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Tuesday, November 10, 2009

Tyco International Has Lower Quarterly Net Profit

By Mike Maynard

MarketWatch Pulse

WASHINGTON -- Tyco International Ltd. reported net income of $205 million, or 43 cents a share, for the fourth quarter ended Sept. 25, down from $434 million, or 91 cents, earned in the final three months of fiscal 2008. Quarterly revenue fell to $4.42 billion from the prior year's $5.28 billion. Tyco's earnings from continuing operations came to 44 cents a share for the latest quarter, down from 55 cents a year earlier. Excluding one-time items, earnings from continuing operations would have been 61 cents a share, down from 81 cents, the company said. The consensus forecast in a survey of analysts by FactSet Research had been for Tyco to post fourth-quarter earnings of 52 cents a share. Tyco recorded restructuring-related charges of $96 million before taxes against results for the latest quarter.

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