Tyco Electronics reports sales increase for third quarter

Tyco Electronics, a provider of engineered electronic components, has reported its results for the fiscal third quarter ended 25 June 2010.

The company reported a net sales increase of 23 per cent year over year and 4 per cent sequentially, to $3.08bn.

GAAP EPS were $0.72 for the quarter, compared to $0.05 in the prior-year period. Included in the GAAP EPS were $0.02 per share of income related to tax and other items, net of restructuring charges. This compares to $0.11 per share of net charges in the prior-year quarter. Adjusted EPS were $0.70 in the quarter, compared to $0.16 in the prior-year quarter.