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Intersil's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Please note that some comments made during this conference call may contain forward-looking statements. I'd like to remind you that while these statements reflect our best current judgment, they are subject to risks and uncertainties that could cause our actual results to vary. These risks factors are discussed in detail in our filings with thee Securities and Exchange Commission.

In addition during this call, we may refer to financial measures that are not prepared according to generally accepted accounting principles. We sometimes use these measures because we believe they provide useful information about reforms of business and should be considered by investors in conjunction with GAAP measures reported. Our agenda for the call today is thus follows. Dave Bell will discuss key highlights in the quarter, Jonathan Kennedy will review the quarter from a financial perspective, and Dave will follow up with additional commentary on each of our three key markets as well as our forward times. The Q&A session will follow. I would now like to turn the cal over to Dave Bell, President and CEO of Intersil.

Dave Bell

Thanks Brendan. Good afternoon and thank you for joining us today for Intersil's first quarter 2012 earnings conference call. I'll first quickly review the results of the first quarter and then I'll make detailed comments about each of our end markets after Jonathan Kennedy's financial report. We reported first quarter revenues of $156.0 million, a 22% decrease from 198.9 million in the first quarter of 2011 and a 6% decrease from 165.8 million in the fourth quarter of 2011. We continue to generate steady free cash flow, paid out our long-term debt, and reduced inventory. Jonathan will provide more financial details in his remarks.

Although the overall market conditions in the first quarter remained weak, orders steadily improved and our book-to-bill ratio remained above 1 throughout the quarter. We believe the first quarter was the bottom of the cycle for Intersil and we expect to see steady growth in the second quarter as channel inventories stabilize at low levels and demand begins to recover.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.20 0.60%
FB $117.96 -0.51%
GOOG $694.43 -0.54%
TSLA $234.31 -3.10%
YHOO $35.96 -1.60%


Chart of I:DJI
DOW 17,693.14 -198.02 -1.11%
S&P 500 2,058.37 -23.06 -1.11%
NASDAQ 4,758.8160 -58.7780 -1.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs