Manufacturing conglomerate Tyco International Ltd. said Monday that it swung to a profit in the fourth quarter from a year-ago loss, but the company guided below consensus estimates for the first quarter of fiscal 2005.
Quarterly earnings rose to $454 million, or 22 cents per share, from a loss of $297 million, or 15 cents per share, a year ago. Excluding charges of 23 cents for debt retirement, restructuring and divestitures, Tyco earned 45 cents per share in the latest quarter.
Analysts surveyed by Thomson First Call were looking for the company to post earnings of 43 cents per share on sales of $10.45 billion in the latest period.
Revenue increased 13 percent to $10.44 billion from $9.27 billion last year.
For fiscal 2005, Tyco said it expects to report earnings per share from continuing operations of $1.88 to $1.98 and first-quarter earnings from continuing operations of 40 cents to 42 cents per share.
Analysts are expecting profit of 44 cents and $1.96 per share for the first quarter and full year, respectively.