Intersil Corporation Reports First Quarter Results

 

Intersil Corporation

Non-GAAP Results

Unaudited

(In thousands, except percentages)








Quarter Ended


Apr. 3,


Jan. 2,


Apr. 4,


2015


2015


2014


Q1 2015


Q4 2014


Q1 2014







Non-GAAP gross profit:






  GAAP gross profit

$   80,326


$ 78,193


$ 78,905

  Equity-based compensation COS

392


319


319

    Non-GAAP gross profit

$   80,718


$ 78,512


$ 79,224







Non-GAAP gross margin:






  GAAP gross margin

59.9%


59.6%


56.3%

  Equity-based compensation COS

0.3%


0.2%


0.3%

    Non-GAAP gross margin

60.2%


59.8%


56.6%







Non-GAAP operating expenses:






  GAAP operating expenses

$ 144,131


$ 60,766


$ 64,127

  Provision for export compliance settlement

-


-


(4,000)

  Provision for TAOS litigation

(81,100)


-


-

  Equity-based compensation (excl. COS)

(5,364)


(4,689)


(3,391)

  Amortization of purchased intangibles

(5,561)


(5,559)


(5,561)

    Non-GAAP operating expenses

$   52,106


$ 50,518


$ 51,175







Non-GAAP operating income:






  GAAP operating (loss) income

$  (63,805)


$ 17,427


$ 14,778

  Provision for export compliance settlement

-


-


4,000

  Provision for TAOS litigation

81,100


-


-

  Equity-based compensation

5,756


5,008


3,710

  Amortization of purchased intangibles

5,561


5,559


5,561

    Non-GAAP operating income

$   28,612


$ 27,994


$ 28,049







Non-GAAP operating margin:






  GAAP operating margin

(47.6)%


13.3 %


10.6 %

  Excluded items as a percent of revenue

68.9 %


8.0 %


9.4 %

    Non-GAAP operating margin 

21.3 %


21.3 %


20.0 %








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