Tyco International Reports Q4 EPS $0.92 vs $0.86 Est; Revenues $4.69B vs $4.51B Est

Tyco International Ltd. TYC today reported $0.83 in diluted earnings per share (EPS) from continuing operations for the fiscal fourth quarter of 2011 and diluted EPS from continuing operations before special items of $0.92 per share. Revenue in the quarter of $4.7 billion increased 14% versus the prior year excluding the Electrical & Metal Products business, which is now reported as an equity investment, while organic revenue grew 6%. Foreign currency contributed 5 percentage points to overall revenue growth. For full year 2011, the company reported $3.27 in diluted EPS from continuing operations and diluted EPS from continuing operations before special items of $3.24 per share. Revenue of $17.4 billion increased 9% excluding the Electrical & Metal Products business with organic revenue growth of 4%. Cash from operating activities was $2.4 billion. Free cash flow of $1.1 billion included net cash payments of $252 million primarily for restructuring and legacy tax matters. Commenting on Tyco's results, Chairman and Chief Executive Officer Ed Breen said: "We delivered a very solid quarter with strong organic revenue growth and continued operating margin improvement which helped drive a 24% increase in earnings per share. Throughout the year, we continued to increase our investment in R&D and technology while completing strategic acquisitions to strengthen our core security, fire and flow control businesses. With our strong base of recurring and service revenue, continuing order momentum in our late cycle businesses and our focus on restructuring and productivity initiatives, we are well-positioned for continued growth in 2012."