Littelfuse Q2 Earnings Exceed Estimates On Strong Demand

(RTTNews) - Littelfuse, Inc. (NASDAQ: LFUS) on Wednesday reported net income of $82.1 million or $3.30 per share in the second quarter compared with net loss of $8.99 million or $0.37 per share in the same quarter a year ago, driven by strong demand in all segments.

Excluding items, earnings were $3.41 per share. On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $2.24 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $523.49 million from $307.34 million last year. The consensus estimate was for $469.83 million.

Looking forward to the third quarter, Littelfuse expects net sales in the range of $510 million to $524 million and adjusted EPS in the range of $3.07 to $3.23. Analysts expect the company to report earnings of $2.28 per share on revenue of $468.72 million for the quarter.

The company's Board of Directors approved a 10% increase in the quarterly dividend from $0.48 to $0.53, which is equal to an annualized dividend of $2.12 per share.