The big American also reported second quarter revenue of $US2.6 billion, with 3 per cent revenue growth and 2 per cent organic growth. Organic revenue grew 2 per cent in the quarter with 7 per cent growth in products, 3 per cent growth in service and a 3 per cent decline in installation revenue.
“Tyco delivered a solid quarter operationally with accelerated service growth and operating margin expansion, driving a 20 per cent year-over-year increase in normalized earnings per share,” said Tyco CEO George Oliver.
“Our financial performance and strong balance sheet provides us with the flexibility to continue to fund our organic and inorganic growth initiatives while returning capital to shareholders. During the quarter we announced 2 important acquisitions including NFSG, that strengthen our position in core platforms by broadening our product and service offerings to customers.”
