Note 1 Basis of Presentation Intersil Corporation ( Intersil ) designs, develops, manufactures and markets high-performance analog, mixed-signal and power integrated circuits ( ICs ) for applications in the global I ndustrial &amp; Infrastructure , C onsumer , and Personal Computing electronics markets. In our opinion, these interim unaudited condensed consolidated financial statements include all adjustments necessary to present fairly, in all material respects, the financial position, results of operations and cash flows for all periods presented. We prepared these unaudited condensed consolidated financial statements in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X, using management estimates where necessary. We derived the December 30, 2011 consolidated balance sheet from our audited consolidated year-end financial statements. You should read this interim report in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 30, 2011. We utilize a 52/53 week fiscal year, ending on the nearest Friday to December 31. The next 53 week period will be in the second quarter of our fiscal year 2013. Quarterly or annual periods vary from exact calendar quarters or years. Past financial performance may not be indicative of future financial performance for any other interim period or for the full fiscal year. For example, sales in the C onsumer and Personal C omputing markets have historically experienced weaker demand in the first and second fiscal quarters and stronger demand in the third and fourth fiscal quarters. However, recent economic events, acquisitions and the cyclical nature of the industry in which we operate have had a greater impact on quarterly fluctuations in recent years. Certain prior year amounts have been reclassified to conform to current year presentation.