Tuesday, January 24, 2012

TE Connectivity Posts Slower Communication Sales

TE Connectivity reported quarterly sales of $3.3 billion. Earnings per share from continuing operations (GAAP EPS) were $0.59 for the quarter and adjusted EPS were $0.66. Included in the GAAP EPS were $0.03 per share of restructuring and other charges, $0.01 per share of acquisition-related charges and $0.04 per share of tax items. Free cash flow was $85 million for the quarter.

"The first quarter was a slow start to our fiscal year due to lower-than-expected demand in our Communications and Industrial Solutions segment and our Telecom Networks business. This more than offset continued strength in our Transportation Solutions segment," said TE Connectivity Chief Executive Officer Tom Lynch. "http://www.te.com

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