Tyco Q4 Profit Matches Estimates; Guides Q1 Adj. EPS Below Analysts' View

(RTTNews) - Tyco (TYC) reported $0.19 in U.S. GAAP earnings per share from continuing operations for the fourth quarter of 2015 and EPS from continuing operations before special items of $0.61. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.61 for the quarter. Analysts' estimates typically exclude special items. The company reported profit from continuing operations of $82 million compared to a loss of $75 million, a year ago.

Revenue was $2.50 billion in the quarter decreased 7% from the prior year, primarily due to a 7% negative impact of the stronger U.S. dollar against foreign currencies. Organic revenue declined 1% in the quarter. Acquisitions contributed 2 percentage points of growth, which was partially offset by the impact of divestitures. Analysts expected revenue of $2.55 billion for the quarter.

For the full year, the company reported U.S. GAAP EPS from continuing operations of $1.44 and EPS from continuing operations before special items of $2.24. Revenue of $9.9 billion decreased 4%. Organic revenue growth for the year of 1% and acquisitions growth of 2% were more than offset by a 6% negative impact related to changes in foreign currency exchange rates and a 1% impact related to divestitures.

The company expects first quarter EPS before special items of approximately $0.40, which includes an estimated $0.04 per share, or $20 million, of restructuring and repositioning charges. Analysts expect the company to report earnings per share of $0.48.