TYCO International Ltd. Earnings Cheat Sheet: Beats Forecasts

S&P 500 (NYSE:SPY) component TYCO International Ltd. (NYSE:TYC) reported net income above Wall Street’s expectations for the third quarter. Tyco International Ltd. provides security products and services, fire protection and detection products and services, valves and controls and other industrial products.

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TYCO International Earnings Cheat Sheet for the Third Quarter

Results: Net income for the diversified machinery company rose to $359 million (76 cents per share) vs. $254 million (51 cents per share) in the same quarter a year earlier. This marks a rise of 41.3% from the year earlier quarter.

Revenue: Rose 0.6% to $4.3 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: TYC reported adjusted net income of 85 cents per share. By that measure, the company beat the mean estimate of 72 cents per share. It beat the average revenue estimate of $4.21 billion.

Quoting Management: “We delivered a strong quarter operationally with improved top-line growth and operating margin expansion which drove an 18% year-over-year increase in earnings per share,” said Tyco Chairman and Chief Executive Officer Ed Breen. “Our solid financial performance and strong balance sheet provides us with the financial flexibility to invest in our businesses, strengthen our core security, fire and flow control platforms and return excess cash to shareholders.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 1.6% and in the first quarter, the figure rose more than twofold.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 5 cents in the second quarter, by 7 cents in the first quarter, and by 8 cents in the fourth quarter of the last fiscal year.

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 4.2% to $3.99 billion in the second quarter from the year earlier.

Competitors to Watch: Honeywell Intl. Inc. (NYSE:HON), 3M Company (NYSE:MMM), General Electric Company (NYSE:GE), China Security & Surveillance Tech. Inc. (NYSE:CSR), Checkpoint Systems, Inc. (NYSE:CKP), Magal Security Systems Ltd. (NASDAQ:MAGS), Mace Security Intl., Inc. (MACE), Textron Inc. (NYSE:TXT), and Napco Security Systems (NASDAQ:NSSC).

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(Source: Xignite Financials)