Intersil Corporation

Non-GAAP Results

Unaudited

(In thousands, except per share amounts)

Quarter Ended

Apr. 1,

Jan. 1,

Apr. 3, 

2016

2016

2015

Q1 2016

Q4 2015

Q1 2015

Non-GAAP net income:

GAAP net income (loss)

$ 11,751

$ 21,302

$(68,824)

  Equity-based compensation

6,482

5,148

5,756

  Amortization of purchased intangibles

3,528

4,261

5,561

  Provision for TAOS litigation

-

-

81,100

  Acquisition-related costs

585

-

-

  Gain on recovery from auction rate securities

(28)

(150)

(588)

  Tax impact of Non-GAAP adjustments

(1,117)

(2,668)

(71)

Non-GAAP net income

$ 21,201

$ 27,893

$  22,934

GAAP weighted average shares - diluted

135,267

134,288

130,513

  Non-GAAP adjustment

3,680

4,314

6,798

Non-GAAP weighted average shares - diluted

138,947

138,602

137,311

Non-GAAP earnings per diluted share:

GAAP earnings per diluted share

$     0.09

$     0.16

$    (0.53)

  Excluded items per share impact

0.06

0.04

0.70

Non-GAAP earnings per diluted share

$     0.15

$     0.20

$      0.17

Equity-based compensation expense by classification:

Cost of revenue ("COS")

$      458

$      268

$       392

Research and development 

$   3,103

$   2,368

$    2,751

Selling, general and administrative 

$   2,921

$   2,512

$    2,613