Littelfuse Q1 Profit Tops Estimates; Sees Q2 Results Below View

(RTTNews) - Littelfuse, Inc. (LFUS), a manufacturer of technologies in circuit protection, power control and sensing, reported Wednesday that its first-quarter net income increased to $36.99 million or $1.48 per share from last year's $36.03 million or $1.45 per share.

Adjusted earnings per share were $1.96, compared to $2.39 last year. .

Net sales dropped 3 percent to $405.50 million from prior year's $417.81 million.

On average, seven analysts polled by Thomson Reuters expected earnings of $1.92 per share for the quarter on sales of $407.89 million. Analysts' estimates typically exclude special items.

Looking ahead, for the second quarter, the company projects adjusted earnings per share in the range of $2.00 to $2.14 and net sales in the range of $409 to $421 million.

Analysts expect earnings of $2.42 per share on sales of $437.8 million for the quarter. The company announced that payment of a cash dividend on its common stock of $0.43 per share on June 6, to shareholders of record as of May 23.