Intersil Corporation Reports Second Quarter Results

 

Intersil Corporation

Condensed Consolidated Statements of Cash Flows

Unaudited

(In thousands)








Quarter Ended


Jul. 1


Apr. 1,


Jul. 3


2016


2016


2015


Q2 2016


Q1 2016


Q2 2015

Operating activities:






Net income

$             1,389


$      11,751


$      37,724

   Depreciation

3,467


3,579


3,607

   Amortization of purchased intangibles

2,867


3,528


4,026

   Equity-based compensation

8,122


6,482


6,689

   Asset impairment charges

9,998


-


-

   Deferred income taxes

(1,635)


-


(5,823)

   Other

(847)


21


(64)

   Net changes in operating assets and liabilities

3,835


(7,691)


(21,933)

    Net cash flows provided by operating activities

27,196


17,670


24,226







Investing activities:






   Proceeds from investments

42


28


-

   Net capital expenditures

(2,004)


(2,716)


(4,997)

    Net cash flows used in investing activities

(1,962)


(2,688)


(4,997)







Financing activities:






   Proceeds from (tax payments for) equity-based awards, net

(3,168)


6,417


1,851

   Dividends paid

(18,878)


(15,987)


(17,196)

     Net cash flows used in financing activities

(22,046)


(9,570)


(15,345)







Effect of exchange rates on cash and cash equivalents

70


791


178







     Net change in cash and cash equivalents

3,258


6,203


4,062







Cash and cash equivalents as of the beginning of the period

253,606


247,403


220,900







    Cash and cash equivalents as of the end of the period

$         256,864


$    253,606


$    224,962


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