MANHASSET, N.Y. A mixed bag of news continues to permeate the semiconductor industry, with Intersil Corp. seeing a slight sales uptick but ON Semiconductor and Cirrus Logic Inc. seeing lower sales as seasonally slow demand and falling prices played factors.
Intersil (Milpitas, Calif.) reported net income of $12.8 million, or 9 cents per share on sales of $128.1 million the first quarter ended March, compared to $15.8 million, or 11 cents per share on sales of $127.1 million the previous quarter and $27.3 million, or 19 cents per share on sales of $137.4 million a year ago.
The company reported gross margin of 55.3 percent, and strong sequential growth in the industrial market which accounted for 29 percent of sales.
ON Semiconductor (Phoenix, Ariz.) reported net earnings of $14.8 million, or 4 cents per share on sales of $302.4 million in the first quarter, compared with a net loss of $88.3 million, or 36 cents per share on sales of $306.8 million in the previous quarter, including charges.
ON saw average selling prices and gross margin decline sequentially, and said it is continuing to work down inventory levels. The company expects flat sales during the second quarter ending June.
Cirrus Logic (Austin, Texas) posted net income of $2.5 million, or 3 cents per share on sales of $40.4 million in the fourth fiscal 2005 quarter, compared with $2.5 million, or 3 cents per share on sales of $44.0 million the previous quarter. Gross margin was 53.1 percent, up from 39.1 percent the previous quarter.
On Monday, Cirrus Logic said it would divest its digital video product line to focus on precision analog, mixed-signal, and embedded ICs.
Cirrus expects sales for the first 2006 fiscal quarter ending June to reach $40 to $41 million, with gross margin of 55 to 57 percent.