Tyco International Q1 Profit Rises - Quick Facts

(RTTNews) - Swiss security products maker Tyco International Ltd. (TYC) reported that its first-quarter net income attributable to shareholders increased to $270 million or $0.57 per share, from $163 million or $0.34 per share in the same quarter last year.

Earnings per share from continuing operations before special items grew 15% to $0.47 from $0.41 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter rose to $2.65 billion from $2.60 billion in the prior year quarter. Ten analysts had consensus revenue estimate of $2.63 billion for the quarter.

Tyco Chief Executive Officer George Oliver said, "We are off to a great start to the fiscal year. Our results this quarter were driven by strong execution across all three segments, resulting in 15% growth in earnings per share before special items.... We are well positioned across our businesses and markets to continue to deliver strong results in 2014 and for the longer term."