Intersil Corporation Reports Strong Quarterly Results

 

Intersil Corporation

Condensed Consolidated Statements of Cash Flows

Unaudited

(In thousands)









Quarter Ended



Sep. 30


Jul. 1


Oct. 2



2016


2016


2015



Q3 2016


Q2 2016


Q3 2015


Operating activities:







Net income

$                15,883


$        1,389


$      16,984


   Depreciation

2,903


3,467


3,635


   Amortization of purchased intangibles

2,669


2,867


3,777


   Equity-based compensation

5,563


8,122


5,565


   Asset impairment charges

-


9,998


-


   Deferred income taxes

4,099


(1,635)


1,412


   Other

(1,071)


(847)


(771)


   Net changes in operating assets and liabilities

(6,777)


3,835


4,193


    Net cash flows provided by operating activities

23,269


27,196


34,795









Investing activities:







   Cash paid for acquisition, net of cash acquired

-


-


(15,948)


   Proceeds from investments

865


42


460


   Net capital expenditures

(1,784)


(2,004)


(1,764)


   Advance received for planned disposition of 200mm line

2,422


-


-


     Net cash flows provided by/ (used in) investing activities

1,503


(1,962)


(17,252)









Financing activities:







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

18,446


(3,168)


2,587


   Dividends paid

(16,338)


(18,878)


(15,959)


     Net cash flows provided by/ (used in) financing activities

2,108


(22,046)


(13,372)









Effect of exchange rates on cash and cash equivalents

303


70


(235)









     Net change in cash and cash equivalents

27,183


3,258


3,936









Cash and cash equivalents as of the beginning of the period

256,864


253,606


224,962









    Cash and cash equivalents as of the end of the period

$              284,047


$    256,864


$    228,898



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