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Tyco Secures Solid Profit Beat
Security-systems company Tyco (TYC Quote) reported a soaring fiscal first-quarter profit Tuesday.
Excluding discontinued operations, the Bermuda-based company made $369 million, or 74 cents a share, more than doubling from year-ago earnings of $163 million, or 49 cents a share, excluding items. Revenue spiked 11.6% year over year to a slightly-better-than-expected $4.87 billion.
That bottom line, meanwhile, crushed the average analyst estimate, which had called for 57 cents a share, according to Thomson Financial. ...
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