UPDATE: Tyco Posts Q4 Profit, Raises Dividend
Tyco International (NYSE: TYC) posted a profit in the fourth quarter.
Tyco swung to a quarterly profit of $166 million, or $0.35 per share, versus a year-ago loss of $419 million, or $0.91 per share. On an adjusted basis, its earnings climbed to $0.52 per share from $0.34 per share.
Its revenue rose 1% to $2.76 billion from $2.73 billion. However, analysts were projecting earnings of $0.52 per share on revenue of $2.73 billion.
Tyco's board lifted annual dividend by 13% to 72 cents versus 64 cents.
Tyco shares closed at $36.73 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.