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February 19, 2013
07:42 EDTISILIntersil to cut workforce by 18%
Intersil announced restructuring initiatives designed to prioritize the company's sales and development efforts, strengthen financial performance and improve cash flow. The restructuring plans will be substantially completed during the Q1 of FY13 and are expected to reduce annual operating expenses by approximately $30M. A restructuring charge of approximately $15M for severance related benefits is expected during the Q1. The refocusing effort will reduce the company's global work force by approximately 18%. Costs savings are expected to be achieved through reductions in work force and increased focus on new product development efforts.
News For ISIL From The Last 14 Days
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October 30, 2014
15:28 EDTISILIntersil sees lower sequential computing revenue as PC builds slow
Shares of Intersil (ISIL), which makes analog integrated circuits for the personal computer market, are lower after the company reported Q3 results that missed analysts' expectations. The company also gave Q4 guidance well below the consensus view for both earnings and revenue. On its earnings conference call last night, the company said it sees slowing sequential demand in part due to lower PC builds. Stocks that are leveraged to the PC sector include Intel (INTC), Texas Instruments (TXN), Advanced Micro Devices (AMD) and Microsoft (MSFT). In late day trading, shares of Intersil fell $1.81, or 12.9%, to $12.27.
October 29, 2014
16:54 EDTISILIntersil sees Q4 adjusted EPS 13c-15c, consensus 19c
Sees Q4 adjusted revenue $125M-$132M, consensus $145.4M
16:53 EDTISILIntersil reports Q3 adjusted EPS 19c, consensus 20c
Reports Q3 revenue $143.6M, consensus $150.02M.

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