Littelfuse, Inc. (LFUS) has reported 30.59 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $27.24 million, or $1.19 a share in the quarter, compared with $20.86 million, or $0.92 a share for the same period last year. On an adjusted basis, earnings per share were at $1.57 for the quarter compared with $1.14 in the same period last year.

Revenue during the quarter grew 29.31 percent to $284.52 million from $220.02 million in the previous year period. Gross margin for the quarter expanded 260 basis points over the previous year period to 40.19 percent. Total expenses were 85.59 percent of quarterly revenues, down from 86.43 percent for the same period last year. This has led to an improvement of 84 basis points in operating margin to 14.41 percent.

Operating income for the quarter was $40.99 million, compared with $29.85 million in the previous year period.

However, the adjusted operating income for the quarter stood at $45.60 million compared to $35.30 million in the prior year period. At the same time, adjusted operating margin contracted 2 basis points in the quarter to 16.03 percent from 16.04 percent in the last year period.
 

"We're pleased with our strong fourth quarter finish, with both sales and earnings exceeding the midpoint of our guidance," said Dave Heinzmann, chief executive officer. "Our results were led by strength across our electronics segment, along with solid performance in both our automotive fuse and sensor businesses. We continued to see end market weaknesses across our industrial segment and our commercial vehicle business in our automotive segment, impacting our overall growth for the quarter. Despite these challenges, we finished the quarter with strong earnings and cash flow growth."

For the first-quarter, Littelfuse projects revenue to be in the range of $278 million to $288 million. The company forecasts diluted earnings per share to be in the range of $1.56 to $1.70.

The company has spent $511.24 million cash to meet investing activities during the year as against cash outgo of $44.16 million in the last year. It has incurred net capital expenditure of $45.98 million on net basis during the year, up 4.70 percent or $2.06 million from year ago.

Cash flow from financing activities was $284.20 million for the year as against cash outgo of $67.66 million in the last year period.

Cash and cash equivalents stood at $275.12 million as on Dec. 31, 2016, down 16.32 percent or $53.66 million from $328.79 million on Jan. 02, 2016.
 

Working capital increases
Littelfuse, Inc. has recorded an increase in the working capital over the last year. It stood at $424.54 million as at Dec. 31, 2016, up 13.63 percent or $50.94 million from $373.60 million on Jan. 02, 2016. Current ratio was at 3.26 as on Dec. 31, 2016, up from 2.78 on Jan. 02, 2016.