Why Shares of Littelfuse Slumped Today
Shares of Littelfuse (NASDAQ: LFUS), a provider of circuit protection products, slumped on Wednesday following the company's third-quarter report. Littelfuse came up short of analyst estimates for both revenue and earnings, and its fourth-quarter guidance called for sluggish growth. The stock was down about 11% at 11 a.m. EDT.
Littelfuse reported third-quarter revenue of $317.9 million, up 13% year over year but about $1 million below the average analyst estimate. Organic revenue, which backs out the effects of acquisitions, divestitures, and currency, grew by 9% year over year.
Image source: Littelfuse.
Source: Fool.com