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Intersil Corporation
Company
Company Briefing Book
PwCR&A Business
InformationServices
November 2011

Briefing Book Intersil Corporation Company
PwC R&A Business Information Services Page 2 of 35
Table of Contents
Executive Summary ....................................................................................................................................3
Company Overview.....................................................................................................................................4
Business Description ...........................................................................................................................4
Company History ................................................................................................................................4
Products & Services.............................................................................................................................6
Corporate Family.................................................................................................................................7
Corporate Hierarchy.....................................................................................................................7
Corporate Family Details..............................................................................................................8
Strategy ..............................................................................................................................................9
SWOT Analysis..................................................................................................................................10
Strengths...................................................................................................................................10
Weaknesses ............................................................................................................................... 11
Opportunities ............................................................................................................................ 12
Threats...................................................................................................................................... 13
Financial Performance .............................................................................................................................. 15
Analysis............................................................................................................................................ 15
Analyst Commentary ......................................................................................................................... 15
Key Developments: Performance ........................................................................................................ 17
Competitive Landscape ............................................................................................................................. 18
Market Share Concentration............................................................................................................... 18
Key Success Factors........................................................................................................................... 18
Peer Comparison............................................................................................................................... 19
Officers and Executives.............................................................................................................................20
Recent Headlines......................................................................................................................................26
Financials ................................................................................................................................................27
Annual Balance Sheet ........................................................................................................................27
Annual Income Statement..................................................................................................................30
Annual Cash Flow Statement..............................................................................................................32
Ratios...............................................................................................................................................34

Executive Summary
Intersil Corporation (ISIL)
Revenue (US$M) $822.4 Intersil Corporation designs, develops,
manufactures and markets analog and mixed-
signal integrated circuits (ICs). The Company
develops products for the consumer electronics
market. Its products are focused on its portfolio of
Application-Specific Standard Products (ASSP)
and General Purpose Proprietary Products
(GPPP), which are targeted within the industrial,
computing, communications and high-end
consumer markets. OnApril 27, 2010, the
Company completed the acquisition of Techwell,
Inc. (Techwell). On January 8, 2010, the
Company acquired the business of Rock
Semiconductor (Rock).
Employees 1762 (2010)
Location CA, United States
Auditor KPMG LLP
FY End Dec 31, 2010
Status Public
Primary ExchangeNASDAQ
DUNS 124851549
Phone 408-432-8888
Website http://www.intersil.com
FY10 FY09 FY08 MRQ
Total Rev. ($M) 822.4 611.4 769.7 186.8
% Change 34.51% -20.56% 1.67% -14.74%
SG&A 137.5 120.7 124.3 34.2
% of Sales 16.71% 19.74% 16.14% 18.38%
Op. Income 129.9 57.5 121.5 20.2
Op. Margin 15.79% 9.40% 15.78% 10.81%
Key Financials
59.5%
32.0%
4.5%
4.0%
US Market Share: Semiconductor &
Circuit Manufacturing
Others
Intel
IBM
Micron
Source: IBISWorld

Company Overview
Business Description
Source: Reuters
Intersil Corporation designs,develops, manufactures and markets analog and mixed-signal integrated circuits
(ICs). The Company develops products for the consumerelectronics market. Its products are focused on its
portfolio ofApplication-Specific Standard Products (ASSP) and General Purpose Proprietary Products (GPPP),
which are targeted within the industrial, computing, communications and high-end consumer markets. On
April 27, 2010,the Company completed the acquisition ofTechwell, Inc. (Techwell). On January 8, 2010, the
Company acquired the business ofRock Semiconductor(Rock).
Industrial
The Company’s industrial products include its operational amplifiers,bridgedrivers,isolated and non -isolated
power management products, switches and multiplexers, video decoders, and otherstandard analog and power
management products. These products target end markets including medical imaging,energy management,
automotive, solar generating devices, military, instrumentation, security surveillance and factory automation.
Computing the Company’s computing category includes desktop, server, notebook and network attached
storage power management. It also includes corepower devices and otherpowermanagementproducts for
peripheral devices as well as lithium ion battery chargers.
Communications
The Company’s communications group is made up ofits line drivers,isolated and non-isolatedpower
management. It also includes Zilker Labs digital power management products, broadband and hot plug power
management products and high-speed data converters targetedto applications in markets, such as digital
subscriber line (DSL), home gateway, satellite, networking, cellular base station and networking/switching
equipment.
High-End Consumer
The Company’s high-endconsumer products include its gaming, light sensors, D2Audio Class D amplifiers,
displays and handheldproducts. These products target high-growth applications, such as electronic game
systems,moving picture experts group layer-3 audio (MP3) players,global positioning system (GPS) systems,
liquid crystal display (LCD) televisions, audio video (AV) receivers and home audio systems, tablet computers,
set top boxesand smart phones. The Company competes with Texas Instruments, Analog Devices, Linear
Technology, ON Semiconductor and Maxim Integrated Products.
Company History
Source: Datamonitor
Intersil was formed in 1999, through a series oftransactions in which the company and a wholly owned
subsidiary acquired the semiconductor business ofHarris.
In 2000, the company acquired privately held No Wires Needed or NWN, for 3.35 million shares ofthe
company's Class A Common Stock. NWN utilized the PRISM chip set togetherwith its own high data rate
digital controller integrated circuits allowing end users to wirelessly connectmultiplecomputers and hand-held
or internet appliances to a wired broadband network.
In the same year, Intersil entered into a purchaseagreement with ChipPAC, a California corporation whereby
ChipPAC acquired all ofthe company's Kuala Lumpur, Malaysia-based semiconductor assembly and test

PwC R&A Business Information Services Page 5 of35
operations. The same year, the company also acquired privately heldSiCOM for 3.6 million shares ofClass A
Common Stock. Based in Scottsdale, Arizona,SiCOM provided modem chip sets, hardware referencedesigns,
and software for broadband wireless infrastructure and access applications.
In the following year,Intersil sold its discretepower business to Fairchild Semiconductor International. Also in
2001,Intersil closed its Findlay, Ohio, fabrication facility and exited its automotive productline. The Findlay
based plant, which was the primary production location for the company's automotiveproducts line, was sold
and all production related to operations ceased.
Intersil consummated the merger with Elantec Semiconductor in 2002. During the following year, Intersil
completed the sale ofits Wireless Networking Product Groupto GlobespanVirata for $250 million in cash and
GlobespanVirata stock. Next year, Intersil acquired Xicorby issuing Intersil Class A common stock and cash.
In 2007, Intersil openedits new sales office in Beijing, China. During the same period, Intersil was listed on the
NASDAQ Stock Market. Intersil launched the world's first digitally programmablegain and slope temperature
compensation IC. In the same year, Intersil acquired Planet ATE, a privately held fabless semiconductor
supplier to the automated test equipment (ATE) market. Intersil opened a new design center in Hyderabad,
India staffed with experienced semiconductordesigners. Subsequently, Intersil and Zhejiang University in
Hangzhou, China, launched a cooperative R&D project and openeda new Power Management Research
Laboratory at the University.
During 2008, the company launched a new power management ICs that was designed for notebook, server and
desktop computers based on Intel's Montevina platform. In the same year, Intersil opened a new design and
application centerin Hangzhou, China. Later in the year, the company signed a definitive agreement to acquire
D2Audio, a privately heldprovider ofdigital audio power amplifiers for consumer, commercial, automotive and
professional audio applications.In the same year, the company acquired Kenet, a privately held fabless
semiconductor company.Subsequently, the company acquired Zilker Labs, a privately held fabless
semiconductor company.
In August 2009, the company signed a definitive agreement to acquire privately heldanalog signal processing
IC design company Quellan. In the same month, the company Intersil signed a Memorandum ofUnderstanding
(MoU) with Tower Semiconductorto jointly develop a new high-performancepowermanagementspecialty
process technology platform.
Intersil and the Georgia Institute ofTechnology formed a joint alliancefor the developmentofhigh -
performance semiconductors in October 2009. The agreement includes the opening ofa major new
development facility and the kick-offofseveral new programs dedicated to the research and development of
advanced power management semiconductor technologies.
In December 2009, Intersil signed a definitive agreementto acquireRock Semiconductor, a privately-held,
fabless semiconductorcompany with technology leadership in highly integrated powermanagement ICs.
In March 2010, Intersil entered into a definitiveagreement to acquireTechwell,a fabless semiconductor
company that designs, markets and sells mixed signal video semiconductor solutions for the security
surveillance and automotiveinfotainment markets for approximately $370 million. The acquisition was
completed in April 2010. In the same month,the company launched iSim Active FilterDesigner for operational
amplifier-based active filters.
Intersil and Power-One signed an agreement under whichIntersil has licensedPower-One's Digital Power
Technologies (DPT) in September 2010. The license expands the marketfor Intersil's industry leading analog
and digital power management products that providedigital monitoring and control,including those that
support the PMBus protocol.

Products & Services
Source: Datamonitor
Intersil designs,develops, manufactures and markets high performance analog integrated circuits. The
company's key products and services include the following:
Products
 Amplifiers/Buffers
 ATE ICs
 Automotive integrated circuits (ICs)
 Communications ICs
 D2Audio (Audio ICs)
 Data converters
 Digital potentiometers
 Digital ICs
 Display ICs
 Industrial Process Control Solutions
 InterfaceICs
 Optical storage
 Optoelectronics
 Power management
 Precision Analog
 Quellan Signal integrity products
 Space/Defense
 Special analog
 Switches/MUXes/Crosspoints
 Timing circuits
 Video ICs
 Video products from Techwell
 Voltage references
 Zilker Labs' Digital Power
 Services:
 Design assistance:
 Application block diagrams
 Application notes
 Application support
 Design models
 Technical Documentation
 Engineering resources
 iSim design simulation
 Packaging information
 Product cross reference

Corporate Family
Corporate Hierarchy
Principal Subsidiaries Only
Note:Spread sheet attached for Global Corporate Hierarchy.
Intersil_Corporation.
xlsx
Intersil Corporation Company
Elantec Semiconductor Inc.
Intersil SwissHolding SÃ rl
Intersil Holding Gmbh
Intersil Europe SÃ rl
Intersil Communications Inc.
Intersil Sa
Xicor Llc

Corporate Family Details
Source: Factiva-Dow Jones
Company Name Rev. ($M) Empl. City State Country Line of Business
Elantec Semiconductor Inc. 94.7 311 Milpitas CA USA Semiconductors
Intersil Swiss Holding SÃ rl Zug ZG Switzerland
Diversified
Holding
Companies
Intersil Holding Gmbh 6.7 0 17 St. Gallen SG Switzerland
Diversified
Holding
Companies
Intersil Europe SÃ rl 3.64 9 Lausanne VD Switzerland
Passive
Components
Intersil Communications
Inc.
94.00 1300 Milpitas CA USA Semiconductors
Intersil Sa 8.00 1 Bruxelles Belgium Engines/Turbines
Xicor Llc 7 57.00 1100 Milpitas CA USA Semiconductors

Strategy
Source: 10k
Broaden our Portfolio of High- Perform ance General Purpose Products-
These products are the building blocks oftoday's advanced electronics. Customers in these markets value
performance and differentiation which can translateinto higherprofitability and longer product life cycles.
Participate in Large Vertical Markets-
They develop products for the consumerelectronics marketwith the potential for high growth. They believe
that the demand for ICs in these markets will be higher than that in the overall semiconductor industry.
Maintain Technology Leadership-
They have more than 800 research and developmentemployees working on innovativesolutions for analog and
mixed- signal architectures. In conjunction with these efforts, they continueto expand their strong intellectual
property position by seeking to increase their existing portfolio ofover1,200 patents.
Maintain Quality Customer Service-
Quality customer service is critical to their customer retention and sales growth. Through their customer
relations initiatives, the company believes they distinguish themselves from their competitors. Additionally,
their sales force,authorized representatives and distributors provide customer information programs and
support for their comprehensiveglobal customer service efforts.
Partner with Leaders in Sem iconductor Markets,Products and Services-
Partner with Leaders in their Target Markets. They partner with industry leaders in each of their target markets
to deliver advanced technology for rapidly emerging applications. Their customer base ofindustry leaders
illustrates the acceptance of their products to date,and they continueto partner with thesecustomers and
others to developand market their next generation products. Their applications and design engineers support
their customers'end product development.
Utilize Specialty Expertise in Manufacturing Services -
They employ high- volumeand specialty suppliers ofproducts and services in their industry. They outsourcea
substantial portion of their wafer needs as well as assembly,test and packaging requirements. They utilize
merchants who specialize in those products and services and deliver them at reasonable cost. This reduces their
capital requirements and enhances theirflexibility in managing their ever- changing business.

SWOT Analysis
Source: Datamonitor
Strengths Opportunities
 Strong research and development
 Diversified revenue stream
 Extensive product offerings
 Strategic acquisitions
 New product launches
 Growth in semiconductor market
Weaknesses Threats
 Dependence on few customers
 Lack of scale
 Reliance on third parties for manufacturing
 International operations risk
 Patent lawsuits
 Intense competition
Strengths
Strong research and development capabilities
The company has strong research and development (R&D) capabilities.The company has been investing
significant amount on R&D over a period oftime.
It recorded R&D expenses of$145.1 million in FY 2009, $143.6 million in FY 2008 and $134.4 million in
FY 2007, recording a compounded annual growth rate(CAGR) of 4% for the period 2007-09. The company has
more than 1,100 patents in the US and approximately 780 patent applications pending. As a result ofits focus
on R&D, the company upgraded its major products and introducednew products in the recent times.
Strong R&D allows the company to launch new products in the recent times.For instance, in November 2010,
the company introduced a version ofits popular ISL8200M DC/DC power module designed for defense, harsh
environment and avionics applications. Earlierin the month, it launchedits HEV/EV system solution,featuring
an automotive grade Li-Ion battery management system and safety monitor. In October 2010, the company
launched a new family ofinnovative multi-channel LED drivers, which provide an ultra-low dimming capability
that can significantly extend battery life in notebook, netbook and tabletcomputers.
Intersil's strong R&D capabilities place the company at a competitive advantage, enabling it to enhanceproduct
portfolio with new and innovative products.
Diversified revenuestream
The company is well diversified in terms ofmarket segments that it serves. The company's operations are
diversified among different markets such as computing, high end consumer, communications, and industrial.
The company's high end consumerproducts target high growth applications such as electronic game systems,
DVD players and recorders, MP3 players, and LCD televisions. The communications division targets DSL, home
gateway, satellite,networking,and networking/switching equipment. The industrial division targets end
markets including medical imaging, energy management, automotive, solargenerating devices, military and

factory automation. The computing division serves desktop, server and notebook power management. In
FY 2009,the company generated about 32.9%ofits total revenue from computing division, followed by 25.1%
from high-end consumer;21.7%from communications;and 20.2%from industrial divisions.
Diversified revenue streams not only shields the company against demand fluctuations in a specific market or
industry by dispersing its business risks, but also enables it to tap the opportunities available in new as well as
existing markets.
Extensiveproduct offerings
Intersil designs,develops, manufactures and markets high-performanceanalog and mixed-signal integrated
circuits. The company's product portfolio addresses opportunities within the high-end consumer, industrial,
computing and communications markets.
The high-end consumer products includegaming, light sensors,optical storage, displays and handheld products
targeting high growth applications such as electronic game systems,DVD players and recorders,MP3 players,
GPS systems, LCD and smart cell phones. Its industrial products include operational amplifiers,bridgedriver
power management products, switches and multiplexers targeting end markets including medical imaging,
energy management, automotive, solargenerating devices, military and factory automation.
The company's communications productportfolio is used for applications in markets such as DSL, home
gateway, satellite,networking,cellularbase station and networking/switching equipment. Its computing
category includesdesktop, server and notebook power management, including core power devices and other
power management products for peripheral devices.
The company's extensiveproduct offerings allow it to serve a wide range ofcustomers and end markets
diversifying its business.
Weaknesses
Hom e im provement provides opportunity to increase sales
The company is highly dependent on few ofits customers for major portion ofits revenues. Intersil markets its
products to OEM customers, original design manufacturer, and contract manufacturers through direct sales or
distributors. In FY 2009, three distributor customers,one OEM customer and two contract manufacturers, each
accounting for at least 5%ofthe company's revenues,together accounted for 54%oftotal revenues. Among
them, one distributor, Aeco Technology represented 14%ofrevenues and 16%ofaggregate net accounts
receivable in FY 2009. Loss ofa significant customer will adversely affect the company's financial performance.
Dependence on few customers results in concentrated revenuebase, increasing the business risk ofthe
company.
Lack of scale
Intersil lacks the scale to competewith otheranalog semiconductor providers like Analog Devices, Maxim
Integrated, LinearTechnology and Texas Instruments. The company generated total revenuesof$611.4 million
in FY 2009 with employee strength ofabout 1,503. In contrast, Analog Devices, a competitor ofthe company,
recorded $2,014.9 million ofrevenues and reportedemployees of8,300, in financial yearended November
2009.
Similarly, other competitors like Linear Technology and Maxim Integratedrecorded $1,170 million revenue s
with employees of4,191people;and $1,646 million revenues with employees of8,765, respectively, in financial
year ended June 2009. In addition, the company also competes with conglomerates like Texas Instruments,
which have huge revenues, wide rangeof portfolio and worldwidepresence.
Huge scale enables these competitors to leverage on their facilities and technologies.Lack ofscale limits
Intersil's ability to expandits operations.

Opportunities
Strategic acquisitions
Intersil has done a number of strategic acquisitions in the recent past to enhance its product portfolio. In 2010,
the company acquired Techwell, preceded by the acquisitions ofacquired Quellan and Rock Semiconductorin
FY 2009.The company acquired Zilker Labs, Kenet, and D2Audio in 2008.
In March 2010, the company agreed to acquire Techwell for approximately $370 million. Techwell, with over
200 employees in the US, China, Japan, South Korea and Taiwan, is a fabless semiconductor company that
designs and sells mixed signal video solutions for the security surveillanceand automotive infotainment
markets. This acquisition will significantly increase the company's overall industrial business, which is expected
to become Intersil's largestend market at approximately 31%ofrevenue.
In December 2009, the company acquiredRock Semiconductor, a privately-held, fabless semiconductor
company with technology leadership in highly integrated power management ICs. Rock Semiconductor's
products are a perfect fit with Intersil's expanding portfolio ofpower management,audio and communications
ICs. In addition, the acquisition ofRock will immediately giveIntersil an expanded presencein the local
Chinese market.
In August 2009, Intersil signed a definitive agreement to acquire Quellan, a privately held leaderin the design
of high performance analog signal processing integrated circuits (ICs). Quellan's Q: ACTIVEtechnology delivers
signal integrity for improved system throughput and density with dramatically reduced powerconsumption.
This acquisition addresses many ofIntersil's existing vertical markets, and also creates opportunities in new
areas ofthe analog ICmarket. These acquisitions will enhancethe company's targeting markets and customer
base.
New product launches
The company has launchedsignificantnew products in the recent past. In November 2010, the company
introduced its HEV/EV system solution, featuring an automotive grade Li-Ion battery management system and
safety monitor.The automotive gradesolution is specifically designed and tested to address the safety,
reliability and performance requirements ofthe hybrid, plug-in hybrid (PHEV) and electric vehiclemarkets. In
October 2010, it launched a new family ofinnovative multi-channel LED drivers, which provides an ultra-low
dimming capability that can significantly extend battery life in notebook, netbook and tablet computers.
In September 2010, the company introducedan efficient, dual channel step-down regulatorthat reduces
component countand optimizes design flexibility for high power-density industrial, communications and
consumerelectronics applications. Earlier in 2009, the company launched a new series ofsmall-footprint quad
16.5kV ESD-protected RS-422 transmitters, which features wide supply-voltage operating ranges for motor
control applications, process control networks, telecommunications products and factory automation systems.
New product launches enhances the product portfolio ofthe company thereby increasing the customer base,
which in turn provides incremental revenues to the company.
Growth in sem iconductor m arket
The global semiconductor industry is forecast to record strong growth in near future. The worldwide
semiconductor industry is expected to grow 30.6%to $300.3billion from $229.9 billion in 2009,
demonstrating the industry recovery. The increasein the sales ofPCs and memory chips is projected to drive
the demand ofsemiconductor revenues. DRAMand NAND flash memory arethe significantchip segments in
the first quarter of2010. The overall global semiconductorrevenues in 2010 are projected to reach $280 billion,
representing a growth ofover20%from 2009.Further, the automotive semiconductormarket is also expected
to report a strong growth in the coming years.According to the industry sources, the automotive semiconductor
market is expectedto reach a value ofover$18 billion in 2010, representing a growth rate of16%over2009.The
growth is attributed to increase in the light vehicle production.

Intersil designs,develops, manufactures and markets high-performanceanalog and mixed-signal integrated
circuits. The company's product portfolio addresses opportunities within the high-end consumer, industrial,
computing and communications markets.The growth in the semiconductor market will enhancethe demand
for the company's portfolio ofproducts. Positive outlook for semiconductor market will enhancethe company's
business opportunities.
Threats
Reliance on third parties for m anufacturing
The company depends significantly on third parties for its manufacturing operations.It depends on foundry
suppliers and subcontractors for manufacturing ofsilicon wafers containing integrated circuits. The company
relies on foundry suppliers such as IBMMicroelectronics, Taiwan Semiconductor Manufacturing, and United
Microelectronics.The packaging and testing processes ofwafers are performedby independentsubcontractors
located in Malaysia, China, Taiwan and the Philippines. During FY 2009, 84%ofthe production ofsilicon
wafers was outsourced to foundry partners and remaining 14%was internally produced by the company.
Intersil doesn't have any obligations with these third party foundries regarding the supply ofproducts. As a
result, the company cannot directly control semiconductordelivery schedules, which may lead to product
shortages,quality assurance problems and increases in the cost ofproducts.The disruption in the availability of
wafers and other semiconductor materials will significantly impact the company's ability to deliver products to
customers. Any failure ofthe company to establish and maintain successful relationships with thesethird party
foundries will adversely affect its business and operating results in future.
International operations risk
The company derived approximately 83.3%and 81% of its revenues from international operations in FY 2009
and 2008, respectively. Intersil expects that international sales would continue to accountfor a significant
majority oftotal revenues in future years.The company is subject to various challenges related to the
management ofglobal operations, and international sales. Some ofthe risks related to international sales
include economic and political conditions;fluctuations in interest and currency exchangerates;ability to
develop relationships with local suppliers;and compliance with international laws and regulations,including
the European Union's Restriction ofHazardous Substances (RoHS).
Many of the challenges pertaining to international operations are applicablein China, which is a large and fast
growing market for semiconductors. As the business volumebetween China and the rest ofthe world grows,
there is inherent risk, based on the complex relationships between China, Taiwan, Japan, and the US. The
political and diplomatic influences might lead to tradedisruptions whichwill adversely affect Intersil's business
with China, Taiwan and the entire Asia Pacific region.A significant trade disruption in these areas may
negatively impact Intersil's future revenues and profits.
Patent lawsuits
Intersil is a defendant in a patent lawsuit during 2009.In 2008, Texas Advanced Optoelectronic Solutions filed
a patent lawsuit against the company in the United States District Court for the Eastern District ofTexas. In this
case, TAOS alleges patent infringement, breach ofcontract, tradesecret misappropriation,and tortuous
interference with a business relationship, seeking damages and injunctive relief. The dispute is in pending and
the company cannot assure the outcome.Such issues requireextensive management attention and resources,
and any unfavorableresolution oflawsuits will affect the company's business operations and image.

Intense competition
The high performance analog and mixed-signal market in which the company operates is extremely
competitive. The company competes in target markets with many companies that may have significantly greater
financial, technical, manufacturing and marketing resources than it, including but not limited to Texas
Instruments, Analog Devices,Linear Technology, and Maxim Integrated Products.
The company competes on the basis oftechnical performance,product features, customized design, price,
availability, quality, and sales and technical support. The company's ability to compete successfully depends on
elements both within and outside ofits control, including successful and timely development ofnew products
and manufacturing processes, product performance and quality, manufacturing yields,product availability,
intellectual property protection obtained by itselfand its competitors, customerservice, pricing,industry trends
and general economic trends.

Financial Performance
Analysis
Source: Seeking Alpha
The company reported third
quarter revenues of$186.8 million,
an 11%decrease from the second
quarter, and a 15%decreasefrom
the third quarter of2010. The
combination ofseasonal shifts in
productmix and lower
manufacturing utilization resulted
in their gross margin dropping by
120 basis points to 57%. In
reaction to the downturn, Intersil’s management team reacted swiftly to reducetheir operating expenses by 7%
compared to their third quarterguidance. This prompt responseto the downturn significantly reduced the drop
in their earnings, and they have every expectation that they will see further reductions in the coming quarter.
ring the quarter, they refinanced their long term debt.This reduced theiralready low interestexpense even
further, which will improve EPSby a penny in future quarters. As a result, the company reported net incomeof
$7 .2 million, or $0.06 per diluted share. Their non-GAAP net incomeand EPS for the third quarter was $25.8
million or $0.20 per diluted share.
Analyst Commentary
Source: Morningstar
Analysis prepared by Brian Collelo for Morningstar on Oct. 26,2011,when stock traded at $
12.73
Highlights
 After 34%revenuegrowth in 2010 due
to a bounce back in business conditions
from the credit crisis, we expect
Intersil's revenue to decline7%in 2011,
down from our prior projection of5%
growth, as global macroeconomic
uncertainty weighs on chip demand in
the back half ofthe year. We also
project average revenue growth of4%
from 2012 to 2015 as Intersil grows in
line with its end markets and the
analog chip industry. However, this
estimate is down from our prior
projection of6% averagegrowth, as we are less optimistic about Intersil's ability to see exceptional sales
growth from the PC end market.
 On the profitability front, we expectIntersil's 2011 operating margins to be in the high single digits,
down a few percentagepoints from our prior projections, as lowersales levels drag on Intersil's
earnings. Longer-term, we project Intersil's margins to hover in the low teens to midteens through our
five-year forecast period. Our fair value uncertainty rating for Intersil is high, given the cyclical nature
of the chip industry.
$ Billions FY10 FY09 FY08 MRQ
Total Revenue 0.8224 0.6114 0.7697 0.1868
% Change 34.51% -20.56% 1.67% -14.74%
SG&A 0.1375 0.1207 0.1243 0.0342
% of Sales 16.71% 19.74% 16.14% 18.38%
Op. Income 0.1299 0.0575 0.1215 0.0202
Op. Margin 15.79% 9.40% 15.78% 10.81%
0
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Stock Performance
Stock Price S&P 500 Source: Yahoo Finance

Investment Rationale/Risk
Intersil's greatest risk is the firm's exposureto the cyclical semiconductorindustry. Intersil's fortunes are also
tied to the PC market, as the company's power management chips are used in notebook computers. Intersil has
made several bolt-on acquisitions in recent years and may be unable to achievethe desired sales growth or
operating expensesynergies from these deals.

Key Developments: Performance
Source: Reuters Significant Developments (via Factiva-Dow Jones)
Intersil Corporation Issues Q4 2011 Guidance Below Analysts' Estimates
Reuters Significant Developments, 26 October 2011, 105 words, (English)
Intersil Corporationannouncedthat forthe fourthquarter of2011,it expects revenueis to be between $162 million
and $170 million, GAAP earnings per diluted share to be between $0.04 and $0.07 and Non-GAAP earningsper
diluted share (EPS) (excluding amortization of intangibles, one-time items and equity-based compensation) are
expected to be between $0.14 and $0.17. According to I/B/E/S Estimates, analysts were expecting the Company
to report revenue of $185 million and EPS of $0.18 for the fourth quarter of 2011.
Intersil Corporation Announces Quarterly Dividend
Reuters Significant Developments, 26 October 2011, 58 words, (English)
Intersil Corporation announced thatthe Board ofDirectors has authorized the paymentofa quarterly dividend of
$0.12 per share of common stock. The payment of this dividend will be made on November 25, 2011 to
shareholders of record as of the close of business on November 15, 2011.
Intersil Corporation Lowers Q3 2011 Revenue Guidance
Reuters Significant Developments, 12 September 2011, 66 words, (English)
Intersil Corporation announced that for the third quarter 2011, it expects revenue to range from $184 million to
$188 million, versus previousguidance of$205 million to $213million. According to I/B/E/SEstimates, analysts
on an average were expecting the Company to report revenues of $209 million for the third quarter of 2011.
Intersil Corporation Issues Mixed Q3 2011 Guidance; Declares Dividend
Reuters Significant Developments, 27 July 2011, 153 words, (English)
Intersil Corporation announced that for the third quarter of 2011, it expects revenue to be between $205-$213
million, GAAP earnings per diluted share (EPS) to be between $0.14-$0.17 and non-GAAP earnings per diluted
share (excluding amortization ofintangibles,one-timeitems and equity-basedcompensation) to be between $0.24
and $0.27. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report
revenues of $222 million and EPS of $0.21 for the third quarter of 2011. The Company also announce d that the
Board of Directors has authorized the payment of a quarterly dividend of $0.12 per share of common stock. The
payment ofthis dividend will be made on August 26, 2011 to shareholders ofrecord as ofthe close ofbusiness on
August 16, 2011.
T he Law Firm of Levi & Korsinsky, LLP Announces Investigation Of Intersil Corporation
Reuters Significant Developments, 12 July 2011, 183 words, (English)
Levi & Korsinsky, LLP announced that it is investigating Intersil Corporation and its Board of Directors, in
connection with the Company's 2008, 2009, and 2010 compensation for its CEO and other executives. If you
owned shares during this time period, you may be affected. At the Company's recent annual shareholder meeting
held May 4, 2011, shareholders voted “no” on Intersil's say on pay provision. The investigation concerns whether
certain senior officers and executives of Intersil were awarded salaries, bonuses, and/or other forms of
compensation that were excessiveor unwarranted based on the Intersil's performance.Specifically, Intersil's CEO
total compensation rose from $3.16 million in 2008 to $4.44 million in 2010, and the Senior Vice President and
CFO's pay rose from $427,000 in 2008 to $1.34 million in 2010. Executive pay was increased despi te the
Company's substantial Net Loss of$1.026billion in 2008 compared to a Net income of$140.48 million in 2007.

Competitive Landscape
Market Share Concentration
Source: IBISWorld
Concentration in this industry is medium
Industry concentration measures the extent to which
major players dominate an industry. The largest four
players are expected to account for about 45.0% of
industry revenue in 2011. Concentration is very high in
specific product segments.For example, Intel and AMD
dominate the market for microprocessors in the desktop
and mobile computing market. Texas Instruments has
stated that it holds 65% of the global Digital Signal
Processors market.
Industry concentration for the US semiconductor market is increasing because there is a tren d for larger
participants to acquiresmaller companies thathave fewerresources. However,USsemiconductorcompaniesare
producing more oftheir semiconductor products overseas, at in-house plants or foundries owned by others.
Nevertheless, there is a large number ofsmall firms in this industry. The latest Census data indicates that 57.4%
of firms in this industry have fewer than 20 employees, while these firms accounted for only 4.3% of industry
employment. There were 103 firms with more than 500 employees (11.9% of all firms) and these 103 firms
accounted for 81.9% of industry employment. While most industry players are small, specializing in a small
number ofproductlines to serve niche markets, majorplayersin the industry are expected to continueto expand
market share.
Key Success Factors
Source:IBISWorld
IBISWorld identifies 250 Key Success Factors for a business. The most important for this industry are:
Access to the latest available and most efficient technology and techniques: It is highly important
that industry players have access to technological developments, whether through R&D and/or the development
of strategic alliances.
Having links with suppliers: Companies in this industry need well-established relations with distributors,
suppliers, manufacturers and customers.
Access to highly skilled workforce: Firms in this industry need access to skilled staff, particularly for the
research and development of new technologies.
Business expertise of operators: Firms in this industry need to be driven by strategically focused
management teams that are able to identify and pursue successful opportunities.
Establishmentofexport markets: Firms will need to focus on export markets to increasecapacity utilization
and reduce reliance on the domestic market.
Having contacts within key markets: High-technology firms need to, have access to overseas supply
networks and to downstream manufacturers and consumers.
Economies of scale: Large-scale operations are generally more profitable and cheaper to run because they
allow for economies of scale to be achieved.
59.5%
32.0%
4.5%
4.0%
US Market Share: Semiconductor
& Circuit Manufacturing
Others
Intel
IBM
Micron
Source: IBISWorld

Ready access toinvestmentfunding: Semiconductor firms need to haveaccess to company funds orventure
capital to finance the development of new products and ideas as necessary.
Undertaking technicalresearch and development: The level ofexpenditureon research and development
within the firm is important for future product lines.
Willingness to outsource when appropriate: The utilization of foundries in high-production times is
essential to allow the firm to better focus on the design, development and marketing of products
Peer Comparison
Source: Factiva-Dow Jones
Company Name
Sales
($M)
Employees
Market
Cap($M)
Net
Income
($M)
Net Profit
Margin
TriQuint Semiconductor 87 8.7 2,777 863.45 190.84 21.72%
Cypress Semiconductor
Corporation
877.53 3,500 3,314.91 7 5.74 8.63%
Varian Semiconductor 831.78 1,462 4,844.73 159.58 19.19%
E Ink Holdings Inc. 828.66 6,412 2,260.08 132.56 15.54%
Intersil Corporation 822.40 1,762 1,466.43 26.39 3.21%
CSR plc 800.61 1,554 559.61 16.63 2.08%
MIMASU Semiconductor
IND. CO., LTD
774.49 998 294.27 13.32
1.72%
Magnachip Semiconductor
LLC
770.41 3,337 299.88 7 4.12 9.62%
Kulicke And Soffa
Industries Inc.
7 62.78 2,250 0.00 0.00 0.00%
Seoul SemiconductorCo.,
Ltd.
7 62.05 1,707 1,153.79 80.42 10.35%

Officers and Executives
Source: Board Ex, Factiva, Reuters
Gary E. Gist Mr. Gary E. Gist serves as IndependentChairman ofthe Board of
Intersil Corporation., since May 2005.Prior to this Mr. Gist served as
a Director since the Company's inception in August 1999.Mr. Gist has
served as vice president ofPalomarDisplay Products,a privately held
company that engages in the development and integration ofdisplays
and computer systems for demanding applications used in harsh
environments, since January 2009. He has also served as a member of
the Board of Directors ofPalomar Display Products sinceMay 2009.
From 1995 to 2008,Mr. Gist served as the President and Chief
ExecutiveOfficer ofPalomar Technological Companies. Mr. Gists's
qualifications to serve as a member ofthe Board ofDirectors include
his management experience as Director, ChiefExecutive Officer and
President ofa technology company providing products to the
semiconductor industry and his financial experience as a CPA with a
prominent public accounting firm.
Independent Chairman
Age: 64
Education
MBA, San Diego State University
(1969)
BA, Indiana University (1967)
Profile Links:
David B. Bell Mr. David B. Bell is President, ChiefExecutive Officer, Director of
Intersil Corporation., since February 13, 2008.Prior to this, Mr. Bell
served as President,ChiefOperating Officer, and Director ofthe
Company from April 2, 2007 to February 12,2008. Priorto joining the
Company, Mr. Bell was employed for 12 years with Linear Technology
Corporation (LTC), most recently,from June 2003 to January 2007,
as its President. Prior to becoming President ofLTC, from January
2002 to June 2003, Mr. Bell served as LTC's Vice Presidentand
General Manager ofPower Products and, from February 1999 to
January 2002, as LTC's General Manager ofPower Products.From
June 1994 to January 1999, he held the position ofLTC's Manager of
Strategic Product Development. Mr. Bell has served on the Board of
Directors ofthe SemiconductorIndustry Association since March
2008. Mr. Bell's qualifications to serve as a member of the Board of
Directors include his more than 30 years ofmanagement experience
at analog companies in positions including ChiefExecutive Officer,
President, ChiefOperating Officer and Research and Development
Manager.
President,Chief Executive
Officer,Director
Age: 54
Salary (US $): 594,231
Education
BSEE, Massachusetts Instituteof
Technology(1977 )
Profile Links:
Jonathan A. Kennedy Mr. Jonathan A. Kennedy is ChiefFinancial Officer, Senior Vice
President ofIntersil Corporation., since April 18, 2009. From
December 3, 2008 to April 17, 2009he was Intersil's Interim Chief
Financial Officer. From April 2005 to December2, 2008, he was
Intersil's CorporateController. From June 2004 to April 2005, he was
Intersil's DirectorofFinance. From July 2000 to June 2004, Mr.
Kennedy served as Director ofFinance and Information Technology
for Alcon, Inc. Priorto this he held various finance and information
technology positions at Autonomous Technologies and Harris
Corporation.
Chief Financial Officer,Senior
Vice President
Age: 41
Salary (US $): 317,692
Education
MS, University ofCentral Florida
BS, University ofCentral Florida

Thomas C. Tokos Mr. Thomas C. Tokos is Senior Vice President, General Counsel,
Secretary ofIntersil Corporation., since September 13, 2008.From
May 27 , 2003to September12, 2008, he served as Intersil's Vice
President, General Counsel and Secretary. Previously,Mr. Tokos
served as general counsel to semiconductor and technology companies
and as an attorney with private law firms.
Senior Vice President,General
Counsel,Secretary
Age: 59
Salary (US $): 285,438
Education
JD(Hons), Georgetown Univeristy
MS, Ohio University
BS, Ohio University(1973)
David M. Loftus Mr. David M. Loftus is Senior Vice President - Worldwide Sales and
CorporateMarketing ofIntersil Corporation.,since September 10,
2008. From May 1991 to July 2008, Mr. Loftus held various positions
at Xilinx, Inc., most recently holding the position ofVice
President/General Manager,General Products Division from May
2007 to July 2008. Prior to this he was their General Manager,CPLD
Division from August 2005 to May 2007 and their Vice
President/Managing Director, Asia Pacific from May 2002 to August
2005. Prior to his tenureat Xilinx, Mr. Loftus was a Research
Engineer at Georgia Tech Research Institute from January 1983 to
May 1991.
Vice President - Worldwide Sales
and Corporate Marketing
Age: 49
Salary (US $): 358,462
Education
Masters Degree, Georgia Instituteof
Technology
Bachelor's Degree, Georgia Instituteof
Technology
Vern Kelley Mr. Vern Kelley is Senior Vice President - Human Resources of
Intersil Corporation., since September 13, 2008. From February 24,
2003 to September 12,2008, he served as Intersil's VicePresident,
Human Resources. Priorto this, Mr. Kelley spent 19 years at National
Semiconductor, most recently holding the position ofVice President,
Human Resources for their product divisions. In his role, he also
oversaw HR activitiesassociated with National's acquisition,
divestiture, and joint ventureactivities which included joint ventures
and acquisitions in China and Europe. Before joining National in
1983, Mr. Kelley was a division employee relations manager for
Allstate InsuranceCompany.
Senior Vice President - Hum an
Resources
Age: 58
Education
MS, Golden Gate University
BS, University ofthe Pacific

Andrew Cowell Mr. Andrew Cowell has been appointed as the Senior Vice President of
the Consumer Products Group ofIntersil Corp. Mr. Cowell brings to
Intersil global experience in power management solutions for the
consumermarket.Most recently, Andrew spent the last four years as
Vice President ofAnalog Marketing at Micrel Semiconductor.
Previous to this position, Andrew held a variety oftechnical,
marketing and applications management roles at Micrel and Siliconix.
Andrew began his careeras a design engineer at Advanced Power
Supplies. Mr. Cowell holds a First Class Honors degree in Electronics
from Middlesex University in the UK.
Senior Vice President of the
Consum er Products Group
Age: 45
Education
Degree(Hons), Middlesex University
Susan J. Hardman Ms. Susan J. Hardman is Senior Vice President - Analog and Mixed
Signal Products GroupofIntersil Corporation., since September 13,
2008. From October 19, 2007 to September12,2008, she served as
Vice President and General Manager,Analog and Mixed Signal
Products Group. From March 18, 2006 to September12,2008, she
served as Intersil's Vice Presidentand General Manager, Automotive
and Specialty Products Group. From September7, 2004 to March 17,
2006 she servedas Intersil's Vice President, CorporateMarketing.Ms.
Hardman joined Intersil from Exar Corporation, whereshe was Vice
President and General Manager ofthe company's Interface products
division. Prior to that, she servedas Vice President ofCorporate
Marketing and Director ofProduct Marketing for Exar.Prior to Exar,
Ms. Hardman worked for VLSI Technology for eight years and held a
variety ofmanagement positions. Ms. Hardman began her career with
Motorola,where she worked for six years in a variety ofengineering
roles.
Senior Vice President - Analog
and Mixed Signal Products
Group
Age: 49
Salary (US $): 320,031
Education
MBA, University ofPhoenix
BS, Purdue University(1983)
Peter R. Oaklander Mr. Peter R. Oaklander is Senior Vice President - Power Management
Products Group ofIntersil Corporation., since September 13, 2008.
From March 27, 2006 to September 12, 2008,he servedas Intersil's
Senior Vice President, WorldwideSales. Prior to this, Mr. Oaklander
spent 20 years at Analog Devices, where he held the position ofVice
President and General Manager ofPower Management products in
the Analog Semiconductordivision. Priorto that, his positions at
Analog Devices included Vice Presidentand General Manager of
Analog Devices'Silicon Valley Operations, Managing Director ofthe
Asia Pacific region,Director ofConsumerSales and Analog
Semiconductor Components division Field Marketing in Japan, as
well as other positions with increasing responsibility.
Senior Vice President - Power
Managem ent Products Group
Age: 47
Salary (US $): 355,000
Education
MBA, Hong Kong University of Science
and Technology (HKUST)
MBA, Keller Graduate School of
Management
BS, RochesterInstituteofTechnology

Sagar Pushpala Mr. Sagar Pushpala is Senior Vice President - Worldwide Operations
and Technology ofIntersil Corporation., sinceSeptember 13, 2008.
From December 3, 2004 to September 12, 2008, he served as Intersil's
Vice President, Worldwide Operations. Prior to joining Intersil, he
served as the Director ofWafer Fab Operations at Maxim Integrated
Products from 1999to 2004 where he held positionsin their six -inch
and eight-inch wafer fabrication lines. Priorto Maxim, Mr. Pushpala
served as the Director ofProcess Technology Development at National
Semiconductor where he was responsible for module developmentin
their eight-inch R&D wafer fab. He was instrumental in the
qualification of the first eight-inch fabs at both National
Semiconductor and Maxim Integrated Products. Over his 20+ year
career,Mr. Pushpala has held various seniorengineering management
positions at Maxim Integrated Products, National Semiconductor,
Saratoga Semiconductor and Advanced Micro Devices.In addition,
Mr. Pushpala serves on the Board ofDirectors ofa privately-held
company and serves as an advisorfor a non-profit organization
Senior Vice President -
Worldwide Operations and
Technology
Age: 53
Salary (US $): 338,654
Education
MS, University ofKansas (1984)
BTech, Indian InstituteofTechnology
(IIT) Madras(1981)
Robert W. Conn Dr. Robert W. Conn serves as Independent DirectorofIntersil
Corporation., sinceApril 2000. Dr. Conn was appointed President
and directorofthe Kavli Foundation,a philanthropic organization, in
April 2009. Dr. Conn has been President ofConn Engineering &
Consulting, Inc. since 2002. In addition, he has been a Professor,
Emeritus, at the University ofCalifornia, San Diego since 2004. From
2002 to 2008, Dr. Conn was Managing Director ofEnterprise
Partners VentureCapital. From 1994to July 2002, Dr. Conn was the
Dean of the Jacobs School ofEngineering, University ofCalifornia,
San Diego, and the Walter J. Zable Endowed Chair in Engineering. Dr.
Conn served on the Board ofDirectors ofChipPAC, Inc. from 2002
through 2004, and on the Board ofDirectors ofSTATS ChipPAC, Inc.
from 2004 through 2007.Presently, he is a member of the National
Academy ofEngineering and also serves on the Board ofDirectors of
several privately-held companies.
Independent Director
Age: 68
Education
PhD, California InstituteofTechnology
(1968)
MS, Pratt Institute(1965)
BS, Pratt Institute(1964)
James V. Diller,Sr., Mr. James V. Diller, Sr., serves as Independent Director ofIntersil
Corporation., sinceMay 2002.Mr. Diller is a retired Chairman ofthe
Board of Elantec Semiconductor,Inc., a post he held from 1997 to May
2002. Mr. Diller served as a director ofElantec Semiconductor, Inc.
beginning in 1986. From November1998 to July 2000, he served as
Elantec's President and ChiefExecutive Officer. Mr. Diller is a founder
of PMC-Sierra, Inc. and was its President and ChiefExecutiveOfficer
from 1983 to 1997;he is currently Vice Chairman ofthe Board of
Directors. Mr. Diller was a director ofSierra Wireless,Inc., a provider
of wireless data communications hardwareand softwareproducts
from 1993 through 2003. In addition,Mr. Diller also serves on the
Board of Directors ofseveral privately-held companies.
Age: 7 6
Education
BS, University ofRhode Island(1973)

Mercedes Johnson Ms. Mercedes Johnson serves as Independent DirectorofIntersil
Corporation., sinceAugust 2005. Ms. Johnson has served as Vice
President, Financeand ChiefFinancial Officer of Tri Alpha Energy, a
privately held company engaged in plasma fusion technology, since
January 2010. She was previously the Senior VicePresident of
Finance and Chief Financial Officer at Avago Technologies from
November 2005 to August 2008. Prior to her employment with Avago,
Ms. Johnson worked for Lam Research Corporation, serving as its
Senior Vice President ofFinance fromJune 2004 to January 2005,
and as its Chief Financial Officer from April 1997 to May 2004.Ms.
Johnson has served on Micron Technology, Inc.'s Board ofDirectors
since June 2005. She also served on the Board ofDirectors for Storage
Technology Corporation from January 2004 to August 2005. Ms.
Johnson's qualifications to serve as a member ofthe Board of
Directors include her experienceas a senior financial executiveat
semiconductor and semiconductorequipment companies,and as a
board memberofa publicly-traded semiconductor company.
Age: 57
Education
MA, University ofBuenos Aires (1976)
Gregory S. Lang Mr. Gregory S. Lang serves as Independent Director ofIntersil
Corporation., sinceFebruary 2006. Mr. Lang has served as President,
Chief Executive Officer and DirectorofPMC-Sierra, Inc., a company
that engages in the design, development, marketing, and support of
communications semiconductors, storage semiconductors, and
microprocessors, sinceMay 2008. In March 2008, Mr. Lang resigned
his position as President, ChiefExecutiveOfficer and Director of
Integrated Device Technology Inc. ('IDT'). Mr. Lang joined IDT as
President in October 2001, was appointed ChiefExecutiveOfficer in
January 2003 and elected to the IDTBoard ofDirectors in September
2003. Priorto joining IDT, Mr. Lang held the position ofVice
President and General Manager ofIntel's platform networking group.
Previously he managedIntel's Ethernet, storageI/Oprocessing,home
networking and broadband businesses. Mr. Lang's qualifications to
serve as a member ofthe Board ofDirectors includehis 23 years of
experience in the semiconductor industry in positions including Chief
ExecutiveOfficer, President and VicePresident and General Manager.
Age: 48
Education
MBA, Washington State University
(1991)
BBA, University ofMichigan, Business
School (1986)
Jan E. Peeters Mr. Jan E. Peeters serves as Independent Director ofIntersil
Corporation., sinceApril 2000. Mr. Peeters is Chairman and Chief
ExecutiveOfficer ofOlameter Inc., a meter asset and data
management company, which he formed in 1998.He presently serves,
since 1998, as Chairman ofCogeco Inc. and Cogeco Cable Inc.,
publicly-traded Canadian companies in the areas ofbroadcasting and
cable. He also serves as Chairman, since 1999, on the Board ofiNovia
Capital, a venture capital company.In addition, Mr. Peeters serves as
Chairman, since 2009, on the Board ofGGFI, a small-cap financing
company. Mr. Peeters servedas GovernorofMcGill University from
1999 to 2009. He also served on the Board ofDirectors ofCall-Net, a
publicly-traded Canadian telecommunications company,from 1999 to
2002. He was previously founder, vice-chairman, president and CEO
of Fonorola Inc., a facilities-based long-distance telephone company
from 1988 to 1998, at which time it was acquired by Call-Net
Enterprises Inc. Mr. Peeters'qualificationsto serveas a member of
the Board of Directors include his senior executiveexperience at
public and private companies in positions such as Chairman, Director
and Chief Executive Officer.
Age: 59
Education
CMA, McGill University (Canada)
(1984)
BS, McGill University (Canada) (1973)

Robert N. Pokelwaldt Mr. Robert N. Pokelwaldt serves as IndependentDirector ofIntersil
Corporation., since April 2000. Mr. Pokelwaldt was previously
Chairman and Chief Executive Officer ofY ORK International
Corporation, a manufacturer ofair conditioning and cooling systems
from January 1993 until his retirement in October 1999. While at
Y ORK International Corporation, he also served as President, Chief
ExecutiveOfficer and Director from June 1991 to January 1993and
was President and ChiefOperating Officer from January 1990 to June
1991.Mr. Pokelwaldt retired from the Board ofDirectors ofCarpenter
Tech in May 2004 and presently serves on the Board ofDirectors of
Mohawk Industries,Inc.Mr. Pokelwaldt?s qualifications to serve as a
member ofthe Board ofDirectors include his seniorexecutive
experience at public and private companies in positions such as
Chairman, Director and ChiefExecutive Officer.
Age: 7 4
Education
BS, State University ofNew Y ork,
Buffalo (SUNY B) (1960)
James A. Urry Mr. James A. Urry serves as IndependentDirector ofIntersil
Corporation., sinceAugust 1999.Mr. Urry is a Partner at Court Square
Capital Partners, a private equity firm. Mr. Urry is also Director of
Lyris, Inc., a marketing technology company thatprovides hosted and
installed softwaresolutions. He also served as a Director ofAMI
Semiconductor priorto the merger ofAMI and ON Semiconductor on
March 12, 2008. Previously, Mr. Urry was a Partner at Citigroup
Venture Capital Ltd. from 1989 to 2006. Mr. Urry?s qualifications to
serve as a member ofthe Board ofDirectors includehis experience as
a senior executive at private equity firms, and as a Director at a public
semiconductor firm.
Age: 57
Education
AB, Brown University (1975)
MBA, Wharton School, University of
Pennsylvania

Recent Headlines
Source: Factiva
Intersil Corporation Reports 3Q Results
Wireless News, 31 October 2011, 608 words, (English)
Intersil Corporation, a providerofdesign and manufacture ofhigh-performanceanalog and mixed-signal
semiconductors, reported financial results for its third quarter ended Sept. 30.
Intersil Techwell Introduces Video Decoder
Wireless News, 3 November2011, 199words, (English)
Intersil Corporation introduces the TW2960 4-channel 960Hvideo decoder. In a release dated Oct. 30, Weiqi
Wu, Executive VicePresident ofHikvision said, "Intersil Techwell continues to lead in video technology
innovation and remains the unquestioned gold standard in the surveillance industry.
Intersil Rolls Out New2.5A Buck Regulator
Entertainment Close-Up,28 October2011,261 words, (English)
Intersil Corp. announced it has released a new 2.5A step-down regulator that automatically boosts the input
voltageto maintain regulation.The Company reported that loss ofregulation due to drooping input voltage is a
common problem in automotive applications.
Intersil Unveils Dual Synchronous DC/DCRegulator
Entertainment Close-Up,28 October2011,220 words,(English)
Intersil Corp. announced thatit has introducedan AEC-Q100-qualified dual synchronous step-down DC/DC
regulatorfeaturing a 2.25MHz switching frequency to minimizesolution size.
Intersil Updates on Automotive LowLight AmbientLight Sensor for AEC-Q100 Grade 2
Applications
Entertainment Close-Up,28 October2011,193words, (English)
Intersil Corp. announced the launch ofits automotive qualified ambient light sensor that can measureincident
light levels down to 0.01 lux with near human eye spectral response.

Financials
Annual Balance Sheet
Source: ThomsonOne
12/31/2010
USD
01/01/2010
USD
restated
01/02/2009
USD
12/28/2007
USD
12/29/2006
USD
Assets
Cash & ST Investments 383.0 361.2 312.6 483.8 624.0
Cash 383.0 - 215.6 323.4 158.9
Short Term Investments - - 97.0 160.4 465.1
Receivables (Net) 92.3 - 66.6 117.4 98.0
Inventories - Total 102.0 - 109.6 97.7 92.4
Raw Materials 5.3 - 4.0 4.0 4.1
Work In Process 57.9 - 35.0 64.3 61.1
Finished Goods 38.8 - 70.7 29.4 27.3
Progress Payments & Other 0.0 - 0.0 0.0 0.0
Prepaid Expenses - - - - -
Other Current Assets 36.3 191.6 45.0 49.6 35.1
Current Assets - Total 613.6 552.8 533.8 748.5 849.6
Long Term Receivables 0.0 - 0.0 0.0 0.0
InvestmentIn Unconsolidated
Subsidiaries
0.0 - 0.0 0.0 0.0
Other Investments 69.3 - 81.3 19.1 78.6
Property Plant& Equipment - Net 103.5 102.3 112.8 109.6 101.1
Property Plant & Equipment -
Gross
311.0 - 286.7 277.1 251.3
Land 1.7 - 1.8 1.8 1.6
Buildings 57.0 - 51.2 49.1 47.7
Construction Work In
Progress
- - - - -
Machinery & Equipment 252.3 - 233.8 226.3 202.0
Rental/Lease Property - - - - -
Transportation Equipment - - - - -
PP&E - Other - - - - -
PP&E Under Capitalized
Leases
- - - - -
(Less) Accumulated
Depreciation
207.5 - 173.9 167.5 150.1
Accum Depr-Land - - - - -
Accum Depr-Buildings - - - - -
Accum Depr-Machinery&
Equip.
- - - - -
Accum Depr-Rental/Lease
Property
- - - - -
Accum Depr-Transport
Equip.
- - - - -
Accum Depr-PP&E Other - - - - -

12/31/2010
USD
01/01/2010
USD
restated
01/02/2009
USD
12/28/2007
USD
12/29/2006
USD
Accum Depr-PP&E Under
Cap Leases
- - - - -
Other Assets 792.2 419.7 358.6 1,490.3 1,462.7
Deferred Charges - - - - -
Tangible Other Assets 88.1 - 15.9 14.6 13.1
Intangible Other Assets 704.1 341.3 342.8 1,475.7 1,449.6
Total Assets 1,578.6 1,074.8 1,086.6 2,367.5 2,492.1
Liabilities
Accounts Payable 40.7 - 22.3 40.2 24.2
ST Debt& CurrentPortion of LT
Debt
23.5 0.0 0.0 0.0 0.0
Accrued Payroll 42.8 - 30.5 39.5 33.4
Income Taxes Payable 5.3 - 4.0 19.3 44.8
Dividends Payable 0.0 - 0.0 0.0 0.0
Other Current Liabilities 38.0 - 51.2 26.4 35.1
Current Liabilities - Total 150.3 134.7 108.0 125.4 137.6
Long Term Debt 275.0 0.0 0.0 0.0 0.0
LT DebtExcl Capital Leases 275.0 0.0 0.0 0.0 0.0
Non-Convertible Debt 275.0 - 0.0 0.0 0.0
Convertible Debt 0.0 - 0.0 0.0 0.0
Capitalized Lease Obligations 0.0 0.0 0.0 0.0 0.0
Provision for Risks & Charges - - - 40.7 -
Deferred Income 0.0 - 0.0 0.0 0.0
Deferred Taxes (93.9) (91.0) (47.0) (37.5) (67.1)
Deferred Taxes - Credit 7.1 - 17.7 9.3 -
Deferred Taxes - Debit 101.0 91.0 64.7 46.8 -
Deferred Tax Liability In Untaxed
Reserves
- - - - -
Other Liabilities 203.0 0.0 0.0 0.0 0.0
Total Liabilities 534.4 43.7 61.0 128.7 70.5
Shareholders' Equity
Non-Equity Reserves 0.0 - 0.0 0.0 0.0
Minority Interest 0.0 0.0 0.0 0.0 0.0
Preferred Stock 0.0 0.0 0.0 0.0 0.0
Preferred Stock - Non
Redeemable
0.0 - 0.0 0.0 0.0
Preferred Stock - Redeemable 0.0 - 0.0 0.0 0.0
Common Equity 1,044.2 1,031.1 1,025.6 2,238.9 2,421.5
Common Stock 1.2 - 1.2 1.3 1.4
Capital Surplus 1,741.8 - 1,797.1 1,906.2 2,171.6
Revaluation Reserves 0.0 - 0.0 0.0 0.0
Other Appropriated Reserves 0.5 - (8.4) (2.1) 1.3
Unappropriated (Free)
Reserves
0.0 - 0.0 0.0 0.0
Retained Earnings (699.3) - (764.3) 333.5 247.2
Equity In Untaxed Reserves - - - - -
ESOP Guarantees 0.0 - 0.0 0.0 0.0
Unrealized Foreign Exchange
Gain(Loss)
- - - - -

12/31/2010
USD
01/01/2010
USD
restated
01/02/2009
USD
12/28/2007
USD
12/29/2006
USD
Unrealized Gain(Loss) on
Marketable Securities
- - - - -
(Less) TreasuryStock 0.0 - 0.0 0.0 0.0
Total Shareholders’ Equity 1,044.2 1,031.1 1,025.6 2,238.9 2,421.5
Total Liabilities &
Shareholder’s Equity
1,578.6 1,074.8 1,086.6 2,367.5 2,492.1
Common Shares Outstanding 124.6 - 121.6 127.0 135.9

Annual Income Statement
Source: ThomsonOne
12/31/2010
USD
01/01/2010
USD
restated
01/02/2009
USD
12/28/2007
USD
12/29/2006
USD
Income Statement
Net Sales or Revenues 822.4 611.4 769.7 757.0 740.6
Operating Expenses - Total 691.4 - 646.7 602.4 588.8
Costof Goods Sold 323.0 255.7 347.7 304.9 293.3
Selling,General & Admin
Expenses
319.7 - 264.3 266.3 263.6
Depreciation,Depletion &
Amortization
48.7 33.5 34.8 31.2 31.9
Depreciation 21.1 - 22.6 20.4 22.4
Amortization of Intangibles 27.7 - 12.2 10.7 9.5
Amortization of Deferred
Charges
- - - - -
Other Operating Expenses 0.0 - 0.0 0.0 0.0
Operating Income 131.0 54.5 123.0 154.6 151.8
Extraordinary Credit - Pretax 0.0 - 0.0 0.0 0.0
Extraordinary Charge - Pretax 10.3 - 1,166.4 2.7 0.0
Non-Operating Interest
Income
3.1 - 14.7 30.9 29.7
InterestExpense On Debt 12.9 0.6 - 0.0 0.0
Pretax Equity In Earnings 0.0 0.0 0.0 0.0 0.0
Reserves- Increase(Decrease) 0.0 - 0.0 0.0 0.0
Other Income/Expense - Net 0.9 (7.7) (39.0) 0.9 (1.4)
InterestCapitalized 0.0 - 0.0 0.0 0.0
Pretax Income 111.8 46.2 (1,067.8) 183.7 180.2
Income Taxes 85.4 7.6 (5.3) 41.0 28.8
Current Domestic Income
Tax
78.7 - (14.2) 38.6 26.7
Current Foreign Income Tax 4.0 - 8.0 10.9 8.0
Deferred Domestic Income
Tax
2.7 - 0.9 (8.5) (5.8)
Deferred Foreign Income
Tax
0.0 - 0.0 0.0 0.0
Income Tax Credits 0.0 - 0.0 0.0 0.0
Minority Interest 0.0 0.0 0.0 0.0 0.0
Equity In Earnings 0.0 0.0 0.0 0.0 0.0
After Tax Other
Income/Expense
0.0 - 0.0 0.0 0.0
Discontinued Operations 0.0 0.0 24.9 0.0 -
Net Income Before Extra
Items/Preferred Div
26.4 38.6 (1,037.6) 142.7 151.3
Extr Items & Gain(Loss) Sale
of Assets
0.0 0.0 0.0 (2.3) 0.5
Net Income Before Preferred
Dividends
26.4 38.6 (1,037.6) 140.5 151.9
Preferred Dividend Require 0.0 0.0 0.0 0.0 0.0

12/31/2010
USD
01/01/2010
USD
restated
01/02/2009
USD
12/28/2007
USD
12/29/2006
USD
Net Income to Common
Shareholders
26.4 38.6 (1,037.6) 142.7 151.3
EPS Incl Extraordinary Items 0.2 - (8.4) 1.1 1.1
EPS - Continuing Operations 0.2 - (8.6) 1.1 1.1
Dividend Per Share 0.5 0.5 0.5 0.4 0.3
Common Shares Used to Calc
Diluted EPS
124,597,000.0 122,300,000.0 123,700,000.0 134,008,000.0 142,415,000.0

Annual Cash Flow Statement
Source: ThomsonOne
12/31/2010
USD
01/01/2010
USD
restated
01/02/2009
USD
12/28/2007
USD
12/29/2006
USD
Operations
Net Income / Starting Line 26.4 - (1,062.5) 142.7 151.3
Depreciation,Depletion &
Amortization
48.7 - 34.8 31.2 31.9
Depreciation & Depletion 21.1 - 22.6 20.4 22.4
Amortization of Intangible
Assets
27.7 - 12.2 10.7 9.5
Deferred Income Taxes &
InvestmentTax Credit
(45.7) (33.4) (3.1) 3.4 7.7
Deferred Income Taxes (45.7) (33.4) (3.1) 3.4 7.7
InvestmentTax Credits 0.0 0.0 0.0 0.0 0.0
Other Cash
Flow
34.6 - 1,278.9 61.4 78.5
Funds From Operations 64.0 93.6 248.1 238.7 269.4
Extraordinary
Items
0.0 - 0.0 0.0 0.0
Funds From/For Other
Operating Activities
78.9 35.7 (44.2) (6.3) (33.5)
Dec(Inc) In Receivables (14.2) - 51.1 (18.7) 1.7
Dec(Inc) In Inventories (10.1) - (35.8) (9.6) (10.5)
Inc(Dec) In Accounts Payable 2.9 - (3.4) 4.0 (3.2)
Inc(Dec) In Income Taxes
Payable
131.9 - (55.9) 15.1 (22.8)
Inc(Dec) In Other Accruals - - - - -
Dec(Inc) In Other
Assets/Liabilities
(31.6) - (0.2) 2.8 1.3
Net Cash Flow - Operating
Activities
143.0 129.2 203.9 232.4 236.0
Investing
Capital Expenditures (Addition
to Fixed Assets)
(20.8) (11.1) (31.9) (24.1) (31.1)
Additions To Other Assets (0.0) (0.0) (0.0) (0.0) (0.0)
Net Assets From Acquisitions (405.4) (18.2) (48.0) (48.0) (2.7)
Increase In Investments (10.8) (14.1) (82.5) (571.4) (793.8)
Decrease In Investments 95.5 100.0 41.2 933.6 824.4
Disposal ofFixed Assets 0.3 0.0 0.1 5.9 1.4
Other Use/(Source) - Investing 0.0 0.0 0.0 0.0 0.0
Other Uses - Investing (0.0) (0.0) (0.0) (0.0) (0.0)
Other Sources - Investing 0.0 0.0 0.0 0.0 0.0
Net Cash Flow - Investing (341.2) 56.6 (121.0) 296.0 (1.8)
Financing
Net Proceeds From Sale/Issue
of Com & Pref
6.5 5.4 22.2 115.7 100.4
Proceeds From Stock
Options
6.5 5.4 22.2 115.7 100.4
Other Proceeds From
Sale/Issuance ofStock
0.0 0.0 0.0 0.0 0.0

12/31/2010
USD
01/01/2010
USD
restated
01/02/2009
USD
12/28/2007
USD
12/29/2006
USD
Com/Pfd
Purchased
(0.0) (0.0) (155.0) (435.0) (295.0)
Long Term Borrowings 289.2 0.0 0.0 0.0 0.0
Reduction In Long Term Debt (1.5) (0.0) (0.0) (0.0) (0.0)
Inc(Dec) In Short Term
Borrowings
0.0 0.0 0.0 0.0 0.0
Cash Dividends Paid - Total (60.1) (59.1) (59.8) (53.4) (29.4)
Common Dividends (Cash) 60.1 - 59.8 53.4 29.4
Preferred Dividends (Cash) 0.0 - 0.0 0.0 0.0
Other Source (Use) - Financing (1.0) 0.4 0.9 7.8 9.8
Other Sources - Financing 0.1 0.4 0.9 7.8 9.8
Other Uses - Financing (1.1) (0.0) (0.0) (0.0) (0.0)
Net Cash Flow - Financing 233.1 (53.3) (191.7) (364.9) (214.3)
Effect of Exchange Rate On
Cash
0.5 (0.5) 1.1 1.0 1.3
Inc(Dec) In Cash & Short
Term Investments
35.3 132.0 (107.8) 164.5 21.2

Ratios
Source: ThomsonOne
12/31/2010 01/01/2010
restated
01/02/2009 12/28/2007 12/29/2006
Profitability Ratios
Return on Equity - Total 2.5 - (63.6) 6.0 6.3
Return on Equity - Per Share - - (65.8) 6.2 6.2
ReinvestmentRate - Total (3.3) (2.0) (67.2) 3.7 5.0
ReinvestmentRate - Per Share - (1.9) (69.5) 3.8 4.7
Return On Assets 2.6 - (60.1) 5.8 6.1
Return On Invested Capital - - (63.6) 6.0 6.3
Retained Earnings % Equity (67.0) - (74.5) 14.9 10.2
Cash Earnings Return on Equity 6.2 - 15.2 10.2 11.1
Cash Flow/Sales 7.8 11.8 32.2 31.5 36.4
Operating Profit Margin 15.9 8.9 16.0 20.4 20.5
Operating Income on Total
Capital
- - 7.5 6.6 6.3
Pretax Margin 13.6 7.6 (138.7) 24.3 24.3
Tax Rate 76.4 16.5 (63.6) 22.3 16.0
InterestRate - Estimated
Average
4.3 - (63.6) - -
Net Margin 3.2 6.3 (134.8) 18.6 20.5
Sales Per Employee 0.5 - 0.5 0.5 0.5
Accounts Payable % Sales 4.9 - 2.9 5.3 3.3
Costof Goods Sold To Sales 39.3 41.8 45.2 40.3 39.6
Gross Profit Margin 54.8 52.7 50.3 55.6 56.1
Selling,General & Admin
Exp/Sales
16.6 - 15.7 17.4 18.5
Research & Development
Exp/Sales
22.3 - 18.7 17.8 17.1
Asset Utilization Ratios
Assets Per Employee 0.9 - 0.7 1.6 1.8
Total Assets Turnover 0.5 0.6 0.7 0.3 0.3
Inventory Turnover - - 3.4 3.2 3.3
Net Sales to Gross Fixed Asset 2.6 - 2.7 2.7 2.9
Net Sales % Working Capital 1.8 - 1.8 1.2 1.0
Capital Expenditure % Gross
Fixed Assets
- - 11.5 9.6 13.3
Capital Expenditure % Total
Assets
1.9 - 1.3 1.0 1.2
Capital Expenditure % Sales 2.5 - 4.1 3.2 4.2
Accumulated Depreciation %
Gross Fixed Assets
66.7 - 60.6 60.4 59.8
Leverage Ratios
Total Debt % Common Equity 28.6 0.0 0.0 0.0 0.0
Long Term Debt % Common
Equity
26.3 0.0 0.0 0.0 0.0
Minority Interest % Total Capital 0.0 - 0.0 0.0 0.0
Total Debt % Total Capital 22.2 - 0.0 0.0 0.0

12/31/2010 01/01/2010
restated
01/02/2009 12/28/2007 12/29/2006
LT Debt % Total Capital 20.8 - 0.0 0.0 0.0
Equity % Total Capital 79.2 - 100.0 100.0 100.0
Preferred Stock % Total Capital 0.0 - 0.0 0.0 0.0
Total Debt % Total Assets 18.9 0.0 0.0 0.0 0.0
Common Equity% Total Assets 66.1 95.9 94.4 94.6 97.2
Total Capital % Assets 83.6 - 94.4 94.6 97.2
Fixed Charge Coverage Ratio 9.7 78.0 - - -
Dividend Payout (% Earnings) -
Total Dollar
- - - 38.0 19.4
Cash Dividend & Cash Flow 93.9 - 24.1 22.4 10.9
Operating Cash/Fixed Charges 5.0 120.2 - - -
Fixed Assets % Common Equity 9.9 9.9 11.0 4.9 4.2
Working Capital % Total Capital 35.1 - 41.5 27.8 29.4
Liquidity Ratios
Quick Ratio 3.2 - 3.5 4.8 5.2
CurrentRatio 4.1 4.1 4.9 6.0 6.2
Cash & Equivalents % Current
Assets
62.4 65.3 58.6 64.6 73.4
Receivables % Total Current
Assets
15.0 - 12.5 15.7 11.5
Inventories % Total Current
Assets
16.6 - 20.5 13.0 10.9
Accounts Receivable Days - - 43.6 51.9 48.8
Inventories - Days Held - - 108.8 113.8 111.4

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