Tyco Electronics Beats Estimates on Sales Strength, Guides Above Estimates (TEL)
1/27/2010-Tyco Electronics (NYSE:TEL) reported fiscal Q1 EPS of $0.47, topping consensus estimates of $0.39.
Sales in the quarter rose 7% year-over-year to $2.9 billion, topping consensus estimates of $2.8 billion.
For the second fiscal quarter, the company expects EPS of $0.49 to $0.54 (vs. consensus estimates of $0.39) on sales of $2.85 billion to $2.95 billion (vs. consensus estimates of $2.75 billion).
Tyco Electronics Chief Executive Officer Tom Lynch, "In the second quarter, we expect the trends we experienced in the first quarter to continue, and overall sales to be similar to first quarter levels. We anticipate that our adjusted operating margin will approach 12 percent in the second quarter."