TE Connectivity Ltd. Q1 Income Drops 11%

(RTTNews) - TE Connectivity Ltd. (TEL) released earnings for first quarter that retreated compared to the same period last year.

The company said its bottom line declined to $328 million, or $0.84 per share. This was down from $368 million, or $0.89 per share, in last year's first quarter.

Analysts had expected the company to earn $0.76 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 7.2% to $2.83 billion. This was down from $3.05 billion last year.

TE Connectivity Ltd. earnings at a glance:

-Earnings (Q1): $328 Mln. vs. $368 Mln. last year. -Earnings Decline (Y-o-Y): -10.9% -EPS (Q1): $0.84 vs. $0.89 last year. -EPS Decline (Y-o-Y): -5.6% -Analysts Estimate: $0.76 -Revenue (Q1): $2.83 Bln vs. $3.05 Bln last year. -Revenue Change (Y-o-Y): -7.2%

-Guidance: Next quarter EPS guidance: $0.84 - $0.92 Next quarter revenue guidance: $2.88 - $3.08 Bln Full year EPS guidance: $3.80 - $4.20 Full year revenue guidance: $11.9 - $12.7 Bln