Exhibit 99.1

 

 

Investor Relations Contacts:

 

Media Contact:

 

Antonella Franzen

 

Brett Ludwig

 

+1-609-720-4665

 

+1-609-806-2477

 

afranzen@tyco.com

 

bludwig@tyco.com

 

 

 

 

 

Joe Longo

 

 

 

+1-609-720-4545

 

 

 

jlongo@tyco.com

 

 

 

 

FOR IMMEDIATE RELEASE

 

TYCO REPORTS FOURTH QUARTER 2013 EARNINGS

FROM CONTINUING OPERATIONS BEFORE SPECIAL ITEMS OF $0.52 PER SHARE

AND GAAP EARNINGS OF $0.34 PER SHARE

 

·                  Fourth quarter revenue increases to $2.8 billion, with 1% organic growth

 

·                  Fourth quarter segment operating income before special items increases 11% and the operating margin before special items improves 130 basis points on a normalized basis* to 14.2%

 

·                  Diluted EPS from continuing operations before special items increases 16% over normalized fourth quarter 2012 results*

 

·                  Company closes two previously-announced acquisitions, acquires Westfire, Inc., and signs definitive agreement to divest two non-core businesses in the Pacific region

 

·                  Board approves 13% dividend increase subject to shareholder approval

 

(Income and EPS amounts are attributable to Tyco common shareholders)

($ millions, except per-share amounts)

 

 

 

Q4 2013

 

Q4 2012

 

% Change

 

FY 13

 

FY 12

 

% Change

 

Revenue

 

$

2,761

 

$

2,728

 

1

%

$

10,647

 

$

10,403

 

2

%

Segment Operating Income

 

$

342

 

$

320

 

7

%

$

1,128

 

$

1,183

 

(5

)%

Operating Income

 

$

262

 

$

153

 

71

%

$

809

 

$

685

 

18

%

Income (loss) from Continuing Operations

 

$

162

 

$

(629

)

 

 

$

527

 

$

(332

)

 

 

Diluted EPS from Continuing Operations

 

$

0.34

 

$

(1.36

)

 

 

$

1.12

 

$

(0.72

)

 

 

Special Items

 

$

(0.18

)

$

(1.70

)

 

 

$

(0.72

)

$

(2.10

)

 

 

Segment Operating Income Before Special Items

 

$

392

 

$

362

 

8

%

$

1,411

 

$

1,341

 

5

%

Income from Continuing Ops Before Special Items

 

$

245

 

$

159

 

54

%

$

871

 

$

646

 

35

%

Diluted EPS from Continuing Ops Before Special Items

 

$

0.52

 

$

0.34

 

53

%

$

1.84

 

$

1.38

 

33

%

 

NEUHAUSEN, Switzerland — Nov. 14, 2013 — Tyco

(NYSE: TYC) today reported $0.34 in GAAP diluted earnings per share (EPS) from continuing operations and diluted EPS from continuing operations before special items of $0.52 for the fiscal fourth quarter of 2013. Revenue in the quarter increased 1% versus the prior year to $2.8 billion. Organic revenue grew 1% in the quarter with 8% growth in products, 4% growth in service and a 6% decline in installation revenue. Acquisitions contributed two percentage points of growth which was offset by the impact of divestitures and changes in foreign currency exchange rates.

 


The following information was filed by Johnson Controls International Plc (JCI) on Thursday, November 14, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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