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TYCO REPORTS FIRST QUARTER RESULTS; EARNS 54 CENTS PER SHARE VS. 46 CENTS PER SHARE FOR YEAR EARLIER PERIOD

 TYCO REPORTS FIRST QUARTER RESULTS;


EARNS 54 CENTS PER SHARE VS. 46 CENTS PER SHARE FOR YEAR EARLIER PERIOD
 EXETER, N.H., Oct. 27 /PRNewswire/ -- Tyco Laboratories, Inc. (NYSE: TYC) announced that net income for its first quarter ended Sept. 30, 1992 was $24.9 million or 54 cents per share. This compares to $21.4 million or 46 cents per share earned in the same period last year. Sales were $808.7 million vs. the $751.0 million recorded in the first quarter a year ago.
 The company's Electrical and Electronic Components Group reported a substantial increase as compared to last year's comparable period. The Simplex Wire and Cable Company continued to benefit from its all-time high level of deliveries of its undersea fiber optic telecommunications cable systems. Also, these results reflected increased demand at the Tyco Printed Circuit Group where sales and earnings were higher.
 The company's Packaging Materials Group also reported improvements over the same period a year earlier. Both Ludlow and Armin were able to achieve increased earnings on higher sales.
 Sales at the company's Worldwide Fire Protection Operations were higher than reported for the comparable period last year. However, compared to last year's first quarter, profits were lower due to the continued soft construction markets.
 The company's Flow Control segment recorded slightly higher sales and earnings for the first quarter. This performance was aided by the introduction of a number of new products including those manufactured by recently acquired valve companies. Also, the profits at Mueller Company improved as the higher level of new housing starts increased the demand for its water and gas distribution products.
 The company stated that it expects that it will continue to benefit from a number of other factors, including the reduced cost of debt as repayments continue; the current low levels of interest rates; and the restructuring of certain operations provided for in last year's fourth quarter.
 Tyco is a worldwide manufacturer of fire protection systems, flow control products, electrical and electronic components and packaging materials.
 TYCO LABORATORIES, INC.
 Results of Operations
 (in thousands except per share data)
 Three Months Ended
 9/30/92 9/30/91
 Sales $808,732 $751,034
 Income before income taxes $41,712 $35,703
 Income taxes (16,845) (14,287)
 Net income $24,867 $21,416
 Net income per share 54 cents 46 cents
 Common equivalent shares 45,850 46,250
 -0- 10/27/92
 /CONTACT: Irving Gutin, senior vice president of Tyco Laboratories, 603-778-9700/
 (TYC) CO: Tyco Laboratories, Inc. ST: New Hampshire IN: SU: ERN


DD -- NE008 -- 5248 10/27/92 09:41 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 27, 1992
Words:432
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