Tyco Reports First Quarter 2013 Earnings From Continuing Operations Before Special Items Of $0.40 Per Share And GAAP Earnings Of $0.34 Per Share -- The Company reports first quarter revenue of $2.6 billion, with 5% revenue growth and 1% organic growth -- Diluted EPS from continuing operations before special items increases 11% over normalized first quarter 2012 results* -- Tyco's Board of Directors proposes for shareholder approval a 7% annual dividend increase -- The Board of Directors increases authorization for share repurchases to $750 million PR Newswire SCHAFFHAUSEN, Switzerland, Jan. 29, 2013 SCHAFFHAUSEN, Switzerland, Jan. 29, 2013 /PRNewswire/ -- (Income and EPS amounts are attributable to Tyco common shareholders) ($ millions, except per-share amounts) Q1 2013 Q1 2012 % Change Revenue $2,600 $2,478 5% Segment Operating Income $296 $277 7% Operating Income $235 $186 26% Income from Continuing Operations $159 $98 62% Diluted EPS from Continuing Operations $0.34 $0.21 62% Special Items $(0.06) $(0.05) Segment Operating Income Before Special Items $318 $310 3% Income from Continuing Ops Before Special Items $191 $123 55% Diluted EPS from Continuing Ops Before Special $0.40 $0.26 54% Items Tyco (NYSE: TYC) today reported $0.34 in GAAP diluted earnings per share (EPS) from continuing operations for the fiscal first quarter of 2013 and diluted EPS from continuing operations before special items of $0.40. Revenue in the quarter increased 5% versus the prior year to $2.6 billion including a 3% benefit from acquisitions. Organic revenue grew 1% in the quarter with 6% growth in products, 2% growth in service and a 3% decline in installation revenue. * Normalized first quarter 2012 results reflect pro forma adjustments to corporate and interest expense to reflect the impact of the separation, and include dis-synergy costs associated with the separation of the Company's North American security operations, also as a result of the separation. See Non-GAAP reconciliations. Tyco Chief Executive Officer George Oliver said, "We're off to a great start as the new Tyco, integrating our fire and security businesses and executing on our growth strategy. We had another very good quarter, with a 5% increase in revenue, driven partly by our acquisition strategy, and an 11% increase in earnings per share before special items on a normalized basis. I am especially pleased with the traction we are getting from our productivity and sourcing initiatives, and the positive impact we are seeing from our increased investments in research anddevelopment. Overall, our performance in the first quarter is a solid beginning to fiscal 2013." Organic revenue, free cash flow, operating income, segment operating income, and diluted and normalized EPS from continuing operations before special items are non-GAAP financial measures and are described below. For a reconciliation of these non-GAAP measures, see the attached tables. Additional schedules as well as first quarter review slides can be found at www.tyco.com on the Investor Relations portion of Tyco's website. SEGMENT RESULTS The financial results presented in the tables below are in accordance with GAAP unless otherwise indicated. All dollar amounts are pre-tax and stated in millions. All comparisons are to the fiscal first quarter of 2012 unless otherwise indicated. North America Systems Installation & Services Q1 2013 Q1 2012 % Change Revenue $976 $962 1.5% Operating Income $108 $86 26% Operation Margin 11.1% 8.9% Special Items ($12) ($22) Operating Income Before Special Items $120 $108 11% Operating Margin Before Special Items 12.3% 11.2% Revenue of $976 million increased 1.5% in the quarter. Service revenue increased 1% and installation revenue was flat with the prior year, for total organic revenue growth of 1%. Backlog of $2.4 billion declined 3% on a quarter sequential basis, excluding the impact of foreign currency, in line with expectations and the previously announced project selectivity in commercial security. Operating income for the quarter was $108 million and the operating margin was 11.1%. Special items of $12 million consisted primarily of separation charges. Operating income before special items was $120 million and the operating margin was 12.3%. The 110 basis point improvement in operating margin before special items was driven by a higher mix of service revenue, improved execution in installation, and accelerated productivity benefits. These benefits more than offset dis-synergy costs associated with the separation of the ADT residential security business from our commercial security business, Tyco Integrated Security. Rest of World Systems Installation & Services Q1 2013 Q1 2012 % Change Revenue $1,090 $1,056 3% Operating Income $114 $110 4% Operation Margin 10.5% 10.4% Special Items ($7) ($8) Operating Income Before Special Items $121 $118 3% Operating Margin Before Special Items 11.1% 11.2% Revenue of $1.1 billion increased 3% in the quarter, primarily driven by acquisitions. Organic revenue was flat with 3% growth in service and a 5% decline in installation. Backlog of $2.6 billion increased 3% on a quarter sequential basis, excluding the impact of foreign currency. Operating income for the quarter was $114 million and the operating margin was 10.5%. Special items of $7 million consisted primarily of restructuring charges. Operating income before special items was $121 million, and the operating margin was 11.1%. The benefit of higher margin service revenue was offset by growth investments. Global Products Q1 2013 Q1 2012 % Change Revenue $534 $460 16% Operating Income $74 $81 (9)% Operation Margin 13.9% 17.6% Special Items ($3) ($3) Operating Income Before Special Items $77 $84 (8)% Operating Margin Before Special Items 14.4% 18.3% Revenue of $534 million increased 16% in the quarter, including a 9% benefit due to acquisitions. Organic revenue grew 6% with growth across all three product platforms. Operating income for the quarter was $74 million and the operating margin was 13.9%. Special items of $3 million consisted primarily of restructuring charges. Operating income before special items was $77 million and the operating margin was 14.4%. The year-over-year margin decrease was primarily driven by a double digitincrease in research and development and sales and marketing investments. Additionally, the operating margin was impacted by a $6 million environmental remediation charge and lower sales of higher margin products due to the timing of shipments. We estimate that these two items impacted operating margin by approximately 200 basis points. OTHER ITEMS oCash from operating activities was negative $39 million and free cash flow was negative $133 million, which included a cash outflow of $103 million primarily related to separation and restructuring activities. Adjusted free cash outflow for the quarter was $30 million. The Company completed the quarter with $501 million in cash and cash equivalents. oCorporate expense before special items was $58 million for the quarter. oThe tax rate before special items was 17.4% for the quarter. oOn December 21, 2012 the Company announced that its Board of Directors recommended shareholders approve an annual dividend increase of approximately 7% from $0.60 to $0.64 per share at the Company's annual general meeting of shareholders, to be held on March 6, 2013. oThe Company purchased 1.8 million shares for $50 million during the quarter, and the Company's Board of Directors approved an additional $600 million in repurchase authority to the existing $150 million. ABOUT TYCO Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in annual revenue, Tyco has over 70,000 employees in more than 1,000 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visitthe new www.tyco.com. CONFERENCE CALL AND WEBCAST Management will discuss the company's first quarter results for 2013 during a conference call and webcast today beginning at 9:00 a.m. ET. Today's conference call for investors can be accessed in the following ways: oAt Tyco's website: http://investors.tyco.com. oBy telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the telephone dial-in number in the United States is (800) 857-9797. The telephone dial-in number for participants outside the United States is (517) 308-9262, passcode "Tyco". oAn audio replay of the conference call will be available at 11:00 a.m. EST on January 29, 2013 and ending at 11:59 p.m. EST on February 5, 2013. The replay dial-in number for participants in the United States is (800) 568-4850. For participants outside the United States, the replay dial-in number is (203) 369-3813, passcode 3151. oA webcast replay of the conference call will be available on the "Presentations & Webcasts" section of Tyco's website: http://investors.tyco.com. NON-GAAP MEASURES Organic revenue, free cash flow (outflow) (FCF), and income from continuing operations, earnings per share (EPS) from continuing operations, operating income and segment operating income, and normalized EPS, in each case "before special items," are non-GAAP measures and should not be considered replacements for GAAP results. Organic revenue is a useful measure used by the company to measure the underlying results and trends in the business. The difference between reported net revenue (the most comparable GAAP measure) and organic revenue (the non-GAAP measure) consists of the impact from foreign currency, acquisitions and divestitures, and other changes that either do not reflect the underlying results and trends of the Company's businesses or are not completely under management's control. There are limitations associated with organic revenue, such as the fact that, as presented herein, the metric may not be comparable to similarly titled measures reported by other companies. These limitations are best addressed by using organic revenue in combination with the GAAP numbers. Organic revenue may be used as a component in the company's incentive compensation plans. FCF is a useful measure of the company's cash that permits management and investors to gain insight into the number that management employs to measure cash that is free from any significant existing obligation and is available to service debt and make investments. The difference between Cash Flows from Operating Activities (the most comparable GAAP measure) and FCF (the non-GAAP measure) consists mainly of significant cash flows that the company believes are useful to identify. It, or a measure that is based on it, may be used as a component in the company's incentive compensation plans. The difference reflects the impact from: onet capital expenditures, odealer generated accounts and bulk accounts purchased, ocash paid for purchase accounting and holdback liabilities, and ovoluntary pension contributions. Capital expenditures and dealer generated and bulk accounts purchased are subtracted because they represent long-term investments that are required for normal business activities. Cash paid for purchase accounting and holdback liabilities is subtracted because these cash outflows are not available for general corporate uses. Voluntary pension contributions are added because this activity is driven by economic financing decisions rather than operating activity. In addition, from time to time the company may present adjusted free cash flow, which is free cash flow, adjusted to exclude the cash impact of the special items highlighted below. This number provides information to investors regarding the cash impact of certain items management believes are useful to identify, as described below. The limitation associated with using these cash flow metrics is that they adjust for cash items that are ultimately within management's and the Board of Directors' discretion to direct and therefore may imply that there is less or more cash that is available for the company's programs than the most comparable GAAP measure. Furthermore, these non-GAAP metrics may not be comparable to similarly titled measures reported by other companies. These limitations are best addressed by using FCF in combination with the GAAP cash flow numbers. The company has presented its income and EPS from continuing operations, operating income and segment operating income before special items. Special items include charges and gains related to divestitures, acquisitions, restructurings, impairments, certain changes to accounting methodologies, legacy legal and tax charges and other income or charges that may mask the underlying operating results and/or business trends of the company or business segment, as applicable. The company utilizes these measures to assess overall operating performance and segment level core operating performance, as well as to provide insight to management in evaluating overall and segment operating plan execution and underlying market conditions. The Company also presents its effective tax rate as adjusted for special items for consistency, and from time to time presents corporate expense excluding special items. One or more of these measures may be used as components in the company's incentive compensation plans. These measures are useful for investors because they may permit more meaningful comparisons of the company's underlying operating results and business trends between periods. The difference between income and EPS from continuing operations before special items and income and EPS from continuing operations (the most comparable GAAP measures) consists of the impact of the special items noted above on the applicable GAAP measure. The limitation of these measures is that they exclude the impact (which may be material) of items that increase or decrease the company's reported GAAP metrics, and these non-GAAP metrics may not be comparable to similarly titled measures reported by other companies. These limitations are best addressed by using the non-GAAP measures in combination with the most comparable GAAP measures in order to better understand the amounts, character and impact of any increase or decrease on reported results. The company provides general corporate services to its segments and those costs are reported in the "Corporate and Other" segment. This segment's operating income (loss) is presented as "Corporate Expense." Segment Operating Income represents Tyco's operating income excluding the Corporate and Other segment, and reflects the results of Tyco's three operating segments. Segment Operating Income before special items reflects GAAP operating income adjusted for the special items noted in the paragraph above. In order to provide more meaningful comparison of fiscal 2013 results to fiscal 2012 results, normalized EPS before special items is presented. Normalized EPS adjusts fiscal 2012 GAAP results by replacing the GAAP interest and corporate expenses reported for fiscal 2012 (on a pre-separation basis) with the interest and corporate expenses estimated to be incurred in fiscal 2013 (on a post-separation basis), and adding estimated dis-synergy costs related to the separation of the Company's North American security business to fiscal 2012 results. Normalized EPS before special items further adjusts normalized EPS for the special items described above. FORWARD-LOOKING STATEMENTS This press release contains a number of forward-looking statements. Words, and variations of words, such as "expect", "intend", "will", "anticipate", "believe", "propose", "potential", "continue", "opportunity", "estimate", "project" and similar expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, revenue, operating income and other financial projections, statements regarding the health and growth prospects of the industries and end markets in which Tyco operates, the leadership, resources, potential, priorities, and opportunities for Tyco in the future, statements regarding Tyco's credit profile, capital allocation priorities and other capital market related activities, and statements regarding Tyco's acquisition, divestiture, restructuring and other productivity initiatives. The forward-looking statements in this press release are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are outside of our control, and could cause results to materially differ from expectations. Such risks and uncertainties include, but are not limited to: economic, business, competitive, technological or regulatory factors that adversely impact Tyco or the markets and industries in which it competes; unanticipated expenses such as litigation or legal settlement expenses; tax law changes; and industry specific events or conditions that may adversely impact revenue or other financial projections. Actual results could differ materially from anticipated results. Tyco is under no obligation (and expressly disclaims any obligation) to update its forward-looking statements. More detailed information about these and other factors is set forth in Tyco's Annual Report on Form 10-K for the fiscal year ended Sept. 28, 2012 and in subsequent filings with the Securities and Exchange Commission. TYCO INTERNATIONAL LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) (Unaudited) Quarters Ended December 28, December 30, 2012 2011 Revenue from product sales $ $ 1,443 1,369 Service revenue 1,157 1,109 Net revenue 2,600 2,478 Cost of product sales 1,004 769 Cost of services 664 810 Selling, general and administrative 682 677 expenses Separation costs 5 - Restructuring and asset impairment 10 36 charges, net Operating income 235 186 Interest income 4 5 Interest expense (24) (58) Other (expense) income, net (9) 2 Income from continuing operations before 206 135 income taxes Income tax expense (39) (27) Equity loss in earnings of (6) (10) unconsolidated subsidiaries Income from continuing operations 161 98 Income from discontinued operations, net 4 224 of income taxes Net income 165 322 Less: noncontrolling interest in 2 - subsidiaries net income Net income attributable to Tyco $ $ common shareholders 163 322 Amounts attributable to Tyco common shareholders: Income from continuing operations $ $ 159 98 Income from discontinued operations 4 224 Net income attributable to Tyco common $ $ shareholders 163 322 Basic earnings per share attributable to Tyco common shareholders: Income from continuing operations $ $ 0.34 0.21 Income from discontinued operations 0.01 0.48 Net income attributable to Tyco common $ $ shareholders 0.35 0.69 Diluted earnings per share attributable to Tyco common shareholders: Income from continuing operations $ $ 0.34 0.21 Income from discontinued operations - 0.48 Net income attributable to Tyco common $ $ shareholders 0.34 0.69 Weighted-average number of shares outstanding: Basic 466 464 Diluted 473 469 These financial statements should be read in conjunction with the NOTE: Consolidated Financial Statements and accompanying notes contained in the Company's Annual Report on Form 10-K for the fiscal year ended September 28, 2012. TYCO INTERNATIONAL LTD. RESULTS OF SEGMENTS (in millions) (Unaudited) Quarters Ended December 28, December 30, 2012 2011 Net Revenue NA Installation & Services $ $ 976 962 ROW Installation & Services 1,090 1,056 Global Products 534 460 Total Net Revenue $ $ 2,600 2,478 Operating Income and Margin NA Installation & Services $ 11.1% $ 8.9% 108 86 ROW Installation & Services 114 10.5% 110 10.4% Global Products 74 13.9% 81 17.6% Corporate and Other (61) N/M (91) N/M Operating Income and $ 9.0% $ 7.5% Margin 235 186 TYCO INTERNATIONALLTD. CONSOLIDATED BALANCE SHEETS (in millions) (Unaudited) December 28, September 28, 2012 2012 Assets Cash and cash equivalents $ $ 501 844 Accounts receivable, net 1,709 1,711 Inventories 664 634 Prepaid expenses and other 912 850 current assets Deferred income taxes 295 295 Total current assets 4,081 4,334 Property, plant and equipment, net 1,682 1,670 Goodwill 4,406 4,377 Intangible assets, net 765 780 Other assets 1,191 1,204 Total Assets $ $ 12,125 12,365 Liabilities and Equity Loans payable and current $10 $10 maturities of long-term debt Accounts payable 839 897 Accrued and other current 1,522 1,788 liabilities Deferred revenue 364 402 Total current liabilities 2,735 3,097 Long-term debt 1,481 1,481 Deferredrevenue 416 424 Other liabilities 2,337 2,341 Total Liabilities 6,969 7,343 Redeemable noncontrolling interest 12 12 Total Tyco shareholders' equity 5,126 4,994 Nonredeemable noncontrolling interest 18 16 Total Equity 5,144 5,010 Total Liabilities, Redeemable $ $ Noncontrolling Interest and Equity 12,125 12,365 Note: These financial statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes contained in the Company's Annual Report on Form 10-K for the fiscal year ended September 28, 2012. TYCO INTERNATIONAL LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) (Unaudited) For the Quarters Ended December 28, December 30, 2012 2011 Cash Flows From Operating Activities: Net income attributable to Tyco common $163 $322 shareholders Noncontrolling interest in subsidiaries 2 — net income Income from discontinued operations, net (4) (224) of income taxes Income from continuing operations 161 98 Adjustments to reconcile net cash provided by operating activities: Depreciation and amortization 105 101 Non-cash compensation expense 14 21 Deferred income taxes 10 2 Provision for losses on accounts 18 11 receivable and inventory Other non-cash items 6 40 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable, net (9) 43 Contracts in progress (2) (14) Inventories (29) (33) Prepaid expenses and other current 31 (52) assets Accounts payable (61) (34) Accrued and other liabilities (228) (159) Deferred revenue (47) (28) Other (8) (72) Net cash used in operating (39) (76) activities Net cash provided by discontinued operating 4 414 activities Cash Flows From Investing Activities: Capital expenditures (90) (90) Proceeds from disposal of assets 3 1 Acquisition of businesses, net of cash (23) (95) acquired Acquisition of dealer generated customer (6) (6) accounts and bulk account purchases Sales and maturities of investments 11 32 Purchases of investments (91) (23) Other 8 19 Net cash used in investing (188) (162) activities Net cash used in discontinued — (279) investing activities Cash Flows From Financing Activities: Proceeds from issuance of short-term debt — 411 Repayment of short-term debt — (376) Proceeds from exercise of share options 46 29 Dividends paid (70) (116) Repurchase of common shares by treasury (50) (200) Transfer (to) from discontinued operations (29) 82 Other (16) (19) Net cash used in financing (119) (189) activities Net cash provided by (used in) discontinued financing 29 (82) activities Effect of currency translation on cash 3 (3) Net decrease in cash and cash equivalents (310) (377) Less: net increase in cash and cash equivalents related to discontinued (33) (53) operations Cash and cash equivalents at beginning of 844 1,229 period Cash and cash equivalents at end of period $ $ 501 799 Reconciliation to "Free Cash Flow": Net cash used in operating activities ($39) ($76) Capital expenditures, net (87) (89) Acquisition of dealer generated customer (6) (6) accounts and bulk account purchases Purchase accounting and holdback liabilities (1) — Free Cash Flow ($133) ($171) Reconciliation to "Adjusted Free Cash Flow": Free Cash Flow ($133) ($171) Cash restructuring costs 19 23 Cash (receipt)/payment from Covidien/TE (5) — Connectivity Separation costs 73 — Separation costs-capital expenditures 3 — Legal settlement 13 — Adjusted Free Cash Flow ($30) ($148) NOTE: Free cash flow is a non-GAAP measure. See description of non-GAAP measures contained in this release. Tyco International Ltd. Organic Growth Reconciliation - Revenue (in millions) (Unaudited) Quarter Ended December 28, 2012 Base Year Adjustments Net Net Revenue Adjusted Revenue for the 2012 Foreign Other Organic for the Quarter (Divestitures) Base Currency Acquisitions (2) Revenue Quarter Ended Revenue (1) Ended December December 30, 2011 28, 2012 $ $ $ $ $ NA $ $ Installation 0.0% $ 0.4% 0.2% 0.0% 0.8% 1.5% & Services - 962 2 962 4 976 8 - ROW Installation 1,056 - 0.0% 1,056 3 0.3% 35 3.3% - 0.0% (4) 0.4% 1,090 3.2% & Services Global 460 - 0.0% 460 2 0.4% 39 8.5% 7 1.5% 26 5.7% 534 16.1% Products $ $ $ $ $ $ Total Net $ 0.0% $ 0.4% 3.1% 0.3% 1.2% 4.9% Revenue - 2,478 76 2,478 9 2,600 30 7 (1) Organic revenue growth percentage based on adjusted 2012 base revenue. (2) Amount represents contractual revenue from ADT under the 2012 Separation and Distribution Agreement which is excluded from the organic revenue calculation. Earnings Per Share Summary (Unaudited) Quarter Ended Quarter Ended Dec. 28, 2012 Dec. 30, 2011 Diluted EPS from Continuing Operations $0.34 $0.21 Attributable to Tyco Shareholders (GAAP) expense / (benefit) Restructuring, net 0.01 0.02 Separation costs included in SG&A 0.01 - Asset impairment charges - 0.03 Separation costs 0.01 - Tax items 0.01 - 2012 Tax Sharing Agreement 0.02 - Total Before Special Items $0.40 $0.26 Represents forecast amounts for fiscal 2013 Anticipated dis-synergies in NA I&S segment (0.01) Corporate expense from $86M to expected $56M 0.05 Net interest expense from $53M to expected $25M 0.04 Effective tax rate from 23.1% to expected 19.5% 0.02 Q1 FY12 "Normalized" EPS $0.36 Tyco International Ltd. For the Quarter Ended December 28, 2012 (in millions, except per share data) (Unaudited) expense / (benefit) Segments NA ROW Global Segment Corporate Total Installation Installation & Service & Service Products Revenue and Other Revenue Revenue (GAAP) $976 $1,090 $534 $2,600 - $2,600 Income Diluted from EPS from Operating Income Continuing Continuing Operations Operations Segment Total Equity in Noncontrolling Attributable Attributable earnings NA ROW Global Operating Corporate Operating Interest Other Income of Interest to Tyco to Tyco Installation Installation unconsolidated & Service Margin & Service Margin Products Margin Income Margin and Other Margin Income Margin (Expense), (Expense), Tax subsidiaries (Expense) Shareholders Shareholders net net (Expense) Operating $108 11.1% $114 10.5% $74 13.9% $296 11.4% ($61) N/M $235 9.0% ($20) ($9) ($39) ($6) ($2) $159 $0.34 Income (GAAP) Restructuring, 7 2 9 1 10 (2) 8 0.01 net Separation costs included 12 12 1 13 (5) 8 0.01 in SG&A (Gains) / losses on divestitures, (3) (3) (3) - net included in SG&A Acquisition / integration 1 1 1 1 - costs Asbestos (1) (1) (1) - Separation 5 5 5 0.01 costs Tax items 4 4 0.01 2012 Tax Sharing 10 10 0.02 Agreement Total Before $120 12.3% $121 11.1% $77 14.4% $318 12.2% ($58) N/M $260 10.0% ($20) $1 ($42) ($6) ($2) $191 $0.40 Special Items Diluted Shares 473 Outstanding Diluted Shares Outstanding - 473 Before Special Items Tyco International Ltd. For the Quarter Ended December 30, 2011 (in millions, except per share data) (Unaudited) expense / (benefit) Segments NA ROW Global Segment Corporate Total Installation Installation & Service & Service Products Revenue and Other Revenue Revenue (GAAP) $962 $1,056 $460 $2,478 - $2,478 Income Diluted from EPS from Operating Income Continuing Continuing Operations Operations Segment Total Equity (loss) Attributable Attributable in earnings NA ROW Global Operating Corporate Operating Interest Other Income of to Tyco to Tyco Installation Installation unconsolidated & Service Margin & Service Margin Products Margin Income Margin and Other Margin Income Margin (Expense), (Expense), Tax subsidiary Shareholders Shareholders net net (Expense) Operating $86 8.9% $110 10.4% $81 17.6% $277 11.2% ($91) N/M $186 7.5% ($53) $2 ($27) ($10) $98 $0.21 Income (GAAP) Restructuring, 1 6 1 8 5 13 (4) 9 0.02 net Acquisition / integration 1 1 2 2 (1) 1 - costs Asset impairment 20 1 2 23 23 (8) 15 0.03 charges Total Before $108 11.2% $118 11.2% $84 18.3% $310 12.5% ($86) N/M $224 9.0% ($53) $2 ($40) ($10) $123 $0.26 Special Items Diluted Shares 469 Outstanding Diluted Shares Outstanding - Before 469 Special Items SOURCE Tyco Website: http://www.tyco.com Contact: Investor Relations Contacts, Antonella Franzen, +1-609-720-4665, email@example.com, or Joe Longo, +1-609-720-4545, firstname.lastname@example.org, or Media Contacts, Ira Gottlieb, +1-609-610-1999, email@example.com, or Brett Ludwig, +1-609-216-3255, firstname.lastname@example.org
Tyco Reports First Quarter 2013 Earnings From Continuing Operations Before Special Items Of $0.40 Per Share And GAAP Earnings Of
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