Littelfuse Inc. (Des Plaines, IL) reported sales and earnings for the fourth quarter of 2002 and the year. Sales for the fourth quarter of 2002 were $69.3 million, a 14 percent increase from sales of $60.9 million in the fourth quarter of 2001.
Sales increased 10 percent compared to the prior-year quarter. Diluted earnings per share were $0.12 in the fourth quarter of 2002 compared to $0.01 in the fourth quarter of 2001 before restructuring charges. Including restructuring charges, the company reported a loss of $0.14 per share for the fourth quarter of 2001.
For the full year, sales were $283.3 million, a four percent increase from sales of $272.1 million in 2001. Diluted earnings per share for 2002 increased to $0.44 compared to $0.19 for the prior year. Excluding restructuring charges, diluted earnings per share for 2002 increased to $0.55 compared $0.37 in 2001.
For the fourth quarter of 2002, worldwide sales of electronic products increased 20 percent, automotive sales increased 11 percent and electrical sales decreased three percent as compared to the prior year. Excluding the effects of currency, fourth-quarter sales increased eight percent overall, with electronics up 11 percent, automotive up eight percent and electrical down three percent.
