Littelfuse To Exceed First Quarter Expectations Due to Strong Electronics Business
10 March 2000
Littelfuse To Exceed First Quarter Expectations Due to Strong Electronics Business
DES PLAINES, Ill.--March 10, 2000--Littelfuse, Inc. today announced that earnings for the first quarter of 2000 are expected to be at least 20% higher than the current analysts' consensus estimate of $0.34 per share."Growth in key end-use markets such as cellular phones, telecommunications and Internet access devices is creating strong demand for our electronic products in all regions of the world," said Howard B. Witt, Chairman, President and Chief Executive Officer. "The favorable sales and pricing trends that we experienced in the fourth quarter of 1999 have carried into 2000. As electronics demand continues to exceed our expectations, we are working to increase production capacity on key product lines."
"Net sales for the first quarter of 2000 are expected to be approximately 15% higher than in the fourth quarter of 1999," said Phil Franklin, Vice President, Treasurer and Chief Financial Officer. "Operating margins also continue to improve due to increasing unit volumes and the allocation of capacity-limited products to higher margin opportunities," added Franklin.
"All indicators point toward continued strength in the worldwide electronics markets through the remainder of the year," added Witt.
Littelfuse is a leading producer of electronic, power and automotive circuit protection devices. In addition to its Des Plaines world headquarters, Littelfuse has manufacturing facilities in England, Ireland, Switzerland, Mexico, Korea, China and the Philippines, as well as in Centralia and Arcola, Illinois. It also has sales, engineering and distribution facilities in the Netherlands, Singapore, Hong Kong, Japan, Brazil and Livonia, Michigan.
For more information, please visit Littelfuse's web site at www.littelfuse.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including, but not limited to, product demand and market acceptance risks, the effect of economic conditions, the impact of competitive products and pricing, product development and patent protection, commercialization and technological difficulties, capacity and supply constraints or difficulties, actual purchases under agreements, the effect of the company's accounting policies, and other risks which may be detailed in the company's Securities and Exchange Commission filings.