Intersil Corporation announced that at Annual Meeting of Shareholders on May 8, 2013, the shareholders approved the election of Donald Macleod and Dr. Necip Sayiner as directors.

Intersil Corporation announced the appointment of Mark Downing as Senior Vice President, Strategy and Business Development. Mr. Downing will be responsible for establishing a strategic framework for Intersil's future investments, and setting strategic product direction, in collaboration with the company's leadership team. Prior to joining Intersil, Mr. Downing was Senior Vice President, Broad Based Products, and earlier, Vice President of Strategy and Business Development at Silicon Labs. Earlier in his career, he was Chief Executive Officer of privately-held Enpirion; Vice President of Marketing for Micrel; and Vice President of Marketing at Pericom Semiconductor.

Intersil Corporation reported unaudited consolidated earnings results for the first quarter ended March 29, 2013. For the quarter, the company reported revenue of $131.7 million compared with $156.0 million a year ago. Operating loss was $20.1 million compared with $2.2 million a year ago. Loss before income taxes was $20.3 million compared with $3.3 million a year ago. Net income was $2.5 million or $0.02 per basic and diluted share compared with net loss of $3.3 million or $0.03 per basic and diluted share a year ago. Net cash flows from operating activities were $16.2 million compared with $21.9 million a year ago. Net capital expenditures were $5.3 million compared with $1.5 million a year ago. LBITDA was $2.6 million against EBITDA of $15.2 million a year ago. Free cash flow was $10.9 million against $20.4 million a year ago. Non-GAAP operating income was $9.1 million compared to $12.7 million for the same period a year ago. Non-GAAP net income was $7.2 million or $0.06 per diluted share compared to $8.2 million or $0.06 per diluted share for the same period a year ago. The company provided earnings guidance for the second quarter of 2013. The company expects revenue between $135 million and $142 million. GAAP loss per share is expected to be between $0.03 and $0.02 and non-GAAP earnings per share are expected to be between $0.07 and $0.10. The company’s gross margin will be flat to up 50 basis points. The tax rate that the company’s expects on a GAAP basis is 90%, and therefore, it excludes discrete items, which can add a little bit more to the tax provision on a given quarter. On non-GAAP measures, then the number obviously gets smaller than 90% in terms of the rate.