Littelfuse Inc. reported a net loss for the fourth fiscal quarter of 2001 of $2.8 million or 13 cents per share on sales of $60.9 million, down from net earnings of $6.7 million or 31 cents per share on sales of $82.8 million in the fourth quarter of 2000.
The fourth quarter loss included restructuring charges of $4.6 million related to the company closing one of its U.S. plants, workforce reductions in Korea, and the write-down of manufacturing equipment.
The Des Plaines, Ill., supplier of circuit protection components saw a 40% decrease in sales in electronic fuses and 6% and 11% decreases for automotive and electrical fuses, respectively, in the fourth quarter compared to the prior year quarter.
For the 2001 fiscal year, Littelfuse reported sales of $272.1 million, down 27% from $371.9 million in 2000. Net income was $4.1 million or 19 cents per share, compared to $37.3 million or $1.69 per share in 2000.