Tyco Earnings Up 63%; Firm Boosts Forecast
- Share via
Tyco International Ltd., the largest maker of electric connectors and security systems, said fiscal third-quarter profit rose 63%, lifted by a rebounding economy and lower costs.
Net income rose to $923 million, or 43 cents a share, from $566.5 million, or 27 cents, a year earlier. Sales climbed 11% to $10.41 billion.
Tyco raised its profit forecast for the year ending Sept. 30 to $1.61 to $1.63 a share. It had previously forecast profit of $1.52 to $1.58. Analysts had expected $1.59 for the year and 42 cents in the third quarter, according to a survey by Thomson First Call.
Shares of Bermuda-based Tyco, run from West Windsor, N.J., rose 17 cents to $31.41 on the NYSE.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
