The Switzerland-based security company posted earnings of 47 cents a share for its fiscal first quarter, beating the Capital IQ Consensus Estimate of 45 cents a share by 2 cents. Revenue increased 1.8% from the year-ago quarter to $2.65 billion, compared to the analyst estimates of $2.63 billion.
Tyco said organic revenue grew 1.5% in the quarter, with 2% growth in both services and product sales.
"We are off to a great start to the fiscal year. Our results this quarter were driven by strong execution across all three segments, resulting in 15% growth in earnings per share before special items," Tyco CEO George Oliver said in the press release.
TheStreet Ratings team rates TYCO INTERNATIONAL LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TYCO INTERNATIONAL LTD (TYC) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."