UPDATE: TE Connectivity Q1 Profit Rises 17%
TE Connectivity (NYSE: TEL) reported a 17% gain in its first-quarter profit.
TE Connectivity announced its plans to lift its annual dividend to $1.00 per share.
Its quarterly net income from continuing operations climbed to $279 million, or $0.65 per share, from $238 million, or $0.55 per share, in the year-ago period.
Its revenue fell 1% to $3.13 billion.
TE Connectivity projects Q2 earnings of $0.68 to $0.72 per share, on revenue of $3.2 billion to $3.3 billion.
TE Connectivity shares closed at $39.06 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.