MILPITAS, Calif., Oct. 30, 2013 (GLOBE NEWSWIRE) -- Intersil Corporation (Nasdaq:ISIL), a leading provider of innovative power management and precision analog solutions, today announced financial results for the third quarter ended October 4, 2013.
- Revenue of $152.6 million increased 5% sequentially, and 1% year over year.
- Non-GAAP gross margin improved 30 bps sequentially and 140 bps year over year.
- Non-GAAP operating margin improved to 20%.
- $0.06 per share GAAP loss was driven primarily by one-time events, while non-GAAP EPS increased by 43% sequentially and 100% year over year to $0.20.
Revenue for the third quarter was $152.6 million, a slight increase compared to the same period last year. Intersil's industrial and infrastructure revenue grew sequentially, which was better than expected due to healthy demand in automotive and aerospace. Consumer revenue increased 25% sequentially reflecting seasonal strength particularly for products sold into handsets, tablets and gaming consoles. Computing revenue remained stable, also reflecting seasonal strength. The breakdown by end market was as follows:
|Q3 2013||Q2 2013||Q3 2012|
|End Market:||Revenue $M||% of Revenue||Revenue $M||% of Revenue||Revenue $M||% of Revenue|
|Industrial & infrastructure||$ 87.8||58%||$ 87.0||60%||$ 85.6||57%|
|Revenue||$ 152.6||$ 144.8||$ 151.4|