TYC » Topics » OUTLOOK

This excerpt taken from the TYC 8-K filed Aug 7, 2007.

OUTLOOK

For the fourth quarter of 2007, Tyco expects to achieve revenue growth of 6 to 7% (organic revenue growth of approximately 4%) and an operating margin before special items of 9.0 to 9.5%.  The revenue and operating margin outlook excludes Infrastructure Services that will be reported as a discontinued operation in the fourth quarter. Please see the disclosures at the end of this press release for additional information.

This excerpt taken from the TYC 8-K filed May 8, 2007.

OUTLOOK

For the third quarter of 2007, Tyco expects to achieve revenue growth of 5.5 to 6.5 percent (organic revenue growth of 3.5 to 4.5 percent) and an operating margin before special items of 12.5 to 13.0 percent.  Please see the disclosures at the end of this press release for additional information.

This excerpt taken from the TYC 8-K filed Feb 6, 2007.

OUTLOOK

Breen added, “We feel good about our first quarter operational performance and the global economic environment overall.  After a period of strong growth, we are seeing some slowing in certain electronics markets, in particular the computer and communication infrastructure equipment markets, which we believe will strengthen as we move further into the year.  In addition, we expect metals spreads in Engineered Products & Services to continue to be weaker than last year in the second quarter, with improvement in the second half of the year.”

For the second fiscal quarter of 2007, Tyco expects to achieve revenue growth of 6 to 7 percent (organic revenue growth of 3.5 to 4.5 percent) and an operating margin excluding special items of 12.5 to 13.0 percent.  Please see the disclosures at the end of this press release for additional information.

This excerpt taken from the TYC 8-K filed Nov 15, 2006.

OUTLOOK

For the first quarter of 2007, the company expects to achieve EPS from continuing operations, excluding special items and charges related to the announced restructuring, of $0.42 to $0.44 per share.  Please see the disclosures at the end of this press release for additional information.

This excerpt taken from the TYC 8-K filed Aug 3, 2006.

OUTLOOK

For the fourth quarter of 2006, the company expects to achieve EPS from continuing operations, excluding special items, of $0.47 to $0.49 per share.  For the full year, this would result in EPS from continuing operations, excluding special items, of $1.80 to $1.82 per share.

The company continues to expect that 2006 free cash flow, excluding the cash impact of previously-disclosed legal items and separation costs, will exceed income from continuing operations excluding special items.

This excerpt taken from the TYC 8-K filed May 4, 2006.

OUTLOOK

For the third quarter of 2006, the company expects to achieve EPS from continuing operations, excluding special items, of $0.46 to $0.48 per share, driven by sequential improvement in Healthcare and Fire & Security.

 

The company expects full-year EPS from continuing operations, excluding special items, of $1.80 to $1.85 per share.  The company further expects that 2006 free cash flow, excluding the cash impact of previously-disclosed legal items and separation costs, will exceed net income excluding special items. 

 

EPS from continuing operations, excluding special items, is a non-GAAP financial measure and is described below.

 

This excerpt taken from the TYC 8-K filed Feb 2, 2006.

OUTLOOK

 

For the second quarter of 2006, the company expects to achieve EPS from continuing operations excluding special items of $0.40 to $0.42 per share.  Tyco expects similar top-line growth and operating margins compared with the first quarter due to continued costs related to voluntary product recalls and regulatory compliance efforts in Healthcare and continued lower contracting margins in Fire & Security. 

 

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The company continues to expect full-year EPS from continuing operations excluding special items of $1.85 to $1.92 per share.  The company further expects that 2006 free cash flow, excluding the cash impact of previously disclosed legal items, will exceed net income excluding special items.  In the second quarter, the company expects to make cash payments of approximately $450 million for previously disclosed legal matters. 

 

EPS from continuing operations excluding special items is a non-GAAP financial measure and is described below.                                         

 

This excerpt taken from the TYC 8-K filed Nov 16, 2005.

OUTLOOK

 

In fiscal 2006, the company expects EPS from continuing operations excluding special items to increase by approximately 10 percent over full-year 2005 results.  The company further expects that 2006 free cash flow, excluding the cash impact of previously disclosed legal items, will exceed net income excluding special items.

 

In the first quarter of fiscal 2006, Tyco will adopt Statement of Financial Accounting Standards (SFAS) No. 123R, which requires compensation costs related to share-based payments to be recognized in the financial statements.  This is expected to negatively impact earnings by approximately $0.06 to $0.07 per share for the full year.  The Plastics & Adhesives segment is reported as a discontinued operation and is excluded from 2006 guidance.

 

For the first quarter, the company expects to achieve EPS from continuing operations excluding special items of $0.40 to $0.42.  This guidance includes restructuring charges of approximately $0.01 per share to close several high-cost Electronics manufacturing plants as well as approximately $0.02 per share charge from the adoption of SFAS No. 123R discussed above.

 

EPS from continuing operations excluding special items is a non-GAAP financial measure and is described below.

 

This excerpt taken from the TYC 8-K filed Aug 2, 2005.

OUTLOOK

 

For the fourth quarter of 2005, the company expects to achieve EPS from continuing operations excluding special items of $0.45 to $0.47.  On a quarter-sequential basis, EPS from continuing operations excluding special items is expected to be lower as a result of lower operating income in Engineered Products & Services primarily due to dynamics in the steel market, lower sequential revenue and the resulting impact on operating income in Electronics, and a modestly higher tax rate for the company.   For the full-year, this would result in EPS from continuing operations excluding special items of $1.85 to $1.87.  The company expects full-year cash from operating activities of $6.0 to $6.4 billion and free cash flow of $4.2 to $4.6 billion.

 

With respect to fiscal year 2006, the company expects EPS before special items to increase by approximately 10 percent over full-year 2005 results.  This outlook reflects a continuation of growth trends the company has been experiencing in the Electronics and Fire & Security segments and the impact this has on operating margins.  The company further expects that 2006 free cash flow will exceed net income excluding special items.

 

EPS from continuing operations excluding special items and net debt are non-GAAP financial measures and are described below.

 

This excerpt taken from the TYC 8-K filed May 3, 2005.

OUTLOOK

        For the third quarter of 2005, the company expects to achieve EPS from continuing operations excluding charges, of $0.47 to $0.49. The company expects full-year EPS from continuing operations excluding charges, of $1.88 to $1.93. The high end of the previous EPS guidance range has been reduced to reflect the impact of increased commodity costs across the company, anticipated weakness in European automotive electronics, and continued sales and marketing investment in Fire & Security.

        The company expects full-year cash from operating activities of approximately $6.4 billion and free cash flow of approximately $4.6 billion. As stated earlier, Tyco changed the definition of free cash flow to exclude the impact of cash dividend payments and voluntary pension contributions made during the year. The cash flow guidance has been reduced from the previous guidance primarily due to higher-than-anticipated working capital requirements.

        "We are pleased with our year-to-date progress, and despite the commodity pressures we are facing, we still feel good about Tyco's ability to deliver strong year-over-year earnings improvements for 2005," commented Breen.

        EPS from continuing operations excluding charges, and free cash flow, are non-GAAP financial measures and are described below.

This excerpt taken from the TYC 8-K filed Feb 1, 2005.

OUTLOOK

        For the second quarter of 2005, the company expects to achieve EPS from continuing operations of $0.45 to $0.47. The company continues to expect full-year EPS from continuing operations of $1.88 to $1.98. This EPS outlook excludes charges related to divestitures or early retirement of debt. The company continues to expect full-year cash from operating activities of approximately $7 billion and free cash flow in excess of $4.5 billion. Both cash flow measures are before any voluntary pension contributions. As previously announced, prior free cash flow guidance of $5.0+ billion was reduced by approximately $525 million to reflect additional dividend payments planned for fiscal 2005.

        "During the quarter we saw improved order rates, and strengthening in our end markets," commented Ed Breen. "We also continue to gain traction in our operating and growth initiatives, and as a result we are looking forward to a solid year in 2005."

        EPS from continuing, operations excluding charges and cash flow before voluntary pension contributions, are non-GAAP measures and are described below.

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