Tyco Tops, but Offers Dim View

SCHAFFHAUSEN, Switzerland (TheStreet) -- Tyco International(TYC Quote), the manufacturing conglomerate, squeaked past Wall Street targets with its fiscal fourth quarter results -- but offered something of a profit warning in its conference call with analysts Tuesday.

On the call, the company told analysts and investors to expect per-share earnings in its fiscal first quarter of between 48 cents and 50 cents, Reuters reported Tuesday. That's below the consensus Wall Street target of 56 cents. All numbers exclude one-time items.

In morning trading Tuesday, Tyco shares were changing hands at $34.50, down 2.5%, on heavy volume.

As for the just-ended quarter, Tyco reported an adjusted EPS (which also excludes one-time charges) of 61 cents. Analysts were, on average, expecting a per-share profit of 54 cents.

Including the charges, Tyco earned $205 million, or 43 cents a share, down more than half from the $434 million, or 91 cents a share, it earned in the year-ago period. Revenue, meanwhile, came to $4.4 billion, down 16% from a year ago, and nearly flat with analysts' targets of $4.32 billion.