Tyco International Ltd. (TYC) reported that fourth quarter net income plunged to $205 million or $0.43 per share from $434 million or $0.91 per share in the prior year.
Income from continuing operations for the quarter was $207 million or $0.44 per share, compared to $264 million or $0.55 per share a year ago.
Income from continuing operations before special items decreased 25% to $291 million or $0.61 per share from $387 million or $0.81 per share in the previous year.
On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.54 for the quarter. Analysts' estimate typically exclude special items.
Quarterly revenue declined 16% to $4.42 billion from $5.28 billion last year. Eight analysts estimated revenues of $4.32 billion for the quarter.
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