Tyco International Ltd. (NYSE: TYC) climbs on better Outlook
By BenzingaStaff3
November 10, 2009 9:00 AM
November 10, 2009 9:00 AM
Symbols: TYC
Tyco International Ltd. (NYSE: TYC) reported its third-quarter profit of $205 million and revenue fell to $4.42 billion. However, excluding one-time charges Tyco reported earnings from continuous operations of 44 cents a share versus 55 cents same period last year. Tyco also reported excellent operating results due to decrease in cost structure and an efficient working capital management.
Analysts expected the company to post $0.61 cents a share for the fourth quarter. Tyco International reported full year revenue of $17.2 billion and free cash flow of $1.22 billion.
Yesterday, TYC closed at $35.39. So far this year, the stock has gained over 63%.
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