Littelfuse raises 1st-quarter revenue forecast
Littelfuse boosts 1st-quarter revenue forecast as sales increase across its business
CHICAGO (AP) -- Littelfuse is boosting its first-quarter revenue forecast, benefiting from higher sales across its business.
The circuit protection products provider said Wednesday that it now anticipates revenue of about $171 million. Its prior guidance was for revenue in a range of $158 million to $168 million.
Analysts polled by FactSet expect revenue of $164 million.
The Chicago company expects first-quarter earnings of 63 cents to 66 cents per share, which includes an approximately $10.7 million charge to write off its remaining equity investment and loan balance for Shock Technologies, which is in Chapter 7 bankruptcy proceedings.
Littelfuse Inc. said its prior outlook of 75 cents to 88 cents per share did not include the charge.
Wall Street expects earnings of 83 cents per share, which does not account for the charge.
The company is expected to report its first-quarter financial results on April 30.
Shares of Littelfuse finished at $63.14 on Tuesday. They have traded in a 52-week range of $47.75 and $68.99.
