Littelfuse Sees Q1 GAAP EPS of $0.96 to $0.98

Littelfuse, Inc. LFUS earlier today announced revised guidance for the first quarter of 2011 as follows: Sales for the first quarter of 2011 are now expected to be approximately $167 million compared to previous guidance of $156 to $165 million. On a GAAP basis, the company now expects first quarter 2011 earnings of $0.96 to $0.98 per diluted share. This includes a $3.7 million (approximately $0.12 per diluted share) non-cash charge related to the step-up of inventory from the recent Cole Hersee acquisition in accordance with purchase accounting rules. The previous guidance, which called for earnings in the range of $0.83 to $0.97 per diluted share, did not include this charge.