Littelfuse Inc. (LFUS) announced that on a GAAP basis, it now expects first quarter 2013 earnings to be in the range of $0.63 to $0.66 per share, compared to the previous guidance of $0.75 to $0.88 per share.
The revised earnings guidance included a non-cash charge of about $10.7 million pre-tax or $0.29 per share after tax to write off the remaining equity investment and loan balance for Shocking Technologies, which is in Chapter 7 bankruptcy. But, the previous earnings guidance did not include this charge.
The company has raised its first quarter sales guidance to about $171 million from the previous guidance of $158 million to $168 million.
Analysts polled by Thomson Reuters expect the company to report earnings of $0.83 per share on revenues of $164.00 million for the first-quarter. Analysts' estimates typically exclude special items.
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