Tyco Flow Control Reports Fourth Quarter Earnings
Tuesday, November 10, 2009
Tyco Flow
Control revenue of $1.0 billion declined 15% in the quarter with an organic
revenue decline of 10%. Organic revenue declined 7% in the Valves business, 17%
in Water and 12% in Thermal Controls. Backlog of $1.7 billion increased 4% on a
quarter sequential basis (a 1% decline excluding the impact of foreign
currency).
Operating
income was $126 million in the quarter and the operating margin was 12.5%.
Special items of $15 million resulted from restructuring activities. Full year
revenue of $3.85 billion decreased 13% primarily due to changes in foreign
currency with an organic revenue decline of 3%. Operating income was $518
million and the operating margin was 13.5%. More…
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