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Last $59.85 USD
Change Today -0.44 / -0.73%
Volume 2.4M
As of 8:04 PM 07/27/15 All times are local (Market data is delayed by at least 15 minutes).

te connectivity ltd (TEL) Key Developments

TE Connectivity Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 26, 2015; Provides Earnings Guidance for the Fiscal Fourth Quarter of 2015; Revises Earnings Guidance for the Full Year of Fiscal 2015

TE Connectivity Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended June 26, 2015. For the quarter, net sales were $3,118 million against $3,075 million a year ago. Operating income was $469 million against $464 million a year ago. Income from continuing operations before income taxes was $451 million against $449 million a year ago. Income from continuing operations was $351 million or $0.85 per diluted share against $347 million or $0.83 per diluted share a year ago. Net income attributable to the company was $309 million or $0.75 per diluted share against $403 million or $0.97 per diluted share a year ago. Net cash provided by operating activities was $596 million against $500 million a year ago. Capital expenditures was $134 million against $164 million a year ago. Adjusted operating income was $497 million against $475 million a year ago. Adjusted income from continuing operations was $370 million or $0.90 per diluted share against $355 million or $0.85 per diluted share a year ago. For the nine months, net sales were $9,249 million against $8,901 million a year ago. Operating income was $1,342 million against $1,354 million a year ago. Income from continuing operations before income taxes was $1,187 million against $1,331 million a year ago. Income from continuing operations was $1,102 million or $2.67 per diluted share against $1,000 million or $2.40 per diluted share a year ago. Net income attributable to the company was $1,380 million or $3.34 per diluted share against $1,118 million or $2.68 per diluted share a year ago. Net cash provided by operating activities was $1,289 million against $1,334 million a year ago. Capital expenditures was $425 million against $445 million a year ago. Adjusted operating income was $1,504 million against $1,371 million a year ago. For the fiscal fourth quarter 2015, the company expects net sales of $3.02 billion to $3.18 billion, reflecting 1% actual and 3% organic year over year growth at the mid-point, and adjusted EPS of $0.90 to $0.96, which represents 6% growth at the mid-point. GAAP EPS are expected to be $0.81 to $0.87, including restructuring and other charges of $0.06 and acquisition related charges of $0.03. This outlook includes foreign exchange headwinds, reducing expected sales by $244 million and adjusted EPS by $0.10 year over year. For the full year, the company has reduced guidance, primarily due to slowdown in China, and expects net sales of $12.28 to $12.42 billion, reflecting 3% actual and 5% organic growth versus prior year at the mid-point; and adjusted EPS of $3.60 to $3.66 reflecting double-digit growth versus the prior year. GAAP EPS are expected to be $3.48 to $3.54, including acquisition related charges of $0.18, restructuring and other charges of $0.27, and income from tax related items of $0.33. The outlook includes foreign exchange headwinds, reducing expected sales by $925 million and adjusted EPS by $0.32 year over year.

TE Connectivity Ltd. to Report Q3, 2015 Results on Jul 22, 2015

TE Connectivity Ltd. announced that they will report Q3, 2015 results at 9:00 AM, W. Europe Standard Time on Jul 22, 2015

TE Connectivity Ltd., Q3 2015 Earnings Call, Jul 22, 2015

TE Connectivity Ltd., Q3 2015 Earnings Call, Jul 22, 2015

TE Connectivity Announces Clark College Upgrades Fiber Infrastructure with TE Connectivity

TE Connectivity announced that Clark College in southwestern Washington has upgraded its campus-wide broadband infrastructure with TE fiber solutions. The College moved from 1-Gigabit to 10-Gigabit fiber with the potential for upgrades to faster speeds over time. For years, the campus had relied on multimode fiber for connectivity, but distance and bandwidth limitations made it time to change. TE and contractor Cochran Electric deployed 24-fiber multifiber push-on (MPO trunks with Q3000 panels, 10-Gigabit MPO fiber blades, and RMG series rack-mount fiber enclosures to support the upgrade. New fiber was installed 48 strands each of single-mode and multimode fiber per building to provide redundancy and mitigate any downtime.

Andretti Technologies' Test Car Program Selects TE Connectivity (TEL) as Partner

TE Connectivity (TEL) has been hired to provide technology for Andretti Technologies' test car and test program. Andretti Technologies is the engineering business of Andretti Autosport. In the partnership, the companies will develop and test new technologies in a racing environment to prove and promote clean energy and sustainability. They will use the Andretti Technologies Formula E test car, which will feature TE's connectivity and sensor products.

 

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Industry Analysis

TEL

Industry Average

Valuation TEL Industry Range
Price/Earnings 13.2x
Price/Sales 1.7x
Price/Book 2.7x
Price/Cash Flow 11.9x
TEV/Sales 1.4x
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