Littelfuse, Inc. (NasdaqNM:LFUS) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Littelfuse, Inc. (NasdaqNM:LFUS)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: JakeStraw	11/4/2010 7:58:40 AM
	of 11

Littelfuse Reports Third Quarter Results and Initiates Dividend finance.yahoo.com Third Quarter Highlights * Sales for the third quarter of 2010 were $163.5 million, a 40% increase compared to the third quarter of 2009 and a 4% increase from the second quarter of 2010. o Electronics sales increased 52% year over year and 4% sequentially due to continued strength across all geographies and end markets as well as inventory increases at distributors. o Automotive sales increased 18% year over year due to increased sales in all regions. Sales declined 1% sequentially due primarily to the normal summer slowdown in Europe partially offset by continued improvement in U.S. sales. o Electrical sales increased 28% year over year due to continued strong growth for protection relays and steady improvement in power fuse demand. Electrical sales increased 8% sequentially. * On a GAAP basis, diluted earnings per share for the third quarter of 2010 were $1.04 compared to $0.37 for the third quarter of 2009. The third quarter 2010 results include a $3.0 million pre-tax write-down for real estate in Des Plaines, Illinois and Dundalk, Ireland. Adjusted earnings per share excluding this non-cash charge were $1.13 (see Supplemental Information for reconciliation of GAAP earnings to adjusted earnings). The large improvement in earnings compared to the prior-year quarter was due to strong sales growth combined with significant improvements in the company’s cost structure. * The effective tax rate for the third quarter of 2010 increased to 31% from 29% in the second quarter of 2010 due to increased profitability in high-tax-rate jurisdictions, particularly the U.S. Improved U.S. profitability was primarily due to cost savings from the closure of two North American manufacturing sites. * Cash provided by operating activities increased to $48.8 million in the third quarter of 2010 compared to $5.0 million in the third quarter of 2009 and $19.2 million in the second quarter of 2010. Capital expenditures for the third quarter of 2010 were $8.6 million. * The book-to-bill ratio for electronics for the third quarter of 2010 was 0.8 as shipments remained strong while the order rate declined heading into the seasonally slower part of the year. * The company repurchased 570,140 shares of its common stock in the third quarter of 2010 at an average price of $39.09 per share.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next