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Tyco International(TYC Quote) swung to fiscal third-quarter loss as it recorded a hefty charge to settle a lawsuit, but its adjusted results beat Wall Street's expectation.
For the quarter ended June 29, the Bermuda-based conglomerate posted a loss of $3.55 billion, or $7.18 a share, compared with a year-earlier profit of $868 million, or $1.68 a share.
The results included charges of $3.31 billion, or $6.68 a share, including a $2.88 billion charge tied to the settlement of a securities class-action suit filed against the company and its former CEO, the imprisoned Dennis Kozlowski. ...
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