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Tyco International Provides Update on First Quarter 2010 Performance
Date:1/18/2010

SCHAFFHAUSEN, Switzerland, Jan. 18 /PRNewswire-FirstCall/ -- Tyco International (NYSE: TYC) announced today that it now expects to report diluted earnings per share from continuing operations before special items for the first quarter of fiscal 2010 in the range of $0.63 to $0.65 per share or $0.61 to $0.63 per share on a GAAP basis. This compares to the company's previous guidance for diluted earnings per share from continuing operations before special items of $0.48 to $0.50 per share.  As previously announced, Tyco will report its financial results for the fiscal first quarter of 2010 before the NYSE opens on Thursday, January 28, 2010.

Preliminary results for the company included revenue of $4.25 billion in the quarter, which exceeded previous guidance of $4.1 billion. In addition, operating income before special items in the quarter was better than anticipated and was driven in part by improved operating results at each of the company's business segments.  Corporate expense and the company's tax rate were both below previous guidance due to the timing of certain items.  On a preliminary basis, higher operating segment income and lower corporate expense contributed approximately $0.10 to the improvement, with the remaining $0.05 attributable to the impact of lower taxes.

"We were pleased with our operating performance and margins in the first quarter," said Ed Breen, Tyco Chairman and Chief Executive Officer.  "Although our first quarter was be
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SOURCE Tyco International Ltd.
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