Key Developments For Littelfuse Inc
Littelfuse Inc (LFUS.O) (Nasdaq)
Littelfuse, Inc.Issues Q4 2009 Guidance Above Analysts' Estimates
Littelfuse, Inc. announced that for the fourth quarter of 2009, it expects sales to be in the range of $116 to $123 million and earnings per share (EPS) of $0.33 to $0.46. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.20 on revenue of $107 million for the fourth quarter of 2009.
Littelfuse, Inc. Updates Q3 2009 Guidance
Littelfuse, Inc. revised its third quarter 2009 guidance and expects sales to in the range of $113-$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 to be in the range of $0.32-$0.37 per diluted share (EPS), 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 range of $0.14-$0.21 per share. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.19 on revenues of $107 million for the same period.
Littelfuse, Inc. Issues FY 2009 Guidance In Line With Analysts' Estimates
Littelfuse, Inc. announced that for third quarter of 2009, it expects sales to be in the range of $104 to $108 million and earnings per share (EPS) to be $0.14 to $0.21. According to Reuters Estimates, analysts were expecting the Company to report revenues of $107 million and EPS of $0.19 for the same period.
Littelfuse, Inc. Raises Q2 2009 Revenue Outlook; Issues Q2 2009 Earnings Outlook Below Analysts' Estimates
Littelfuse, Inc. updated its second quarter of 2009 outlook and expects sales to be approximately $101 million, which represents a 20% sequential increase compared to the first quarter of 2009. Previous outlook called for a 10%-15% sequential increase. It expects GAAP loss per diluted share of $0.12-$0.14, which includes restructuring charges of approximately $7 million (pre-tax) or $0.22 per diluted share for second quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $95 million and loss per share of $0.06 for the same period.
Littelfuse, Inc. Announces Restructuring Plans
Littelfuse, Inc. announced restructuring plans which include the following: the intent to negotiate with the workers` council to transfer manufacturing from the Company`s Duensen, Germany site to Mexico. Research and development, sales and other functions will remain in Germany; the intent to negotiate closure of a Company-owned distribution center in the Netherlands and distribute products in Europe through a third-party logistics provider; pans to consolidate the Company`s Taiwan wafer fabrication facility into Wuxi, China; consolidation of certain support activities into the Company`s existing low-cost sites; other workforce reductions due to functional realignment and job elimination. The Company expects to book restructuring charges of approximately $5-$8 million pre-tax over the next several quarters related to these announcements. These restructuring activities are expected to begin in the third quarter of 2009 and be fully complete by the end of 2010. The annual savings from these activities are expected to be approximately $7 million.
