Tyco Continues Profitable Run
Where the Fire & Security segment of the business was concerned, revenue was up $US123 million, or 4 percent, to $US2.9 billion. Meanwhile growth at Worldwide Security and Tyco Safety Products was balanced by weakness in the Worldwide Fire Services business. The company also reports that Tyco Safety Products had strong growth led by increased demand for breathing systems, video surveillance, and access control equipment. And Tyco Worldwide Security continued to benefit from stronger sales to retailers. There operating income increased $US90 million from 2003 to an impressive $US278.3 million over just 12 months.
“We’re growing the top line, expanding operating margins, generating strong cash flow and strengthening our balance sheet, all of which continue to solidify our foundation for the future,” Mr. Breen said in a statement.