UPDATE 1-Tyco Electronics posts quarterly profit

NEW YORK, July 22 (BestGrowthStock) – Electronic connector maker
Tyco Electronics Ltd (TEL.N: ) reported a quarterly profit on
Thursday, citing strength in consumer and electronics markets,
and said its current-quarter results would beat Wall Street
estimates.

Net earnings were $330 million, or 72 cents per share, in
the third quarter ended June 25, compared with a year-earlier
loss of $77 million, or 17 cents per share.

Revenue rose 23 percent to $3.08 billion.

Tyco Electronics on July 13 raised its third-quarter
earnings estimate and announced the $1.25 billion cash purchase
of ADC Telecommunications Inc. (ADCT.O: ), a maker of fiber optic
cable and network access devices. [ID:nN13242571]

The company said it expected fourth-quarter profit (Read more your timing to make a profit.) of 68
cents to 72 cents share, excluding items, which is above the
analysts’ average estimate of 65 cents.

Stock Today
(Reporting by Nick Zieminski; Editing by Lisa Von Ahn)

UPDATE 1-Tyco Electronics posts quarterly profit