For Tyco, Breaking up is good to do

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01/23/2008
The break-up last spring of Tyco International has yielded better than expected results, according to a preliminary financial resultss for the first quarter of fiscal 2008. Led by strong quarterly performance by ADT and Tyco's Flow Control unit, Tyco's revenue grew 12 percent, from $4,365,000,000 in Q1 2007 to $4,870,000,000 in Q1 2008. The company reported organic revenue growth of six percent, and a 55 percent increase in operating income. Tyco chief Ed Breen said in a statement that Tyco's "raising its full-year earnings-per-share guidance. This morning Rueters reported: Tyco shares were up $2.03 or 6 percent to $35.75 on the New York Stock Exchange, erasing all of their losses from the three prior trading sessions. The stock is still down about 11 percent since the end of 2007, about in line with the year-to-date losses in the Standard & Poor's 500 index. Tyco's investor conference call is scheduled for Super Tuesday, now called Tsunami Tuesday, Feb. 5.