Tyco announces fourth quarter financials

Tyco International has announced its financial results for the fourth quarter of the year. The company reported a revenue growth of seven per cent to $10.8 billion (5.72 billion pounds) in the fourth quarter of 2006.

This increase was reflected in diluted GAAP earnings per share of $0.63 for continued operations in the quarter, an increase from $0.41 in the same quarter last year.

Cash flow generated from operating activities in the fourth quarter reached $2.4 billion, with a free cash flow of $1.9 billion including $65 million payments for costs related to separation.

Ed Breen, chairman and chief executive office of Tyco, said: “This was a quarter of continued progress for Tyco, with solid organic growth, increased operating income and strong cash flow.”

Mr Breen added that Tyco was making steady progress in the path to separation and was on track for filing separation-related documents in January with the Securities and Exchange Commission.

Earlier this month, the board paid a regular cash dividend of $0.10 for each common share held since October 9th 2006, as announced in September this year.

In August, Tyco announced diluted GAAP earnings per share of $0.43 for the third quarter of 2006.