Tyco Electronics Ltd. (TEL) reported that its fourth-quarter net earnings were $93 million or $0.20 per share, compared to $202 million or $0.43 per share in the same quarter last year.
GAAP earnings per share from continuing operations were $0.18 for the quarter, compared to $0.19 in the prior-year period. Adjusted earnings per share from continuing operations were $0.30 in the quarter, compared to $0.65 in the year ago quarter.
Net sales for the quarter were $2.70 billion, down from $3.58 billion in the prior year quarter.
For the first quarter of fiscal 2010, the company expects sales of $2.7 to $2.8 billion, which is flat to a 4 percent increase sequentially. The company expects income from operations of $190 to $220 million, which includes restructuring and other charges of approximately $60 million. Adjusted operating income is expected to be $250 to $280 million. GAAP EPS from continuing operations is expected to be $0.25 to $0.29, including restructuring and other charges of approximately $0.10 per share. Adjusted EPS from continuing operations are expected to be $0.35 to $0.39, compared to adjusted EPS of $0.21 in the prior-year period.
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