Tyco quarterly profit rises 10 percent

By IBTimes Staff Reporter | January 28 2010 8:32 AM

Industrial conglomerate Tyco International Ltd reported a 10 percent increase in quarterly net income amid improved margins at its biggest unit, ADT security services.

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Net earnings rose to $303 million, or 63 cents per share, in the first quarter ended December 25 from $277 million, or 58 cents per share, a year earlier.

Earnings from continuing operations were 65 cents share. Revenue slipped 4 percent to $4.25 billion.

On January 18, the company announced its quarterly revenue and said earnings from continuing operations would be in a range of 63 cents to 65 cents per share.

Tyco this month announced its largest acquisition since its 2007 breakup with its plan to buy Brink's Home Security Holdings, which operates as Broadview Security , for $1.9 billion to combine it with ADT.

(Reporting by Nick Zieminski; Editing by Lisa Von Ahn)