Tyco International Limited (TYC) Message Board

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Non-Tech : Tyco International Limited (TYC)

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To: JDN who wrote (3715)	8/3/2006 9:55:28 AM
From: rich evans	of 3770

Tyco Q3 results out and health business recovery only about 1/2 of expected. Quick look at Q3 results show that Tyco Health did not recover as expected hurting company results. Other sectors performed very well. And as expected foreign exchange did not hurt dollar reported results increasing margins by .4% on that alone. But Tyco health only made about half of the recovery expected hurting results by .3% OM overall and about 1cent/share. The extra charge of 3 cents for sprinkler head replacement was an old 2001-Koz matter. Tyco had already reserved about 360mill for this long ago but decided to clean the books with another charge of 100mill. Whether this new estimate is correct or not remains to be seen. Would like to see some reversals after separation. At least there should be no more charges for this legacy matter. Tyco should not be going down with this report but up in my opinion. They beat estimates by 1 cents and will beat in Q4 also with health continuing its recovery. Rich

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