Tyco Flow Control Sees Gains in Fourth Quarter

Tyco Flow Control revenue increased 11% in the quarter with organic revenue growth of 6.5% led by continued growth in the Valves business, which grew 15% organically. This was offset by a 6% organic revenue decline in the Water business, primarily due to reduced water pipeline project activity in Australia.

Operating income was $152 million in the quarter and the operating margin was 12.8%. Operating income before special items increased 19% to $161 million and the operating margin before special items improved by 100 basis points to 13.6%. The increase in the operating income and margin before special items was led by the Valves and Thermal Controls businesses. More...