PEMBROKE, BERMUDA – Tyco Electronics has adjusted its third-quarter guidance for the better.
 
For the quarter ending June 26, the company forecasts sales of $2.45 billion to $2.55 billion, compared to the previous $2.35 billion to $2.45 billion. Tyco cites a stronger dollar, project revenue from its Undersea-Telecommunications segment and an increase in electronic component sales for the improvement. 
 
In the fall, revenue fell sharply as the global economic slump affected consumer demand. Tyco has also cut 20,000 workers, 20% of its global workforce.
 
GAAP income from operations is expected to be $25 million to $55 million, including restructuring charges of nearly $60 million. Adjusted operating income is forecast at $85 million to $115 million.
 
Results for the quarter will be released on July 29. The Wireless Systems segment was not included in the outlook, it will be reported as a discontinued operation beginning with the third-quarter earnings statement. 

• Prev
• Next