Tyco Electronics Boosts Expectations
June 15, 2009 by Mark Ellis
Filed under Business
Most people remember Tyco’s name in relation to the scandalous exploits of Tyco International’s CEO Dennis Kozlowski and CFO Mark Schwartz, but fortunately for Tyco Electronics, the future is looking bright. The stronger dollar, along with increased sales and higher revenue, has led to a more optimistic fiscal third-quarter outlook.
Tyco Electronics’ shares are up 19 percent this year so far, jumping 7.2 percent in after-hours trading today to $20.65. The news probably comes as a surprise and a relief to Tyco investors and executives who, earlier in the year, expressed concern over a general lack of demand in its products and electronics in general.
The company will officially report its fiscal third-quarter report on July 29, but until then Tyco continues to substantially increase its expected earnings in such a way to reflect its optimistic outlook for the third quarter.
Image: Flickr
TYCO has always had a distinguished name in the electronic field. So it is
with no suprise that the TYCO company is doing very well. The products that
they put out is of a very good quality. So to hear that they are going strong
and passing expectations is not suprising news.