swung to a fourth-quarter profit as revenue rose 4% and the analog semiconductor manufacturer held expenses steady. The shares inched higher in the after-hours session as the company nudged up its first-quarter guidance.
Intersil earned $23.7 million, or 17 cents a share, on revenue of $136.1 million in the latest quarter, compared with a loss of $4.1 million, or 3 cents a share, on revenue of $125.6 million last year. Excluding annoying expenses like intangible amortization and investment losses and gains, Intersil earned a pro forma $25.8 million, or 18 cents a share in the quarter, which matched the consensus estimate compiled by Thomson One Analytics.
The company expects to earn 18 cents or 19 cents a share in the first quarter on revenue of $136 million to $138 million. Analysts were forecasting earnings of 18 cents a share on revenue of $134 million. "We are very encouraged by the broad-based strength in orders and end market demand that we experienced in the fourth quarter," Intersil said.
The shares recently traded at $24.99 on the Island ECN, up from the 4 p.m. EST close of $24.99.