UPDATE: Tyco Q4 Earnings Meet Estimates

Tyco International

reported in-line earnings for the fourth quarter. The Schaffhausen, Switzerland-based company posted a quarterly loss of $89 million, or $0.20 per share, versus a year-ago profit of $166 million, or $0.36 per share. The company's loss per share from continuing operations came in at $0.17 per share. Excluding special items, Tyco's earnings from continuing operations climbed to $0.56 per share from $0.47 per share. The latest quarter results included $465 million in charges related to legacy asbestos liabilities. Its revenue surged to $2.7 billion from $2.61 billion. However, analysts were expecting earnings of $0.56 per share on revenue of $2.72 billion. The company's revenue from North American installation and services business rose 1.6% to $1 billion, while installation and services revenue from the rest of the world climbed 2.4% to $1 billion. Global products revenue surged 8.6% to $681 million in the quarter. Tyco repurchased 23 million shares for $1.0 billion during the quarter. Tyco Chief Executive Officer George Oliver"Overall said, I am very pleased with our performance this past year -- we delivered strong results, have taken strategic action with our portfolio management with focused acquisitions and divestitures, and have returned excess cash to shareholders, all of which resulted in a 20% increase in earnings per share for the year." Tyco shares fell 0.07% to close at $43.36 yesterday.