Littelfuse Q1 Profit Climbs - Quick Facts

(RTTNews) - Littelfuse, Inc. (LFUS) Tuesday reported first-quarter net income of $25.39 million or $1.12 per share, significantly up from $11.49 million or $0.51 per share in the prior year.

Excluding special items, adjusted earnings for the first quarter of 2014 were $1.16 per share.

On average, four analysts polled by Thomson Reuters expected the company to earn $1.15 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 21% to $206.86 million from $170.92 million a year ago. Analysts estimated revenues of $204.84 million for the quarter.

According to the company, the sales performance was due to Hamlin and SymCom acquisitions, as well as strong organic growth in automotive and electronics, partially offset by lower electrical sales reflecting weakness in the mining sector.

Excluding acquisitions, sales increased 6% compared to the prior year.

Looking ahead to the second quarter, the company expects earnings, excluding any special items, to be in the range of $1.23 to $1.37 per share. Sales are anticipated to be in the range of $216 to $226 million, which represents 18% year-over-year growth at the midpoint.

Street analysts expect the company to report earnings of $1.29 per share, on revenues of $218.45 million for the quarter.

Further, the company said it will pay a cash dividend of $0.22 per share on June 5, 2014, to shareholders of record on May 22, 2014.