Littelfuse (NASDAQ: LFUS) reported Q3 EPS of $2.11, $0.01 worse than the analyst estimate of $2.12. Revenue for the quarter came in at $317.9 million versus the consensus estimate of $318.98 million.

Third Quarter 2017 Highlights

• Net sales were $317.9 million, up 13% versus the prior year period. Organic revenue growth was 9%, excluding revenue from acquisitions closed in the past 12 months, the e-house business divestiture and foreign currency effects.
• Growth by segment versus the prior year period:
  • Electronics sales increased 19% (up 11% organically)
  • Automotive sales increased 7% (up 5% organically)
  • Industrial sales increased 7% (up 15% organically)
• GAAP diluted EPS was $1.87; Adjusted EPS of $2.11 increased 13% over last year
• The GAAP effective tax rate was 22.9% and adjusted effective tax rate was 22.4%
• Cash flow from operations was a record $87.7 million, up 36% from the prior year period
• The electronics segment book-to-bill ratio for the third quarter was 1.00
• On August 28, the company announced it had entered into a definitive agreement to acquire all of the outstanding shares of IXYS Corporation (NASDAQ: IXYS) in a cash and stock transaction. The transaction represented an enterprise value of approximately $655 million at announcement. (1)
• In October, the company amended and expanded its unsecured credit facility to $900 million

Fourth Quarter 2017 Outlook

“While we are seeing a typical seasonal slowdown in order rates, end market demand remains strong across electronics,” continued Heinzmann. “We expect continued top line growth in the fourth quarter across all of our businesses, with normal sequential declines in both sales and margins for the quarter.”

For the fourth quarter of 2017:

• Net sales are expected to be in the range of $292 to $304 million, up 5% on a reported basis and up 2% organically at the midpoint, versus the prior year quarter
• Adjusted diluted earnings per share are expected to be in the range of $1.58 to $1.72

For the full year, the company expects an adjusted effective tax rate in the range of 18% – 19%.

GUIDANCE:

Littelfuse sees Q4 2017 EPS of $1.58-$1.72, versus the consensus of $1.85. Littelfuse sees Q4 2017 revenue of $292-304 million, versus the consensus of $3.11 million.

For earnings history and earnings-related data on Littelfuse (LFUS) click here.