Littelfuse Q2 Profit Climbs, Ups Dividend - Quick Facts

(RTTNews) - Littelfuse Inc. (LFUS), a manufacturer of circuit protection devices, Wednesday reported higher profit for the second quarter, amid a 7 percent increase in sales.

Net income increased to $26.65 million from $22.96 million. Earnings per share advanced to $1.18 from $1.04.

This latest results included $3.7 million of foreign exchange gains and $2.9 million of costs related to the Hamlin acquisition. The net of these special items was a gain of $0.03 per share.

On average, 5 analysts polled by Thomson Reuters expected earnings of $1.13 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $187.77 million from $175.85 million. Analysts expected revenues of $190.63 million.

Gordon Hunter, CEO, said, "Overall, we had a very solid quarter with no surprises. The electronics business ramped up as expected. The automotive business continues to benefit from recent acquisitions and global growth in car production as well as content increases for both circuit protection and sensors.''

Hunter noted that the electrical business is being affected by the expected declines in the mining segment. But it is still performing well in the solar and industrial markets.

Looking ahead, earnings for the third quarter are expected to be in the range of $1.12 to $1.27 per share.

Sales for the quarter are estimated to be in the range of $195 to $205 million which, at the midpoint, represents 16 percent growth from last year.

Analysts expect quarterly earnings of $1.17 per share on revenues of $198.30 million.

The company announced a 10 percent increase in quarterly cash dividend to $0.22 from $0.20.