From AFX News Limited

DES PLAINES, IL -- Littelfuse Inc., the world's No. 1 fuse maker, said Tuesday its fourth-quarter profit slipped from last year due to hefty charges.

Net income for the quarter was $4.6 million, or 21 cents per share, down from $5.2 million, or 23 cents per share, for the fourth-quarter 2005. Excluding certain expenses and charges, earnings were 25 cents per share.

"Earnings for the fourth quarter of 2006 included $2.7 million of pre-tax restructuring charges related primarily to the previously announced move of the Texas wafer fabrication facility to China and a $1.4 million one-time benefit from a favorable tax law change in Germany ," Littelfuse said in a news release.

Revenue for the quarter was $127.8 million, up from $115.4 million in the year ago period. Sequentially, sales slipped 11 percent from the third quarter due to an inventory correction in the electronics markets.

Analysts polled by Thomson Financial expected the company to post earnings, on average, of 21 cents per share on $126.8 million in revenue.

Income for the full year 2006 was $23.8 million, or $1.06 per share, up from $17.7 million, or 78 cents per share, for 2005. Revenue for the year was $534.9 million, up from $467.1 million in the year ago period.

Shares of Littelfuse, which have traded between $26.42 and $38 over the last year, were up $2.54, or 7.7 percent, at $35.34 in morning trading on the NASDAQ.

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