Circuit protection products maker Littelfuse Inc. raised its forecasts for the first quarter, saying demand from the electronics and auto industries has been better than it expected. Littelfuse now expects a profit of 67 cents to 71 cents per share and revenue of $144 million in the first quarter. Its previous estimates were net income of 50 cents to 62 cents per share and $130 million to $138 million in revenue. Analysts expected profit of 60 cents per share and $136.1 million in revenue, according to an analyst survey by Thomson Reuters. The company also said its Startco unit is performing at the high end of its earlier estimates. In the first quarter of 2009, the company lost 36 cents per share and posted $84.4 million in revenue. The new forecast implies revenue will rise about 71 percent from last year. Littelfuse is scheduled to report its first-quarter results on May 6. Its shares rose $1.31, or 3.3 percent, to $40.50 in midday trading. They earlier set a new year high of $41.35, eclipsing a prior peak of $40.18 set March 25.
Additional Resources: (1) Circuit Protection Components: World Market Outlook: 2009-2014 ISBN # 1-893211-84-3 (2009) (2) Circuit Protection Components: World Markets, Technologies & Opportunites: 2008-2013 ISBN # 1-893211-22-3 (2008)