LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors.com has just released a free earnings report on Littelfuse, Inc. (NASDAQ: LFUS). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=LFUS. The Company reported its financial results on January 31, 2018, for the fourth quarter and for the full year ended December 30, 2017. Littelfuse's fourth quarter results marked a solid finish to the year 2017, which was the first full year of its updated strategy. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the fourth quarter of 2017, Littelfuse's total revenues reached $304.85 million, up 7.15% from $284.52 million in Q4 FY16. Of this, the organic revenue growth was 4%, excluding all revenues from acquisitions, divestitures, and foreign currency effects. The Company's revenue numbers exceeded analysts' consensus estimates of $298.3 million.
During Q4 FY17, Littelfuse's operating expenses were $75.84 million compared to $73.35 million in Q4 FY16. The Company's operating income advanced 23.89% to $50.78 million in Q4 FY17 from $40.99 million in Q4 FY16. The Company's operating margin was 16.7%, 2.3% higher than 14.4% in the same period of last year.
Littelfuse incurred a net loss of $10.82 million in Q4 FY17 compared to a net income of $27.25 million in Q4 FY16, reflecting a y-o-y decrease of 139.71%. The diluted net loss per share was $0.48 for the reported quarter, 140.34% lower than $1.19 in the year earlier comparable quarter.
Littelfuse's reported quarter results included the estimated one-time tax charge of $49 million from the enactment of the Tax Cuts and Jobs Act 2017 (TCJA) for deemed repatriation of unremitted earnings of foreign subsidiaries, related to the acquisition of IXYS Corp. The Company's diluted EPS, after adjusting for non-recurring items, increased 15.29% to $1.81 in Q4 FY17 from $1.57 in Q4 FY16, and was higher than analysts' estimates of $1.67.
For the year ending December 31, 2017, Littelfuse's total revenues were $1.22 billion, up 15.66% from $1.06 billion in FY16. This included an organic revenue growth of 7%, driven by a strong performance of the Electronics segment. The Company's operating income advanced 67.26% to $218.51 million y-o-y, while the operating margin improved 5.5% to 17.9% in FY17. Littelfuse's net income increased 14.39% to $119.52 million in FY17 from $104.49 million in FY16. The Company's diluted EPS rose 13.26% to $5.21 in FY17 from $4.60 in FY16. The Company's diluted EPS, excluding special items, was $7.74 for FY17, up 23.64% from $6.26 in FY16.
Segment Details
During Q4 2017, Littelfuse's Electronics segment's net revenues were $162.88 million, almost 4% up y-o-y. The segment's operating income was $33.36 million for the quarter ending December 31, 2017, compared to $34.84 million for the corresponding period of last year, reflecting a decrease of 4.25%. The Electronics segment's operating margin declined 1.8% to 20.5% in Q4 FY17 from 22.3% in Q4 FY16.
For Q4 FY17, Littelfuse's Automotive segment's net revenues advanced 9.07% to $115.13 million on a y-o-y basis, led by a growth across commercial vehicle products and passenger car fuse businesses. In this quarter, the segment's operating income increased 37.26% to $14.97 million from $10.91 million in Q4 FY16. The Automotive segment's operating margin improved 2.7% to 13.0% in Q4 FY17.
During Q4 FY17, Littelfuse's Industrial segment's net revenues surged 19.46% to $26.84 million on a y-o-y basis, mainly driven by the broadening of distribution channels and expansion outside North America. In this quarter, the segment generated an operating income of $4.57 million compared to an operating loss of $0.143 million in Q4 FY16. The Industrial segment's operating margin was 17% in the quarter under review compared to an operation loss margin of 0.6% in the year earlier same quarter.
Cash Matters
Littelfuse had cash and cash equivalents of $429.68 million as on December 31, 2017, 56.18% higher than $275.12 million as on December 31, 2016. During Q4 FY17, the Company's net cash flow from operating activities was $87.9 million, 9.74% lower than $80.1 million in Q4 FY16. The Company's free cash flow was $70.4 million for the reported quarter versus $68.4 million in the year earlier comparable quarter.
For the year ending December 31, 2017, the Company's net cash from operating activities was $269.17 million, which is an increase of 49.43% from $180.13 million for the same period in 2016. The Company's free cash flow was $203.3 million for FY17 compared to $133.9 million for the previous year. Littelfuse paid cash dividends of $31.67 million during 2017.
Outlook
For the first quarter of 2018, Littelfuse expects to generate revenues of $384.0 million to $396.0 million, up 37% on a y-o-y basis and 6% organically at midpoint. The Company anticipates its adjusted diluted earnings per share to be in the range of $1.73 to $1.87.
Littelfuse will pay a cash dividend on its common stock of $0.37 per share on March 08, 2018, to shareholders of record as of February 22, 2018.
Stock Performance Snapshot
February 14, 2018 - At Wednesday's closing bell, Littelfuse's stock rose 2.39%, ending the trading session at $203.27.
Volume traded for the day: 118.67 thousand shares.
Stock performance in the last three-month - up 4.11%; previous six-month period - up 11.45%; past twelve-month period - up 25.17%; and year-to-date - up 2.76%
After yesterday's close, Littelfuse's market cap was at $4.50 billion.
Price to Earnings (P/E) ratio was at 39.14.
The stock has a dividend yield of 0.73%.
The stock is part of the Services sector, categorized under the Electronics Wholesale industry. This sector was up 1.7% at the end of the session.
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