Tyco International Reports Fourth Quarter Earnings From Continuing Operations Before Special Items of $0.61 Per Share and GAAP Earnings of $0.44...($119 (82%) $17 $385 (96%) ...),Health

Revenue of $326 million declined 45% in the quarter with an organic revenue decline of 41%. The decline was primarily due to lower selling prices for both steel and copper products.

Operating income was $12 million in the quarter and included $9 million of special items for restructuring activities. Operating income before special items of $21 million decreased $98 million, primarily due to lower spreads for both steel and copper products. The operating margin before special items was 6.4%.

Full year revenue of $1.4 billion decreased 39% with an organic revenue decline of 35%. Electrical and Metal Products incurred an operating loss of $940 million which included special items of $957 million. Operating income excluding special items was $17 million.

Safety Products

                           Q4 2009  Q4 2008 % Change FY 2009 FY 2008 % Change
                           -------  ------- -------- ------- ------- --------
    Revenue                   $382     $507     (25%)  $1,552  $1,934  (20%)
     Operating Income          $46      $65     (29%)   ($789)   $284     -
     Operating Margin         12.0%    12.8%                -    14.7%
     Special Items            ($14)    ($34)          ($1,018)   ($73)
     Operating Income Before
      Special Items            $60      $99     (39%)    $229    $357  (36%)
     Operating Margin Before
      Special Items           15.7%    19.5%             14.8%   18.5%

Revenue of $382 million declined 25% in the quarter. Organic revenue declined 22% due to lower volume across the Fire Suppression, Electronic Security and Life Safety businesses resulting from weaker demand in end markets.

Operating income was $46 million in the quarter and the operating margin was 12.0%. Special items of $14
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