Littelfuse Inc. said it expects to post first-quarter profit of at least 41 cents per share, more than 20% above the current 34 cents per share average estimate of analysts polled by First Call Corp., Boston.
The circuit-protection device maker said explosive sales of end products in the wireless, Internet, and telecom markets is boosting sales in "all regions of the world," according to Howard Witt, chairman, president, and chief executive of the company.
The Des Plaines, Ill., company said sales in this quarter are about 15% greater than in the previous quarter. The company's fourth-quarter 1999 sales rose 30% from the 1998 comparable quarter.
Littelfuse's shares jumped more than 20% on the news to $39.50, up $6.75. The company's shares have more than doubled from $16.50, the 52-week low.
"All indicators point toward continued strength in the worldwide electronics markets through the remainder of the year," Witt said. "As electronics demand continues to exceed our expectations, we are working to increase production capacity on key product lines."
The company is scheduled to report its first-quarter earnings on April 19.