Rochester, NY 7/30/2009 10:38:06 PM
TYC - Tyco Reports Lesser Quarterly Profit
TYCO INTL LTD SWZ
TYCO INTL LTD SWZ, TYC
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Tyco International reported a sharply lower fiscal third-quarter profit on Thursday with declines in its fire, security and electrical-and-metal products businesses. For the recent quarter, the Switzerland-based conglomerate said its net income fell 39% to $287 million, or 60 cents a share, from $476 million, or 98 cents a share, in the same period a year ago.
Quarterly revenue fell 19% to $4.2 billion from $5.2 billion in the same period a year ago. Income from continuing operations fell to 58 cents a share versus 88 cents a share a year earlier. Analysts polled by FactSet Research were looking for earnings of 43 cents a share, on average. The company did not give a look ahead. Shares of Tyco closed Wednesday at $28.80.
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