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Tyco International
TYC reported a drop in its first-quarter income.
Tyco's quarterly net income declined to $163 million, or $0.34 per share, versus $322 million, or $0.69 per share, in the year-earlier period. Its profit from continuing operations surged 62% to $159 million, or $0.34 per share. Its adjusted income came in at $0.40 per share.
Its revenue climbed 5% to $2.6 billion. However, analysts were expecting earnings of $0.40 per share on sales of $2.57 billion.
Tyco shares closed at $30.70 yesterday.
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