Tyco expects earnings at high end of prior range

AP News
Posted: Dec 08, 2009 5:45 PM

Tyco Electronics Ltd. said Tuesday that fiscal first-quarter earnings from continuing operations would be at the high end of the range it gave last month because of strength in its electronic components business.

The company said last month it expected to report earnings of 25 cents to 29 cents per share, adjusted earnings from continuing operations of 35 cents to 39 cents per share, and sales of $2.7 billion to $2.8 billion for the quarter that ends in December.

Analysts, who usually take adjusted earnings that exclude one-time items, expected 38 cents per share on sales of $2.76 billion, according to Thomson Reuters.

Tyco makes electronic components for industries including automotive, electronics, telecommunications and defense.

Tyco shares fell 77 cents, or 3.2 percent, to $23.06 in regular trading, then rose 34 cents to $23.40 in extended trading after the new guidance was announced.