Despite a shrinking profit, Intersil (ISIL) narrowly edged analysts' first-quarter estimates, and it plans on doing the same in the second quarter.
The company's shares jumped nearly 5% to $16.30 in the after-hours session; they closed the regular session at $15.55.
The chipmaker said after the bell Wednesday that its net income for the quarter ended April 1 fell to $12.8 million, or 9 cents a share, from $27.3 million, or 19 cents a share a year earlier.
Excluding items in both quarters, profit rose to $17.5 million or 12 cents a share, from $16.3 million, or 11 cents a share, a year earlier. On this basis, the results beat analysts' expectations of 11 cents a share.
Revenue slipped to $128.1 million from $137.4 million last year but nipped the Thomson First Call survey consensus of $124.9 million.
For the second quarter, Intersil expects sequential revenue growth of 4% to 6% -- implying a midpoint of about $134.5 million -- and earnings before items of about 13 cents to 14 cents a share. Analysts were expecting second-quarter earnings of 12 cents a share on revenue of $129.7 million.