MANHASSET, N.Y. Semiconductor supplier Intersil Corp. reported fourth-quarter net earnings of $28.7 million, or 20 cents per share on sales of $175.6 million, up from $15.6 million, or 11 cents per share on sales of $127.1 million in the year-ago quarter.
Intersil (Milpitas, Calif.) met the higher sales and earnings guidance it issued in November, citing higher fourth-quarter seasonal sales and order rates.
For 2005, Intersil earned $85.9 million, or 59 cents per share on sales of $600.3 million, up from $40 million, or 28 cents per share on sales of $535.8 million in 2004. The company expects first fiscal 2006 quarter earnings of 20 to 21 cents per share with sales flat with the fourth quarter.
In an unrelated announcement, Intersil named Louis DeNardo its president and chief operating officer. DiNardo joined Intersil in July 2004 when the company acquired Xicor Inc., where he president and CEO..
Analog and mixed-signal supplier Cirrus Logic Inc. (Austin, Tx.) reported net earnings of $12.8 million, or 15 cents per share on sales of $48.3 million in its third fiscal 2006 quarter ended Dec. 24, 2005. In the year-ago quarter, Cirrus earned $2.5 million, or 3 cents per share on sales of $44.0 million.
Gross margin for the company’s analog, mixed-signal, and embedded products was 55.1 percent, down slightly from 55.4 percent the previous quarter.
For the fourth fiscal 2006 quarter ending March, Cirrus expects revenue of $41 to $45 million. Gross margin is projected to be 55 to 57 percent.