LITTELFUSE RAISES GUIDANCE FOR FIRST QUARTER
2010-04-09 04:00:00CHICAGO, April 9, 2010 – Littelfuse, Inc. (NASDAQ:LFUS) today announced revised guidance for the first quarter of 2010 as follows:
- Sales for the first quarter of 2010 are now expected to be approximately $144 million, which represents growth of 71% year over year and 13% sequentially. Previous guidance called for sales in the range of $130 to $138 million.
- Operating expenses are expected to be higher than previously anticipated due to higher logistics and premium freight costs to accommodate the sharp increase in customer demand and higher incentive plan accruals related to stronger-than-expected profitability.
- Pre-tax operating margin is expected to be approximately 15%.
- Earnings for the first quarter of 2010 are expected to be in the range of $0.67 to $0.71 per diluted share. Previous guidance called for earnings in the range of $0.50 to $0.62 per diluted share.
“Electronics and automotive demand is exceeding our forecast in all regions, and Startco is performing at the high end of expectations,” said Gordon Hunter, Chief Executive Officer. “Order rates and backlog for most products increased as we progressed through the first quarter.”
No conference call will be held in conjunction with this revised guidance. Littelfuse is scheduled to release financial results for the first quarter on May 6, 2010.
About Littelfuse
As the worldwide leader in circuit protection products and solutions with annual sales of $430.1 million in 2009, 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
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