Press Release
Littelfuse Updates Guidance for Third Quarter
2009-09-16 06:45:00CHICAGO, September 16, 2009--Littelfuse, Inc. (NASDAQ:LFUS) today announced revised guidance for the third quarter of 2009 as follows:
- Sales for the third quarter of 2009 are now expected to be $113 to $116 million, which represents an 11-14% sequential increase compared to the second quarter of 2009. Previous guidance indicated a 3-7% sequential increase.
- On a GAAP basis, the company expects to report earnings for the third quarter of 2009 of $0.32 to $0.37 per diluted share, which includes a one-time tax benefit of approximately $2.0 million or $0.09 per share and an asset impairment charge on real estate in Europe of approximately $1.1 million (pre-tax) or $0.04 per share. Excluding the above items, adjusted earnings for the third quarter of 2009 are expected to be $0.27 to $0.32 per share, compared to previous guidance of $0.14 to $0.21 per share.
"Automotive and electronics sales are exceeding our expectations for the third quarter as the global economy has improved a little faster than we anticipated," said Gordon Hunter, Chief Executive Officer. "Automotive incentive programs and low inventories at electronics distributors are also contributing to the stronger demand."
No conference call will be held in conjunction with this revised guidance. Littelfuse is scheduled to release financial results for the third quarter on Thursday, October 29, 2009.
About LittelfuseAs the worldwide leader in circuit protection products and solutions with annual sales of $530.9 million in 2008, the Littelfuse portfolio is backed by industry-leading technical support, design and manufacturing expertise. Littelfuse products are vital components in virtually every product that uses electrical energy, including automobiles, computers, consumer electronics, handheld devices, industrial equipment and telecom/datacom circuits. Littelfuse offers Teccor®, Wickmann® and Pudenz® brand circuit protection products. In addition to its Chicago, Illinois, world headquarters, Littelfuse has sales, distribution, manufacturing and engineering facilities in Brazil, Canada, China, England, Germany, Hong Kong, India, Japan, Korea, Mexico, the Netherlands, the Philippines, Singapore, Taiwan and the U.S.
For more information, please visit Littelfuse’s Web site at www.littelfuse.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including, but not limited to, product demand and market acceptance risks, the effect of economic conditions, the impact of competitive products and pricing, product development and patent protection, commercialization and technological difficulties, capacity and supply constraints or difficulties, exchange rate fluctuations, actual purchases under agreements, the effect of the company's accounting policies, and other risks which may be detailed in the company's Securities and Exchange Commission filings.
