News

PRINCETON, NJ – Tyco International Ltd. reported lower quarterly profit, but results beat expectations led partially by improving sales in its electronics segment. Net earnings fell 6.7% to $835 million in the company’s fiscal second quarter, from $895 million year-over-year. Revenue rose 7% to $10.8 billion.

The company expects third-quarter sales will be up 5.5 to 6.5%.  

Tyco, which plans to separate its health-care and electronics divisions by the end of June, said each of segments reported higher quarterly sales, but all had lower operating income and profit margins.