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Tyco International 4Q profit falls
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NEW YORK - Tyco International Inc., a diversified manufacturer, said Tuesday its profit fell 53 percent as sales fell and the Swiss company took restructuring charges.
Sales fell across all of its businesses, including fire and security services and electrical metal products.
Profit totaled $205 million, or 43 cents per share, for the three months ended Sept. 23, down from $434 million, or 91 cents per share, a year ago. Earnings from continuing operations excluding expecial items totaled 61 cents per share.
Revenue fell 16 percent to $4.42 billion from $5.28 billion last year.
Analysts polled by Thomson Reuters, on average, predicted a profit of 54 cents per share on revenue of $4.32 billion.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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