Littelfuse Reports Second-Quarter Results

CHICAGO (AP) _ Littelfuse Inc. on Wednesday reported second-quarter net income of $42.3 million.

On a per-share basis, the Chicago-based company said it had net income of $1.67. Earnings, adjusted for non-recurring costs and restructuring costs, came to $2.68 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.

The circuit protection manufacturer posted revenue of $459.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $458.6 million.

Littelfuse shares have climbed almost 10 percent since the beginning of the year. The stock has risen 20 percent in the last 12 months.

“We are pleased with our record second quarter results driven by strong demand for our products across all segments and consistent operational performance, including the ongoing integration of the IXYS business,” said  Dave Heinzmann, Littelfuse Chief Executive Officer. “With our diversified product portfolio and global presence, we are benefiting from broad-based market demand. Looking ahead, we remain well-positioned to leverage the global mega trends of a safer, greener and increasingly connected world as we execute our long-term strategy and drive double-digit sales and earnings growth.”


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