Tyco International Beats Earnings And Revenue Estimates (TYC)

Tyco International, Ltd. TYC on Tuesday morning released financial results that beat Wall Street expectations. Tyco International, Ltd reported that its 4th quarter net income rose to $266 million, or 53 cents per share, up from $205 million, or 43 cents per share, a year earlier. Excluding special items, the company earned 74 cents per share. Revenue rose to $4.49 billion, up from $4.32 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 66 cents per share, on revenue of $4.44 billion. Chairman and chief executive officer Ed Breen said, "Looking at the quarter, we are encouraged by strengthening business conditions, continued operating margin improvement and strong earnings and cash flow. Our integration of Broadview Security is proceeding on track and contributed to our growth in the quarter. We finished the year in sound financial condition with a strong balance sheet and the financial flexibility to invest in the future growth of our businesses." Tyco International, Ltd. (TYC) ended the previous trading session at $39.11 per share. Analysts covering the company's stock have a consensus price target of $44.67 per share. Read more from Benzinga's Company news.