TYCO INTERNATIONAL LTD. (SWITZERLAND) (TYC, Financial) filed Annual Report for the period ended 2012-09-28.
Tyco International Ltd has a market cap of $12.73 billion; its shares were traded at around $26.57 with a P/E ratio of 7.6 and P/S ratio of 0.7. The dividend yield of Tyco International Ltd stocks is 2.2%.
Net revenue for the year ended September 28, 2012 decreased by $154 million, or 1.5%, to $10.4 billion as compared to net revenue of $10.6 billion for the year ended September 30, 2011. On an organic basis, net revenue grew by $247 million, or 2.4% year over year, primarily driven by our Global Products segment. Net revenue was unfavorably impacted by the net impact of acquisitions and divestitures of $71 million, or 0.7%, primarily due to the sale of a majority interest the Company's former Electrical and Metal Products business, which contributed $347 million of net revenue during the year ended September 30, 2011, partially offset by the acquisitions of Chemguard and Visonic within the Company's Global Products segment. Unfavorable changes in foreign currency exchange rates impacted net revenue by $226 million, or 2.1%. In addition, because the Company's fiscal year ends on the last Friday in September, fiscal 2012 consisted of 52 weeks as compared to 53 weeks in fiscal 2011. As a result, fiscal year 2011 includes an estimated $98 million of revenue from the additional week.
impact of acquisitions and divestitures of $1.3 billion, or 11.8%, which was primarily the result of the sale of a majority interest in the Company's former Electrical and Metal Products business, which contributed approximately $1.4 billion of net revenue during the year ended September 24, 2010 and $347 million during the year ended September 30, 2011. Net revenue was also unfavorably impacted by $72 million, or 0.7%, due to the deconsolidation of a joint venture in our ROW Installation & Services segment due to the adoption of an accounting standard. Favorable changes in foreign currency exchange rates impacted net revenue by $306 million, or 2.8%. In addition, because the Company's fiscal year ends on the last Friday in September, fiscal 2011 consisted of 53 weeks, as compared to 52 weeks in fiscal 2010. As a result, fiscal year 2011 includes an estimated $98 million, or 0.9%, of revenue from the additional week.
Operating income for the year ended September 28, 2012 decreased $51 million, or 12.0%, to $374 million, as compared to operating income of $425 million for the year ended September 30, 2011. Operating income for the year ended September 28, 2012 declined due to restructuring and asset impairment charges related to organizational realignment. Operating income for the year ended September 30, 2011 increased $76 million, or 21.8%, to $425 million, as compared to operating income of $349 million for the year ended September 24, 2010. Operating income for the year ended September 30, 2011 improved due to favorable revenue mix, increased project selectivity and productivity enhancements along with the benefit of restructuring savings. Items impacting operating income for fiscal 2012, 2011 and 2010 are as follows:
and $420 million of deferred revenue as of September 28, 2012 and September 30, 2011, respectively. NA Installation & Service's backlog of $2,507 million and $2,373 million, as of September 28, 2012 and September 30, 2011, respectively, consists primarily of $1,227 million and $1,193 million of recurring revenue in force and $325 million and $348 million of deferred revenue as of September 28, 2012 and September 30, 2011, respectively. ROW Installation & Service's backlog of $2,421 million and $2,210 million, as of September 28, 2012 and September 30, 2011, respectively, consists primarily of $1,496 million and $1,370 million of recurring revenue in force and $70 million and $72 million of deferred revenue as of September 28, 2012 and September 30, 2011, respectively.
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Tyco International Ltd has a market cap of $12.73 billion; its shares were traded at around $26.57 with a P/E ratio of 7.6 and P/S ratio of 0.7. The dividend yield of Tyco International Ltd stocks is 2.2%.
Highlight of Business Operations:
(1)Net revenue includes $347 million and $1.4 billion for 2011 and 2010, respectively, related to the Company's former Electrical and Metal Products business which was sold during the first quarter of fiscal 2011. (2)Operating income includes $7 million and $100 million for 2011 and 2010, respectively, related to the Company's former Electrical and Metal Products business, which was sold during the first quarter of fiscal 2011. Additionally, operating income for 2011 includes a $248 million net gain on that sale.Net revenue for the year ended September 28, 2012 decreased by $154 million, or 1.5%, to $10.4 billion as compared to net revenue of $10.6 billion for the year ended September 30, 2011. On an organic basis, net revenue grew by $247 million, or 2.4% year over year, primarily driven by our Global Products segment. Net revenue was unfavorably impacted by the net impact of acquisitions and divestitures of $71 million, or 0.7%, primarily due to the sale of a majority interest the Company's former Electrical and Metal Products business, which contributed $347 million of net revenue during the year ended September 30, 2011, partially offset by the acquisitions of Chemguard and Visonic within the Company's Global Products segment. Unfavorable changes in foreign currency exchange rates impacted net revenue by $226 million, or 2.1%. In addition, because the Company's fiscal year ends on the last Friday in September, fiscal 2012 consisted of 52 weeks as compared to 53 weeks in fiscal 2011. As a result, fiscal year 2011 includes an estimated $98 million of revenue from the additional week.
impact of acquisitions and divestitures of $1.3 billion, or 11.8%, which was primarily the result of the sale of a majority interest in the Company's former Electrical and Metal Products business, which contributed approximately $1.4 billion of net revenue during the year ended September 24, 2010 and $347 million during the year ended September 30, 2011. Net revenue was also unfavorably impacted by $72 million, or 0.7%, due to the deconsolidation of a joint venture in our ROW Installation & Services segment due to the adoption of an accounting standard. Favorable changes in foreign currency exchange rates impacted net revenue by $306 million, or 2.8%. In addition, because the Company's fiscal year ends on the last Friday in September, fiscal 2011 consisted of 53 weeks, as compared to 52 weeks in fiscal 2010. As a result, fiscal year 2011 includes an estimated $98 million, or 0.9%, of revenue from the additional week.
Operating income for the year ended September 28, 2012 decreased $51 million, or 12.0%, to $374 million, as compared to operating income of $425 million for the year ended September 30, 2011. Operating income for the year ended September 28, 2012 declined due to restructuring and asset impairment charges related to organizational realignment. Operating income for the year ended September 30, 2011 increased $76 million, or 21.8%, to $425 million, as compared to operating income of $349 million for the year ended September 24, 2010. Operating income for the year ended September 30, 2011 improved due to favorable revenue mix, increased project selectivity and productivity enhancements along with the benefit of restructuring savings. Items impacting operating income for fiscal 2012, 2011 and 2010 are as follows:
and $420 million of deferred revenue as of September 28, 2012 and September 30, 2011, respectively. NA Installation & Service's backlog of $2,507 million and $2,373 million, as of September 28, 2012 and September 30, 2011, respectively, consists primarily of $1,227 million and $1,193 million of recurring revenue in force and $325 million and $348 million of deferred revenue as of September 28, 2012 and September 30, 2011, respectively. ROW Installation & Service's backlog of $2,421 million and $2,210 million, as of September 28, 2012 and September 30, 2011, respectively, consists primarily of $1,496 million and $1,370 million of recurring revenue in force and $70 million and $72 million of deferred revenue as of September 28, 2012 and September 30, 2011, respectively.
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