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LITTLEFUSE REPORTS RECORD SALES AND EARNINGS FOR SECOND QUARTER AND FIRST HALF

 DES PLAINES, Ill., July 20 /PRNewswire/ -- Littlefuse, Inc., (NASDAQ: LFUS) the world's technological leader in advanced circuit protection devices for the electronic, electrical power and automotive industries, today reported record sales and earnings for its second quarter ended June 30 and for the first half of 1993.
 Net income increased to $2.1 million or 18 cents per share in the second quarter, compared to $1.1 million or 11 cents per share a year ago. Net income increased more than 90 percent and net income per share increased more than 60 percent. Net sales were $41.3 million increasing 6 percent compared to $39.1 million in last year's second quarter, surpassing both that previous record and the all-time high set in this year's first quarter.
 The second-quarter gains increased net income for the first six months to $3.7 million or 31 cents per share, compared with a year-ago loss of $1.5 million or 16 cents per share resulting from amortization of the one-time $4.9 million "fresh start" inventory write-up in last year's first quarter. Net sales for the six months increased 6 percent to $81 million compared with $76.2 million in last year's first half.
 Howard B. Witt, chairman, president and chief executive officer, said all of the company's global market areas and product segments contributed to the record second-quarter results, led by a 24 percent gain over year-ago volume in the Far East and Pacific Rim, principally electronics, and an 11 percent gain for the POWR-GARD(TM) power fuse products group, centered in North America. The company's innovative new products are being well received in all markets.
 Witt said electronic sales strengthened during the second quarter and were up 7 percent worldwide. Overall North American sales were up 4 percent and European Community sales increased 3 percent, despite generally weak business conditions in that area. Automotive fuse sales were up more than the corporate average, Witt said, but lower sales of less profitable relays and overall tighter auto industry inventory controls resulted in a volume gain for all automotive products worldwide of 2 percent, against a very strong second quarter last year.
 James F. Brace, vice president, treasurer and chief financial officer, said, "The second quarter gross profit of $16.2 million was up 13.8 percent from the year-ago level and amounted to 39.3 percent of sales. Operating income was 12.6 percent of sales, and cash flow from operations of $8.4 million was primarily used to prepay another $5 million of long-term debt during the quarter."
 Having retired $31 million of its inherited $125 million debt over the past 18 months, the company last week announced plans to refinance the remaining debt in a move to increase flexibility, further strengthen in balance sheet, and reduce interest expense. The First National Bank of Chicago is serving as lead bank and agent for the $110 million package of new financing, expected to be completed next month. Duff & Phelps has given the private placement portion of the package a BBB investment grade and the new credit agreements will be on an unsecured basis.
 In addition to strong operating performance, Brace said the second- quarter debt and interest expense reductions resulted from better working capital control as a result of improved inventory turns and fewer days receivables outstanding and a favorable cash-versus-expense tax situation. The second quarter's earnings before interest, taxes, depreciation and amortization (EBITDA) rose more rapidly than sales, he noted, in keeping with the company's strategic focus on improving profitability via cost control.
 Littlefuse is the leading producer of electronic and automotive fuses worldwide, and is extending its technological leadership to innovative new fuses for the power equipment industry. In addition to its Des Plaines world headquarters, the company has manufacturing facilities in England, Switzerland and Mexico, as well as in Centralia, Arcola and Watseka, Ill. It also has sales, engineering and distribution facilities in the Netherlands, Singapore and Farmington Hills, Mich., near Detroit.
 LITTLEFUSE, INC.
 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
 (In thousands, except per share data)
 (unaudited)
 For three months ended For six months ended
 June 30, June 30,
 1993 1992 1993 1992
 Net sales $41,325 $39,101 $81,012 $76,245
 Cost of sales-Note 25,083 24,826 49,826 53,742
 Gross profit 16,242 14,275 31,186 22,503
 Selling, administrative
 and general expenses 9,288 8,377 17,842 15,951
 Amortization of
 intangibles 1,715 1,768 3,431 3,536
 Operating Income 5,239 4,130 9,913 3,016
 Interest expense 1,564 1,929 3,225 4,101
 Other income, net 230 243 383 404
 Income (loss) before
 income taxes 3,90 ? 2,444 7,071 (681)
 Income taxes 1,810 1,310 3,360 871
 Net income (loss) 2,095 1,134 3,711 (1,552)
 Net income (loss)
 per share .18 .11 .31 (.16)
 NOTE: Cost of sales for the three months and six months ended June 30, 1992 includes $198K and $5,110K amortization, respectively, of the one time "fresh start" inventory write-up.
 -0- 7/20/93
 /CONTACT: Jim Brace, VP, treasurer and CFO, or Art Skwerski, director of communications, both of Littlefuse, Inc., 708-824-1188/
 (LFUS)


CO: Littlefuse, Inc. ST: Illinois IN: SU: ERN

PS -- NY069 -- 6844 07/20/93 12:50 EDT
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