Littelfuse (LFUS) 8-K Condensed Consolidated Statement of Comprehensive Income

Exhibit 99.1

LITTELFUSE, INC.

Condensed Consolidated Statement of Comprehensive Income

Supplemental GAAP to Non-GAAP Reconciliation

(In thousands of USD, except per share data, unaudited)

	GAAP As Reported			Non-GAAP Adjustments				Non-GAAP
	March 31, 2018			March 31, 2018				March 31, 2018
Net sales	$	417,813						$	417,813
Cost of sales		268,190			(18,878	)	(a)		249,312
Gross profit		149,623			18,878				168,501
Selling, general and administrative expenses		77,514			(16,504	)	(b)		61,010
Research and development expenses		22,540			(1,607	)	(c)		20,933
Amortization of intangibles		11,998			(2,504	)	(d)		9,494
		112,052			(20,615	)			91,437
Operating income		37,571			39,493				77,064
Interest expense		5,423							5,423
Foreign exchange gain		(10,555	)		10,555				-
Other income, net		(1,943	)						(1,943	)
Income before income taxes		44,646			28,939				73,584
Income taxes		8,617			5,805				14,422
Net income	$	36,029		$	23,133			$	59,162
Net income per share:
Basic	$	1.48		$	0.95			$	2.43
Diluted	$	1.45		$	0.94			$	2.39
Weighted average shares outstanding:
Basic		24,339							24,339
Diluted		24,775							24,775
Comprehensive income	$	35,750						$	58,883

(a) Cost of sales included $17.9 million for purchase accounting inventory adjustments, $0.5 million for acquisition related stock-based compensation charges and $0.5 million of restructuring charges

(b) Selling, general and administrative included $11.7 million for acquisition related and integration costs, $2.4 million for acquisition related stock-based compensation charges, $2.1 million for IXYS change in control and $0.3 million of restructuring charges

(c) Research and development expenses included $1.6 million for acquisition related stock-based compensation charges

(d) Amoritization of intangibles included $2.5 million of IXYS backlog amortization

The Company believes that certain non-GAAP measures, when presented in conjunction with comparable GAAP measures, are useful because that information is an appropriate measure for evaluating the Company’s operating performance. Internally, the Company uses this non-GAAP information as an indicator of business performance, and evaluates management’s effectiveness with specific reference to this indicator. These measures should be considered in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.