Income from continuing operations before special charges was $326 million, or 67 cents a share, in the second quarter ended on March 28, almost double the year-earlier $167 million, or 33 cents per share.
NEW YORK (Reuters) - Tyco International Ltd <TYC.N> reported higher-than-expected quarterly earnings from continuing operations and raised its full-year forecast on Thursday, as four of its five divisions reported double-digit profit increases.
Income from continuing operations before special charges was $326 million, or 67 cents a share, in the second quarter ended on March 28, almost double the year-earlier $167 million, or 33 cents per share.
Analysts on average were expecting 58 cents per share, according to Reuters Estimates.
Revenue rose 8 percent to $4.87 billion, compared with Wall Street forecasts for sales of $4.98 billion.
!ADVERTISEMENT!Sales rose 4 percent at Tyco's ADT division, its biggest, as strength in Asia and Latin America offset weakness in Europe and North America. Operating earnings rose 14 percent.
The flow control business, which makes valves and thermal controls, posted a 17 percent sales increase as profit increased 40 percent.
Sales and profits were also higher in Tyco's fire segment and the electrical and metal products division, but the safety products division had lower operating income.
Tyco raised its estimate of full-year earnings by 5 cents a share to a range of $2.65 to $2.75, which compares with Wall Street estimates of $2.71.
Net earnings were $280 million, or 57 cents per share, compared with $835 million, or $1.69 per share, a year earlier, when results included divisions that are no longer part of Tyco.
(Reporting by Nick Zieminski; Editing by Lisa Von Ahn)
