Tyco International’s Profit Plunges on Break-up Costs; Adjusted Profit Beats, but Revenue Misses (TYC)

By Dividend.com Staff,

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Diversified manufacturer Tyco International Ltd. ( TYC ) on Tuesday posted mixed fiscal third quarter earnings results, as costs associated with its plans to split into three companies hampered its bottom line.

The Swiss maker of security, and fire alarm, and water control systems reported fiscal third quarter net income of $242 million, or 51 cents per share, compared with $359 million, or 76 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.01 per share.

Revenue rose 4% from last year to $4.46 billion.

On average, Wall Street analysts expected a smaller profit of 93 cents per share, albeit on higher revenue of $4.53 billion.

Tyco shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of Tyco International ( TYC ) have a 2.52% dividend yield, based on last night's closing stock price of $53.80. The stock has technical support in the $48-$50 price area. If the shares can firm up, we see overhead resistance around the $57-$58 price levels.

Tyco International Ltd. ( TYC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: TYC

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