Littelfuse Reports Third Quarter Results For 2021

October 26, 2021 at 5:00 PM EDT

Record sales and earnings driven by strong business fundamentals

CHICAGO--(BUSINESS WIRE)--Oct. 26, 2021-- Littelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the third quarter ended September 25, 2021:

  • Net sales of $539.6 million primarily driven by stronger than expected demand across the electronics segment
  • GAAP operating margin was 22.3%; adjusted operating margin was 22.8%
  • GAAP diluted EPS of $3.69 and adjusted diluted EPS of $3.95
  • Cash flow from operations was $114.3 million and free cash flow was $89.4 million
  • On October 20, the company announced it has entered into a definitive agreement to acquire Carling Technologies, Inc., a global leader in switching, circuit protection, and power distribution technologies with a strong presence in commercial vehicle and telecom infrastructure markets; the company has annualized sales of approximately $170 million

“Our ability to effectively execute within this challenging environment enabled us to deliver a quarter of outstanding performance,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Across our global footprint, our highly skilled teams are continuously improving our operations to meet customer demand, and our results reflect their commitment and hard work. We also made further progress on our growth strategy and are excited to welcome Carling Technologies employees to the Littelfuse team. As we near the end of a challenging 2021, we are poised to achieve significant sales and earnings growth this year, and remain well-positioned to deliver ongoing superior value for our stakeholders.”

Fourth Quarter of 2021*

For the fourth quarter, the company expects net sales in the range of $503 to $517 million and adjusted diluted EPS in the range of $2.80 to $2.96.

*Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.

Dividend

  • The company will pay a cash dividend on its common stock of $0.53 per share on December 2, 2021 to shareholders of record as of November 18, 2021

Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, October 27, 2021, at 9:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at Littelfuse.com. A slide presentation is available in the Investor Relations section of the company’s website at Littelfuse.com.

About Littelfuse

Littelfuse (NASDAQ: LFUS) is an industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 15 countries, and with 12,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more at Littelfuse.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. These statements may involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID-19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse, Inc.'s ("Littelfuse" or the "Company") accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 26, 2020.

Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 26, 2020, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

Non-GAAP Financial Measures

The information included in this press release includes the non-GAAP financial measures of organic net sales growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, adjusted effective tax rate, free cash flow, consolidated total gross debt, consolidated EBITDA (as defined in the private placement senior notes), and ratio of consolidated total gross debt to consolidated EBITDA. Many of these non-GAAP financial measures exclude the effect of certain expenses and income not related directly to the underlying performance of our fundamental business operations.

A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is set forth in the attached schedules.

The company believes that organic net sales growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, and adjusted effective tax rate provide useful information to investors regarding its operational performance because they enhance an investor’s overall understanding of our core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of our fundamental business operations or were not part of our business operations during a comparable period. The company believes that free cash flow is a useful measure of its ability to generate cash. The company believes that consolidated total gross debt, consolidated EBITDA, and ratio of consolidated total gross debt to consolidated EBITDA are useful measures of its credit position. The company believes that all of these non-GAAP financial measures are commonly used by financial analysts and others in the industries in which we operate, and thus further provide useful information to investors. Management additionally uses these measures when assessing the performance of the business and for business planning purposes. Note that our definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.

LFUS-F

LITTELFUSE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

 

(Unaudited)

 

 

(in thousands)

 

September 25,
2021

 

December 26,
2020

ASSETS

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

690,682

 

 

$

687,525

 

Short-term investments

 

28

 

 

54

 

Trade receivables, less allowances of $53,006 and $45,237 at September 25, 2021 and December 26, 2020, respectively

 

325,739

 

 

232,760

 

Inventories

 

357,024

 

 

258,002

 

Prepaid income taxes and income taxes receivable

 

2,695

 

 

3,029

 

Prepaid expenses and other current assets

 

59,768

 

 

35,939

 

Total current assets

 

1,435,936

 

 

1,217,309

 

Net property, plant, and equipment

 

364,329

 

 

344,178

 

Intangible assets, net of amortization

 

295,766

 

 

291,887

 

Goodwill

 

847,205

 

 

816,812

 

Investments

 

39,885

 

 

30,547

 

Deferred income taxes

 

9,575

 

 

11,224

 

Right of use lease assets, net

 

24,375

 

 

17,615

 

Other assets

 

21,447

 

 

18,021

 

Total assets

 

$

3,038,518

 

 

$

2,747,593

 

LIABILITIES AND EQUITY

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable

 

$

221,889

 

 

$

145,984

 

Accrued liabilities

 

139,670

 

 

110,478

 

Accrued income taxes

 

32,462

 

 

19,186

 

Current portion of long-term debt

 

27,619

 

 

 

Total current liabilities

 

421,640

 

 

275,648

 

Long-term debt, less current portion

 

620,112

 

 

687,034

 

Deferred income taxes

 

50,365

 

 

50,134

 

Accrued post-retirement benefits

 

42,026

 

 

45,802

 

Non-current operating lease liabilities

 

17,440

 

 

12,950

 

Other long-term liabilities

 

65,537

 

 

67,252

 

Total equity

 

1,821,398

 

 

1,608,773

 

Total liabilities and equity

 

$

3,038,518

 

 

$

2,747,593

 

LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME

(Unaudited)

 

 

 

Three Months Ended

 

Nine Months Ended

(in thousands, except per share data)

 

September 25,
2021

 

September 26,
2020

 

September 25,
2021

 

September 26,
2020

Net sales

 

$

539,581

 

 

$

391,566

 

 

$

1,526,863

 

 

$

1,044,999

 

Cost of sales

 

325,009

 

 

252,735

 

 

954,429

 

 

681,910

 

Gross profit

 

214,572

 

 

138,831

 

 

572,434

 

 

363,089

 

 

 

 

 

 

 

 

 

 

Selling, general, and administrative expenses

 

67,468

 

 

49,929

 

 

199,071

 

 

154,328

 

Research and development expenses

 

15,779

 

 

12,963

 

 

46,912

 

 

40,587

 

Amortization of intangibles

 

10,446

 

 

10,104

 

 

31,608

 

 

29,912

 

Restructuring, impairment, and other charges

 

772

 

 

1,277

 

 

1,998

 

 

40,904

 

Total operating expenses

 

94,465

 

 

74,273

 

 

279,589

 

 

265,731

 

Operating income

 

120,107

 

 

64,558

 

 

292,845

 

 

97,358

 

 

 

 

 

 

 

 

 

 

Interest expense

 

4,602

 

 

4,988

 

 

13,901

 

 

16,261

 

Foreign exchange loss (gain)

 

3,154

 

 

(6,174)

 

 

8,315

 

 

(9,600)

 

Other income, net

 

(1,240)

 

 

(1,682)

 

 

(10,867)

 

 

(1,643)

 

Income before income taxes

 

113,591

 

 

67,426

 

 

281,496

 

 

92,340

 

Income taxes

 

21,537

 

 

12,070

 

 

49,634

 

 

21,331

 

Net income

 

$

92,054

 

 

$

55,356

 

 

$

231,862

 

 

$

71,009

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

Basic

 

$

3.74

 

 

$

2.27

 

 

$

9.43

 

 

$

2.92

 

Diluted

 

$

3.69

 

 

$

2.25

 

 

$

9.31

 

 

$

2.89

 

 

 

 

 

 

 

 

 

 

Weighted-average shares and equivalent shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

24,622

 

 

24,357

 

 

24,582

 

 

24,354

 

Diluted

 

24,926

 

 

24,573

 

 

24,904

 

 

24,535

 

 

 

 

 

 

 

 

 

 

Comprehensive income

 

$

87,100

 

 

$

72,337

 

 

$

227,491

 

 

$

70,594

 

LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

 

Nine Months Ended

(in thousands)

 

September 25,
2021

 

September 26,
2020

OPERATING ACTIVITIES

 

 

 

 

Net income

 

$

231,862

 

 

$

71,009

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

96,824

 

 

113,867

 

Changes in operating assets and liabilities:

 

 

 

 

Trade receivables

 

(83,793)

 

 

(29,362)

 

Inventories

 

(71,232)

 

 

(1,611)

 

Accounts payable

 

53,945

 

 

6,661

 

Accrued liabilities and income taxes

 

23,294

 

 

(2,095)

 

Prepaid expenses and other assets

 

(10,236)

 

 

5,787

 

Net cash provided by operating activities

 

240,664

 

 

164,256

 

 

 

 

 

 

INVESTING ACTIVITIES

 

 

 

 

Acquisitions of businesses, net of cash acquired

 

(110,646)

 

 

 

Purchases of property, plant, and equipment

 

(57,526)

 

 

(41,536)

 

Net proceeds from sale of property, plant, and equipment, and other

 

2,561

 

 

148

 

Net cash used in investing activities

 

(165,611)

 

 

(41,388)

 

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

Net (payments) proceeds from credit facility

 

(30,000)

 

 

35,000

 

Purchases of common stock

 

 

 

(22,927)

 

Cash dividends paid

 

(36,648)

 

 

(35,100)

 

All other cash provided by financing activities

 

5,771

 

 

4,651

 

Net cash used in financing activities

 

(60,877)

 

 

(18,376)

 

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

 

(5,832)

 

 

6,259

 

Increase in cash, cash equivalents, and restricted cash

 

8,344

 

 

110,751

 

Cash, cash equivalents, and restricted cash at beginning of period

 

687,525

 

 

531,139

 

Cash, cash equivalents, and restricted cash at end of period

 

$

695,869

 

 

$

641,890

 

LITTELFUSE, INC.

NET SALES AND OPERATING INCOME BY SEGMENT

(Unaudited)

 

 

 

Third Quarter

 

Year-to-Date

(in thousands)

 

2021

 

2020

 

%
Growth
/(Decline)

 

2021

 

2020

 

%
Growth
/(Decline)

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Electronics

 

$

347,240

 

 

$

255,349

 

 

36.0

%

 

$

959,122

 

 

$

692,809

 

 

38.4

%

Automotive

 

124,415

 

 

104,724

 

 

18.8

%

 

386,262

 

 

271,493

 

 

42.3

%

Industrial

 

67,926

 

 

31,493

 

 

115.7

%

 

181,479

 

 

80,697

 

 

124.9

%

Total net sales

 

$

539,581

 

 

$

391,566

 

 

37.8

%

 

$

1,526,863

 

 

$

1,044,999

 

 

46.1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

Electronics

 

$

100,524

 

 

$

45,860

 

 

119.2

%

 

$

230,283

 

 

$

110,783

 

 

107.9

%

Automotive

 

15,806

 

 

15,383

 

 

2.7

%

 

55,380

 

 

20,642

 

 

168.3

%

Industrial

 

6,571

 

 

4,898

 

 

34.2

%

 

18,452

 

 

8,409

 

 

119.4

%

Other(a)

 

(2,794)

 

 

(1,583)

 

 

N.M.

 

 

(11,270)

 

 

(42,476)

 

 

N.M.

 

Total operating income

 

$

120,107

 

 

$

64,558

 

 

86.0

%

 

$

292,845

 

 

$

97,358

 

 

200.8

%

Operating Margin

 

22.3

%

 

16.5

%

 

 

 

19.2

%

 

9.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

4,602

 

 

4,988

 

 

 

 

13,901

 

 

16,261

 

 

 

Foreign exchange loss (gain)

 

3,154

 

 

(6,174)

 

 

 

 

8,315

 

 

(9,600)

 

 

 

Other income, net

 

(1,240)

 

 

(1,682)

 

 

 

 

(10,867)

 

 

(1,643)

 

 

 

Income before income taxes

 

$

113,591

 

 

$

67,426

 

 

68.5

%

 

$

281,496

 

 

$

92,340

 

 

204.8

%

 

(a) "other" typically includes non-GAAP adjustments such as acquisition-related and integration costs, purchase accounting inventory adjustments and restructuring and impairment charges. (See Supplemental Financial Information for details.)

N.M. - Not meaningful

 

 

Third Quarter

 

Year-to-Date

(in thousands)

 

2021

 

2020

 

%
Growth
/(Decline)

 

2021

 

2020

 

%
Growth
/(Decline)

Operating Margin

 

 

 

 

 

 

 

 

 

 

 

 

Electronics

 

28.9

%

 

18.0

%

 

10.9

%

 

24.0

%

 

16.0

%

 

8.0

%

Automotive

 

12.7

%

 

14.7

%

 

(2.0)

%

 

14.3

%

 

7.6

%

 

6.7

%

Industrial

 

9.7

%

 

15.6

%

 

(5.9)

%

 

10.2

%

 

10.4

%

 

(0.2)

%

LITTELFUSE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(In millions of USD except per share amounts - unaudited)

 

Non-GAAP EPS reconciliation

 

 

 

 

 

 

 

 

 

 

Q3-21

 

Q3-20

 

YTD-21

 

YTD-20

GAAP diluted EPS

 

$

3.69

 

 

$

2.25

 

 

$

9.31

 

 

$

2.89

 

EPS impact of Non-GAAP adjustments (below)

 

0.26

 

 

(0.09)

 

 

0.73

 

 

1.27

 

Adjusted diluted EPS

 

$

3.95

 

 

$

2.16

 

 

$

10.04

 

 

$

4.16

 

Non-GAAP adjustments - (income) / expense

 

 

 

 

 

 

 

 

 

 

Q3-21

 

Q3-20

 

YTD-21

 

YTD-20

Acquisition-related and integration costs (a)

 

$

2.0

 

 

$

0.3

 

 

$

3.4

 

 

$

1.6

 

Purchase accounting inventory adjustments (b)

 

 

 

 

 

6.8

 

 

 

Restructuring, impairment and other charges (c)

 

0.8

 

 

1.3

 

 

2.0

 

 

40.9

 

Gain on sale of fixed assets (d)

 

 

 

 

 

(0.9)

 

 

 

Non-GAAP adjustments to operating income

 

2.8

 

 

1.6

 

 

11.3

 

 

42.5

 

Other expense, net (e)

 

0.1

 

 

0.1

 

 

0.6

 

 

2.1

 

Non-operating foreign exchange loss (gain)

 

3.2

 

 

(6.2)

 

 

8.3

 

 

(9.6)

 

Non-GAAP adjustments to income before income taxes

 

6.1

 

 

(4.5)

 

 

20.2

 

 

35.0

 

Income taxes (f)

 

(0.4)

 

 

(2.2)

 

 

2.1

 

 

3.9

 

Non-GAAP adjustments to net income

 

$

6.5

 

 

$

(2.3)

 

 

$

18.1

 

 

$

31.1

 

 

 

 

 

 

 

 

 

 

Total EPS impact

 

$

0.26

 

 

$

(0.09)

 

 

$

0.73

 

 

$

1.27

 

Adjusted operating margin / Adjusted EBITDA reconciliation

 

 

 

 

 

 

 

 

 

 

Q3-21

 

Q3-20

 

YTD-21

 

YTD-20

Net sales

 

$

539.6

 

 

$

391.6

 

 

$

1,526.9

 

 

$

1,045.0

 

GAAP operating income

 

120.1

 

 

$

64.6

 

 

292.8

 

 

$

97.4

 

Add back non-GAAP adjustments

 

2.8

 

 

1.6

 

 

11.3

 

 

42.5

 

Adjusted operating income

 

$

122.9

 

 

$

66.2

 

 

$

304.1

 

 

$

139.9

 

Adjusted operating margin

 

22.8

%

 

16.9

%

 

19.9

%

 

13.4

%

Add back amortization

 

10.4

 

 

10.1

 

 

31.6

 

 

29.9

 

Add back depreciation

 

14.2

 

 

14.2

 

 

41.4

 

 

42.0

 

Adjusted EBITDA

 

$

147.5

 

 

$

90.5

 

 

$

377.1

 

 

$

211.8

 

Adjusted EBITDA margin

 

27.3

%

 

23.1

%

 

24.7

%

 

20.3

%

Net sales reconciliation

 

Q3-21 vs. Q3-20

 

 

Electronics

 

Automotive

 

Industrial

 

Total

Net sales growth

 

36

%

 

19

%

 

116

%

 

38

%

Less:

 

 

 

 

 

 

 

 

Acquisitions

 

 

 

 

 

93

%

 

8

%

Transfer a product line between segments

 

%

 

%

 

%

 

%

FX impact

 

1

%

 

2

%

 

1

%

 

1

%

Organic net sales growth

 

35

%

 

17

%

 

22

%

 

29

%

Net sales reconciliation

 

YTD-21 vs. YTD-20

 

 

Electronics

 

Automotive

 

Industrial

 

Total

Net sales growth

 

38

%

 

42

%

 

125

%

 

46

%

Less:

 

 

 

 

 

 

 

 

Acquisitions

 

 

 

 

 

90

%

 

7

%

Transfer a product line between segments

 

(1)

%

 

%

 

6

%

 

%

FX impact

 

2

%

 

5

%

 

1

%

 

3

%

Organic net sales growth

 

37

%

 

37

%

 

28

%

 

36

%

Income tax reconciliation

 

 

 

 

 

 

 

 

 

 

Q3-21

 

Q3-20

 

YTD-21

 

YTD-20

Income taxes

 

$

21.5

 

 

$

12.1

 

 

$

49.6

 

 

$

21.3

 

Effective rate

 

19.0

%

 

17.9

%

 

17.6

%

 

23.1

%

Non-GAAP adjustments - income taxes

 

(0.4)

 

 

(2.2)

 

 

2.1

 

 

3.9

 

Adjusted income taxes

 

$

21.1

 

 

$

9.9

 

 

$

51.7

 

 

$

25.2

 

Adjusted effective rate

 

17.6

%

 

15.7

%

 

17.1

%

 

19.8

%

Free cash flow reconciliation

 

 

 

 

 

 

 

 

 

 

Q3-21

 

Q3-20

 

YTD-21

 

YTD-20

Net cash provided by operating activities

 

$

114.3

 

 

$

63.0

 

 

$

240.7

 

 

$

164.3

 

Less: Purchases of property, plant and equipment

 

(24.9)

 

 

(12.1)

 

 

(57.5)

 

 

(41.6)

 

Free cash flow

 

$

89.4

 

 

$

50.9

 

 

$

183.2

 

 

$

122.7

 

Consolidated Total Debt

 

As of September 25, 2021

Consolidated total gross debt

 

$

651.1

 

Unamortized debt issuance costs

 

(3.4)

 

Consolidated Total Debt

 

$

647.7

 

 

 

 

Consolidated EBITDA (as defined in the Private Placement Senior Notes) (1)

 

Twelve Months Ended
September 25, 2021

Net Income

 

$

290.9

 

Interest expense

 

18.7

 

Income taxes

 

59.6

 

Depreciation

 

55.6

 

Amortization

 

41.7

 

Non-cash additions (reductions):

 

 

Stock-based compensation expense

 

19.6

 

Purchase accounting inventory step-up charge

 

6.8

 

Unrealized gain on investments

 

(13.2)

 

Impairment charges

 

 

Other

 

3.4

 

Consolidated EBITDA (as defined in the Private Placement Senior Notes) (1)

 

$

483.1

 

 

 

 

Ratio of Consolidated total gross debt to Consolidated EBITDA (as defined in Private Placement Senior Notes)*

 

 

1.3

x

* Our Private Placement Senior Notes, with maturities ranging from 2022 to 2030, contain a financial ratio covenant providing that if, as of the last day of each fiscal quarter, the ratio of Consolidated total gross debt at such time to Consolidated EBITDA for the then most recently concluded period of four consecutive fiscal quarters of the Company exceeds 3.50:1.00, an Event of Default (as defined in the Private Placement Senior Notes) is triggered.

(1) Represents Consolidated EBITDA as defined in our Private Placement Senior Notes and is calculated using the most recently concluded period of four consecutive quarters.

 

Note: Total will not always foot due to rounding.

 

(a) reflected in selling, general and administrative expenses ("SG&A").

(b) reflected in cost of sales.

(c) For the fiscal year ended December 26, 2020, the Company presented restructuring, impairment and other charges as a separate caption in the Consolidated Statements of Net Income. Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.

(d) reflected in SG&A, a year-to-date gain of $0.9 million from the sale of a building within the Electronics segment during 2021.

(e) Q3 2021 included a $0.1 million charge for an asset retirement obligation related to the disposal of a business in 2019. 2021 year-to-date amount included $0.5 million of impairment charges on certain other investments. Q3 2020 amount included $0.1 million of impairment charges on certain other investments. 2020 year-to date amount included $1.8 million increase in coal mining reserves and $0.2 million charge for an asset retirement obligation related to the disposal of a business in 2019.

(f) reflected the tax impact associated with the non-GAAP adjustments.

 

Trisha Tuntland
Head of Investor Relations
(773) 628-2163

Source: Littelfuse, Inc.

Print Page
Email Page
RSS Feeds
Contact IR
Email Alerts
Financial Tearsheet