PEMBROKE, BERMUDA – Tyco reported its Electronics Division had sales of $3.02 billion for its fiscal first quarter 2006, up 5% from last year. The division, one of three that split off from Tyco later this year, saw organic growth of 8%. 
Operating income fell 7% to $384 million, hurt by rising raw material costs.

While Tyco management is predicting an aggressive recovery in electronics, at least one analyst is skeptical.

In a research note last night, Deutsche Bank Securities forecast Tyco Electronics will generate second quarter revenues of $3.1 billion, up 6% year-on-year.

 

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