Bitmain AntMiner U1 1.6GH/s - USB Bitcoin ASIC Miner I am looking at getting a Bitmain AntMiner U1 1.6GH/s - USB Bitcoin ASIC Miner to mine LTC and doing a few calculations.

I have used a few LTC profit calculators:


https://bitmakler.net/Litecoin___mining
http://www.coinwarz.com/calculators/litecoin-mining-calculator
https://www.litecoinpool.org/calc


They all seem to vary between about $40 - $70 a day? Is this correct? That seems quite a lot, for what it is.
You can't mine Litecoin with a Bitcoin miner. Bitcoin uses sha256 hashing, Litecoin uses Scrypt, which is about 1000x slower even when implemented in an ASIC, which is why you are calculating ridiculous profit numbers.