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Tyco International reported Q2 revenues $2.07bn and and income of $323m from continuing operations.

The results are first since rumours emerged on April 11th that Schneider Electric was eyeing the Swiss based diversified manufacturing company. Though the majority of its revenues come from the security industry the company includes divisions which supply electrical and mechanical plant to the data center sector. 

Tyco Electronics last month rebranded as TE Connectivity Ltd. In December 2010 Tyco spun off its Electrical &Metal Products business, which is now reported as an equity investment, saying revenue in the quarter of $4.0 billion increased 6% versus the prior year with organic revenue growth of 3%.

Tyco Chairman and Chief Executive Officer Ed Breen said, "The 26% increase in earnings per share we delivered in the second quarter was driven by a stronger operating margin and continued improvement in our end markets. We are encouraged by the order trends in our late-cycle businesses and we expect these trends will help fuel our growth as we finish this fiscal year and enter 2012."

"During the quarter, we also took steps to strengthen our competitive position in Tyco's core platforms by announcing the acquisitions of a leading security provider serving the Australia and New Zealandmarkets and a majority interest in a fully-integrated valve manufacturing business in the Middle East."

On April 11th news broke of a possible move by Schneider Electric to take over Tyco. No comment was forthcoming from either party. 

TYCO INTERNATIONAL LTD.

RESULTS OF SEGMENTS

(in millions)

(Unaudited)

Quarters Ended

Six Months Ended

March 25,

March 26,

March 25,

March 26,

2011

2010

2011

2010

NET REVENUE

Tyco Security Solutions

$ 2,079

$ 1,852

$ 4,186

$ 3,766

Tyco Fire Protection

1,109

1,082

2,208

2,194

Tyco Flow Control

804

824

1,630

1,656

Electrical and Metal Products

-

336

347

633

Corporate and Other

-

-

-

-

Total Net Revenue

$ 3,992

$ 4,094

$ 8,371

$ 8,249