Littelfuse (LFUS) Q4 2003 earnings summary

Executive summary

• FY2003 net sales were $339.410M versus $283.267M in FY2002; electronic products accounted for the largest product-area sales total at $206.523M.

• Backlog reached $55.4M at Jan. 3, 2004, compared with $29.2M a year earlier; substantially all orders were scheduled for 2004 delivery.

• Sales were diversified across more than 10,000 customers, with no customer exceeding 10% of sales in the last three fiscal years.

Financial highlights

• FY2003 net sales: $339.410M; FY2002: $283.267M; FY2001: $272.149M.

• FY2003 product-area sales: Electronic $206.523M; Automotive $98.327M; Electrical $34.560M.

• Product design and development spending was $8.7M in FY2003, $8.3M in FY2002 and $8.9M in FY2001.

• License royalties were $409,000 in FY2003, $369,000 in FY2002 and $390,000 in FY2001.

Outlook and guidance

• Backlog at Jan. 3, 2004 was $55.4M versus $29.2M at Dec. 28, 2002; substantially all orders were scheduled for delivery in 2004.

• Fuse content per vehicle was expected to continue growing as automobiles add electronic features; fuses also served electric and hybrid vehicles.