te connectivity ltd (TEL) Key Developments
TE Connectivity Announces First Quarter Dividend Payable on December 11, 2015
Nov 12 15
TE Connectivity Ltd. announced that the $0.33 per share quarterly dividend for the first fiscal quarter of 2016 will be payable on December 11, 2015, to shareholders of record at the close of business on November 27, 2015. The dividend was approved by shareholders at the company's annual general meeting held on March 3, 2015.
Littelfuse Inc., TE Connectivity Ltd. - M&A Call
Nov 9 15
To discuss definitive agreement to acquire the circuit protection business of TE Connectivity Ltd. for $350 million in cash
TE Connectivity Reports Earnings Results for the Fourth Quarter and Full Year Ended September 25, 2015; Provides Earnings Guidance for the First Quarter and Full Year 2016
Oct 28 15
TE Connectivity reported earnings results for the fourth quarter and full year ended September 25, 2015. The company reported fourth quarter adjusted EPS of $0.90, up from $0.88. On a GAAP basis EPS was $0.34, down from $1.48 in the prior year. Total revenues were $2.98 billion were down from $3.07 billion in the prior year period. Net income attributable to the company for the fourth quarter was $1.04 billion, or $2.57 per diluted share, compared to $663 million, or $1.59 per diluted share, for the same quarter a year ago.
For the full year, the company reported net income attributable to the company was $2.42 billion, or $5.89 per diluted share, compared to $1.78 billion, or $4.27 per diluted share a year ago. Net sales were $12.23 billion, compared to $11.97 billion a year ago.
For the first quarter of 2016, the company expects net sales of $2.7 billion to $2.9 billion. The company expects adjusted EPS of $0.72 to $0.80. GAAP EPS is expected in a range of $0.62 to $0.70.
For the full year 2016, the company expects net sales of $12.0 to $12.8 billion. Adjusted EPS is expected in a range of $3.80 to $4.20. GAAP EPS is expected in a range of $3.61 to $4.01. Capital spending rate is expected to be approximately 5% of sales. Adjusted effective tax rate is expected to be approximately 23% to 24%. The company expected to continue to generate very strong free cash flow and will approximate net income generating over $1 billion of cash last year.
TE Connectivity Ltd. Announces Retirement of Robert Shaddock as Executive Vice President and Chief Technology Officer, Effective Late in 2016
Oct 19 15
TE Connectivity Ltd. announced on October 14, 2015 that its Executive Vice President and Chief Technology Officer, Robert Shaddock, is retiring from the Company effective late in 2016.
David P. Steiner to Retire from the Board of Directors of TE Connectivity
Oct 8 15
On October 5, 2015, David P. Steiner notified TE Connectivity Ltd. that he has decided to retire from the Board of Directors and not to stand for re-election as of the 2016 annual general meeting of shareholders to be held in March 2016.