PEMBROKE, BERMUDA– Tyco Electronics Ltd. has released its fourth-quarter and full-year results. Net sales were reported at $3.7 billion for the fourth quarter, marking a 6% increase over 2007 figures. The organic sales growth for the quarter was 2%.
 
For the quarter, GAAP diluted earnings per share (EPS) from continuing operations were $0.23. Adjusted EPS from continuing operations were $0.69, a 19% increase over 2007 results.
 
Full-year net sales were reported at $14.8 billion, a 14% increase over 2007. Driven by growth in all of Tyco’s segments, organic sales growth was 8%.
 
GAAP diluted EPS from continuing operations were $3.28, compared to a $0.36 loss in 2007. Adjusted EPS from continuing operations was reported at $2.67. This marks a 25% increase over last year’s figure of $2.14.
 
The fourth-quarter results met the company’s expectations and marked a solid first year of progress. The sharp decline in demand in many of its key end markets, such as the European automotive market, has affected the first-quarter outlook for 2009. “Tyco is taking actions to accelerate our restructuring efforts and to reduce overhead,” explains Tom Lynch, CEO.