Intersil Earnings Down 35%; Sales Slump Cited

Intersil Corp., which makes microchips for wireless computer networking and power management, on Friday reported lower earnings for the third quarter as sales slumped.

The Irvine company said, however, that it expects fourth-quarter earnings to exceed analysts’ expectations, as its chips become used in more devices.

Intersil said its operating earnings totaled $11.1 million, or 10 cents a share, down more than 35% from $17.2 million, or 17 cents a share, in the same quarter last year. Special charges created a net loss of $3.3 million, or 3 cents a share, for the recent quarter. Sales slumped nearly 32% to $113.4 million.

The company said it expects fourth-quarter earnings of 11 cents a share, which would top Wall Street estimates of 7 to 8 cents a share in a survey by Thomson Financial/First Call.

The stock closed Friday at $34.56, up $2.54 a share, on Nasdaq.

* Earle M. Jorgensen Co., a Brea metal distributor, said net income for the second quarter fell 12% to $5.3 million from $6 million. Revenue decreased 14% to $223.7 million.

* Water Pik Technologies Inc., a Newport Beach manufacturer of personal health care products, pool products and heating systems, reported third-quarter net income of $1.9 million, or 16 cents a share, 12% higher than $1.7 million, or 17 cents a share, a year ago. Sales were up 12% to $75.2 million.

Interpore Cross International, an Irvine medical device company, said net income for the third quarter totaled $813,000, or 5 cents a share, down 31% from the $1.2 million, or 8 cents a share, posted a year ago. Sales rose 15% to $12.2 million.