Tyco International Beats Estimates, Swings to a Positive Cash Flow (TYC)
01/28/2010-Tyco International (NYSE:TYC) reported fiscal Q1 EPS of $0.65, beating consensus estimates of $0.60.
Revenues for the quarter fell 4% year-over-year to $4.25 billion, narrowly topping consensus estimates of $4.21 billion.
Tyco Chairman and Chief Executive Officer Ed Breen said, "Our operating results for the first quarter reflect moderately higher revenue than expected as well as the benefits of our actions to reduce our cost structure in this challenging economic environment. Despite the soft economy, we continue to grow our service and recurring revenue which now represent 40% of total revenue."