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TYCO ELECTRONICS REPORTS FISCAL Q4 & FULL-YEAR 2008 RESULTS

Hamilton, Bermuda - 6 November, 2008 - Tyco Electronics Ltd. (NYSE: TEL; BSX: TEL) today reported results for the fiscal fourth quarter and full-year ended 26 September, 2008.  The company reported net sales of $3.7 billion for the fiscal fourth quarter, an increase of 6 percent over the prior-year period.  Excluding currency effects, organic sales growth was 2 percent.  GAAP diluted earnings per share (EPS) from continuing operations were $0.23 for the quarter, compared to $0.48 in the prior-year period.  Included in EPS from continuing operations were $0.46 of net charges - primarily related to $0.29 per share of restructuring costs and $0.23 per share of charges related to asset impairments, partially offset by $0.06 per share of income related to tax and other items.  This compares to $0.10 per share of charges in the prior-year quarter.  Adjusted EPS from continuing operations were $0.69 in the quarter, an increase of 19 percent over last year's adjusted EPS of $0.58.

Fourth Quarter Highlights

  • Net Sales Increased 6 Percent to $3.7 Billion; Organic Sales Growth of 2 Percent
  • Earnings Per Share (EPS) From Continuing Operations of $0.23 on a GAAP Basis; Adjusted EPS of $0.69, an Increase of 19 Percent Over Prior Year

Full-Year Highlights

  • Net Sales Increased 14 Percent to $14.8 Billion; Organic Sales Growth of 8 Percent
  • EPS From Continuing Operations of $3.28 on a GAAP Basis; Adjusted EPS of $2.67, an Increase of 25 Percent Over Prior Year

First Quarter Outlook

  • Company Expects a Sales Decline of 16 to 19 Percent With Organic Sales Decline of 12 to 15 Percent
  • EPS From Continuing Operations Expected to be $0.19 to $0.23; Adjusted EPS Expected to be in Range of $0.24 to $0.28, Which Includes Approximately $0.10 of Currency Losses

More detailed information on Tyco Electronics and this release can be found at www.tycoelectronics.com.

 

CONFERENCE CALL AND WEBCAST

 

The company will hold a conference call for investors today beginning at 8:30 a.m. EST.  The call can be accessed in three ways:

  • By telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the telephone dial-in number in the United States is (800) 398-9367.  The telephone dial-in number for participants outside the United States is (612) 338-1917.
 

An audio replay of the conference call will be available beginning at 10:30 a.m. on 6 November, 2008 and ending at 11:59 p.m. on 13 November, 2008.  The dial-in number for participants in the United States is (800) 475-6701.  For participants outside the United States, the replay dial-in number is (320) 365-3844. The replay access code for all callers is 962724.