UPDATE 2-Intersil posts lower Q1 profit; sees strong Q2 revenue

* Q1 earnings hit by drop in revenue

* Sees Q2 shr $-0.01 to $0.03

* Sees Q2 revenue above estimates

* Names Jonathan Kennedy CFO

(Recasts, adds details)

April 22 (Reuters) - Chipmaker Intersil Corp (ISIL.O) posted a slump in quarterly profit, hurt by a 42 percent fall in revenue and a decline in some market segments, but forecast second-quarter revenue ahead of market estimates.

The company said consumer, industrial and communications markets continue to be soft and it expects recovery in those markets will be delayed by another quarter.

Analysts believe that the chip industry, which has taken a severe beating in recent months, may have weathered the worst phase, but will still look forward to a bleak 2009.

"With strong bookings during the last part of first quarter and a positive book-to-bill so far in Q2, we are confident that we've turned a corner in this downturn," CEO Dave Bell said in a conference call with analysts.