The Wall Street Journal-20080206-Earnings Digest -- Conglomerates- Tyco International Ltd
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Earnings Digest -- Conglomerates: Tyco International Ltd
Full Text (112 words)Tyco International Ltd. posted a 54% drop in fiscal first-quarter profit on restructuring charges and as prior-year results included $1.25 a share in earnings from discontinued operations, but the company saw strong profit gains across most of its businesses. Shares of the Bermuda-based manufacturing and services company were down 30 cents to $40.30 in 4 p.m. New York Stock Exchange composite trading. Tyco's best-known and largest division, the ADT security monitoring business, saw revenue jump 7.3% in the quarter ended Dec. 28, to $2 billion, mainly on double-digit percentage growth in Asia and Latin America. Company executives said there is no sign that the prolonged U.S. housing downturn is affecting the business.