said it remains comfortable with consensus earnings estimates for the second quarter and full year, thanks to the fact that product demand is meeting forecasts.
For the second quarter, 13 analysts surveyed by
First Call/Thomson Financial
expect the diversified manufacturing and services company to earn 61 cents a share. Fourteen analysts estimate Tyco will earn $2.75 a share for the full year. In the year-ago second quarter, the company, which is based in Exeter, N.H., earned 50 cents a share. Tyco earned $2.18 a share for 2000.
"At the end of the first quarter, we discussed potential uncertainty in the end-markets of our electronics business, but product demand, while softening in some areas and accelerating in others, has continued to meet our forecasts for this quarter and the fiscal year," the company said.
Shares of Tyco lost 22 cents, or 0.4%, to $53.98 in recent
New York Stock Exchange