General Stock Ideas

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Tyco (2-07) Posts Broad Based Q1 Profit Gains
Tuesday February 6, 8:44 am ET

>>> Tyco International, the world's #1 maker of electronic connectors and security systems, said its Q1 2007 earnings from continuing operations was $0.37/share ($742 million), down from $0.39 ($803m) in Q1 2006. Excluding breakup and other one-time costs, its $0.45/share was slightly higher than consensus estimates of $0.44. Revenues were up 7.6% to $10.3b. All the company's four main segments -- electronics, fire and safety, healthcare and engineered products -- posted higher profits and revenues. In January Tyco formally filed to split the company into three. Today it said it would spin off its electronics and health-care units early in the second quarter; the dismantling should cost it $1.2-1.6 billion. Tyco said it bought back 22 million shares (1%) in the quarter, for about $659 million. It gave revenue growth guidance of 6% to 7% in Q2. Shares are trading up $0.29 (0.9%) at $33.50 this morning in the pre-market.<<<