Littelfuse Inc. (Des Plaines, IL) announced revised sales and earnings expectations for the fourth quarter of 2004. Sales for the fourth quarter are expected to range between $120 million and $122 million. Earnings are expected to be between $0.20 and $0.24 per diluted share before a $2.4 million non-cash charge to write off a portion of the company's investment in Semitron Industries, which it acquired in 2002. The company recently announced that it would be moving production out of the Semitron facilities in Swindon, UK.
"The weakening bookings trend, which began in the third quarter, has continued into the fourth quarter. As a result, our electronic shipments declined considerably in November and December. Particular areas of weakness are electronic distribution in North America and digital consumer and telecom markets in Asia," said Chief Operating Officer Gordon Hunter.
