CHICAGO--(BUSINESS WIRE)--
Littelfuse,
Inc. (NASDAQ:LFUS) today announced revised guidance for the first
quarter of 2013 as follows:
-
Sales for the first quarter of 2013 are now expected to be
approximately $171 million compared to previous guidance of $158 to
$168 million.
-
On a GAAP basis, the company now expects first quarter 2013 earnings
of $0.63 to $0.66 per diluted share. This includes a non-cash charge
of approximately $10.7 million pre-tax ($0.29 per share after tax) to
write off the remaining equity investment and loan balance for
Shocking Technologies, which is in Chapter 7 bankruptcy. The previous
guidance, which called for earnings in the range of $0.75 to $0.88 per
diluted share, did not include this charge.
"After a relatively weak finish to 2012, all three of our businesses
grew sales in the first quarter of 2013," said Gordon Hunter, Chief
Executive Officer. "The higher sales combined with solid operational
execution contributed to improved operating margin for the quarter."
No conference call will be held in conjunction with this guidance
revision. Littelfuse is scheduled to release financial results for the
first quarter on Tuesday, April 30, 2013.
About Littelfuse
Founded in 1927, Littelfuse, Inc., the worldwide leader in circuit
protection, offers the industry's broadest and deepest portfolio of
circuit protection products and solutions. Littelfuse devices protect
products in virtually every market that uses electrical energy, from
consumer electronics to automobiles to industrial equipment. In addition
to its Chicago, Illinois, world headquarters, Littelfuse has more than
30 sales, distribution, manufacturing and engineering facilities in the
Americas, Europe and Asia. Technologies offered by Littelfuse include Fuses;
Gas
Discharge Tubes (GDTs); Positive
Temperature Coefficient Devices (PTCs); PulseGuard®
ESD Suppressors; SIDACtor®
Devices; Silicon
Protection Arrays (SPA®); Switching
Thyristors; TVS
Diodes and Varistors.
The company also offers a comprehensive line of highly reliable Electromechanical
and Electronic Switch and Control Devices for commercial and
specialty vehicles and Sensors for automobile safety systems, as well as Protection
Relays and underground Power
Distribution Centers for the safe control and distribution of
electricity.
For more information, please visit the Littelfuse website: 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 PSLRA. These statements may involve risks
and uncertainties, including, but not limited to, risks relating to
product demand and market acceptance, economic conditions, the impact of
competitive products and pricing, product quality problems or product
recalls, capacity and supply difficulties or constraints, coal mining
exposures reserves, failure of an indemnification for environmental
liability, exchange rate fluctuations, commodity price fluctuations, the
effect of the company's accounting policies, labor disputes,
restructuring costs in excess of expectations, pension plan asset
returns less than assumed, integration of acquisitions and other risks
which may be detailed in the company's other 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 report 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 29, 2012. For a further discussion of the risk factors of the
company, please see Item 1A. "Risk Factors" to the company's
Annual Report on Form 10-K for the year ended December 29, 2012.
LFUS-F
Littelfuse, Inc.
Phil Franklin, (773) 628-0810
Vice
President, Operations Support and CFO
Source: Littelfuse, Inc.
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