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Intersil Blows Away Estimates

The company also guides higher for its current quarter.
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Intersil (ISIL) blew past third-quarter estimates and set the bar higher for results in its fourth quarter now under way.

The announcement after the bell Wednesday immediately sparked the company's stock, which jumped 9% in after-hours trading to $23 on Instinet.

The analog-chip maker said it earned $27.2 million, or 17 cents a share, compared with a loss from continuing operations a year earlier of $24.5 million, or 17 cents a share.

Excluding items, earnings rose to $30.8 million, or 21 cents a share, from $16.2 million, or 11 cents a share, a year ago.

Revenue rose 24% to $157.2 million.

Both EPS and revenue results beat analysts' consensus estimates, which called for earnings before items of 17 cents and revenue of $147.8 million.

"Our growth and cost control initiatives are clearly paying off in the form of increased profits," said CEO and President Rich Beyer in a statement. "Gross margins increased to over 56%, and our operating income improved to more than 22% of sales."

For the fourth quarter, the company expects revenue growth of 5% to 7%, suggesting a range of $165.1 million to $168.2 million. The current Thomson First Call consensus estimate is $154.9 million.

In addition, Intersil projects fourth-quarter earnings of 23 cents to 24 cents a share, above the current estimate of 19 cents a share.