TE Connectivity Q1 Adj. EPS Tops Estimates - Quick Facts

(RTTNews) - TE Connectivity Ltd. (TEL), a maker of electronic components, posted a rise in its first-quarter net income attributable to the company to $472 million, or $1.14 per share, from $353 million, or $0.84 per share, last year.

Quarterly adjusted earnings per share from continuing operations were $0.98, compared with $0.82 a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.90 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $3.47 billion, up 4 percent year-on-year and up 3 percent organically. Ten analysts were looking for sales of $3.51 billion for the period.

Looking ahead to the fiscal second quarter 2015, the firm sees net sales of $3.55 billion - $3.65 billion and adjusted EPS of $0.98 - $1.02. GAAP EPS are expected to be $0.89 to $0.93, including acquisition related charges of $0.05, and restructuring and other charges of $0.04.

For the full year, the company expects net sales of $14.45 billion - $14.85 billion and adjusted EPS of $4.05 - $4.35. GAAP EPS are expected to be $4.04 - $4.34, including acquisition related charges of $0.22, restructuring and other charges of $0.10, and income from tax related items of $0.31. The outlook includes foreign exchange headwinds, reducing sales by $900 million and adjusted EPS by $0.35.

Analysts project second-quarter earnings of $1.02 per share on revenues of $3.68 billion, and annual earnings of $4.19 per share on revenues of $14.95 billion.