Tyco International Reports Third Quarter Earnings From Continuing Operations of $0.88...

Tyco International Reports Third Quarter Earnings From Continuing Operations
of $0.88 Per Share Before Special Items and GAAP Earnings of $0.41 Per Share
PEMBROKE, Bermuda, July 31 /PRNewswire-FirstCall/ --

($ millions, except per-share amounts)
Q3 2008 Q3 2007 % Change
Revenue $5,215 $4,702 11%
Income from Continuing Operations $199 ($3,054)
Diluted EPS from Continuing Operations $0.41 ($6.17)
Special Items Per Share After Tax $0.47 $6.68 --
Income from Continuing Operations Before
Special Items $429 $254 69%
Diluted EPS from Continuing Operations Before
Special Items $0.88 $0.51 73%

-- Revenue increased 11% with organic revenue growth of 6.2%
-- Company achieved operating margin of 11.1% and operating margin before
special items of 12.1%
-- Company raises guidance for full year 2008 to a range of $2.97 to $2.99
for diluted EPS from continuing operations before special items
-- Company continues to make progress in refining its portfolio
-- Company completed $1 billion share repurchase program; new $1 billion
program recently announced

Tyco International Ltd. (NYSE: TYC; BSX: TYC) today reported $0.41 in
diluted earnings per share (EPS) from continuing operations for the fiscal
third quarter of 2008 and diluted EPS from continuing operations before
special items of $0.88. Diluted EPS from continuing operations was negatively
impacted by special items of $0.47 per share primarily for separation-related
items and restructuring activities. Diluted EPS from continuing operations
before special items increased 73%. Revenue increased 11% versus the prior
year to $5.2 billion, with organic revenue growth of 6.2%. The company's
operating margin was 11.1% and the operating margin before special items was
12.1%.
Tyco Chairman and Chief Executive Officer Ed Breen said, "This was a solid
quarter with improved revenue growth and strong operating margin performance
across Tyco. Based on the strength of these results and our outlook for the
fourth quarter, we are raising our full year earnings guidance. We continued
to make progress in refining our portfolio, including acquisitions that will
strengthen our product and service offerings. We also announced a new $1
billion share repurchase program as part of our strategy to return a portion
of our excess cash to shareholders. These actions, combined with the progress
we are making on a number of our strategic objectives, position Tyco for a
strong finish to the year."
The company now expects full-year fiscal 2008 diluted earnings per share
from continuing operations before special items to be in the range of $2.97 to
$2.99 per share from the previous range of $2.65 to $2.75.
As part of its portfolio refinement activities, Tyco completed the
acquisition of FirstService Security to strengthen ADT's systems integration
capabilities in North America. The company also announced the acquisition of
two Sensormatic franchises and agreed to purchase IntelliVid, a leading
developer of advanced video analytics. Tyco also is making progress in
divesting certain non-core businesses and to date in fiscal 2008 has received
$1 billion in proceeds from divestitures including the majority of its
Infrastructure Services Business, Ancon Building Products and Nippon Dry
Chemical.
Organic revenue growth, free cash flow, operating income before special
items, operating margin before special items, income from continuing
operations before special items and diluted EPS from continuing operations
before special items are all non-GAAP financial measures and are described
below. For a reconciliation of these non-GAAP measures, see the attached
tables. Additional schedules can be found at www.tyco.com on the Investor
Relations portion of Tyco's website.
SEGMENT RESULTS
The financial results presented in the tables below are in accordance with
GAAP unless otherwise indicated. All dollar amounts are pre-tax and stated in
millions. All comparisons are to the fiscal third quarter of 2007 unless
otherwise indicated.

ADT Worldwide
Q3 2008 Q3 2007 % Change
Revenue $2,000 $1,909 5%
Operating Income $239 $205 17%
Operating Margin 12.0% 10.7%
Special Items $31 $57
Operating Income Before Special Items $270 $262 3%
Operating Margin Before Special Items 13.5% 13.7%

Revenue increased 5% with organic revenue growth of 2%. Recurring revenue
grew 5% organically and improved across all regions. Systems installation and
service revenue declined 1% organically mostly due to weakness in the retailer
end market. This was partially offset by strong double-digit organic growth in
other international markets.
Operating income was $239 million and the operating margin was 12.0%.
Special items consisted of $31 million of restructuring charges. Operating
income before special items was $270 million and the operating margin before
special items was 13.5%.

Flow Control
Q3 2008 Q3 2007 % Change
Revenue $1,132 $982 15%
Operating Income $152 $124 23%
Operating Margin 13.4% 12.6%
Special Items $3 $2
Operating Income Before Special Items $155 $126 23%
Operating Margin Before Special Items 13.7% 12.8%

Revenue increased 15% with organic revenue growth of 5.3% driven by
continued strong growth in the Valves business which grew 10% organically and
the Thermal Controls business which grew 15% organically. In the Water
business, organic revenue declined 7%, primarily due to reduced water pipeline
project activity in Australia compared to the year ago quarter.
Operating income was $152 million and the operating margin was 13.4%.
Operating income before special items increased 23% to $155 million and the
operating margin before special items was 13.7%. The increase in the
operating income and the operating margin before special items was due to
higher revenue and improved productivity.

Fire Protection Services
Q3 2008 Q3 2007 % Change
Revenue $919 $848 8%
Operating Income $97 $58 67%
Operating Margin 10.6% 6.8%
Special Items -- $13
Operating Income Before Special Items $97 $71 37%
Operating Margin Before Special Items 10.6% 8.4%

Revenue increased 8% with organic revenue growth of 4%. The North
American SimplexGrinnell business grew 8% organically while the international
fire businesses declined slightly due to the planned exit of certain non-core
activities in Latin America and Asia.
Operating income was $97 million and the operating margin was 10.6%. The
operating margin before special items increased 220 basis points mostly due to
solid margin improvement in SimplexGrinnell related to higher revenue and
better productivity. The international fire businesses also contributed to
the operating margin improvement due to better productivity and increased
service mix.

Electrical and Metal Products
Q3 2008 Q3 2007 % Change
Revenue $652 $519 26%
Operating Income $141 $47 200%
Operating Margin 21.6% 9.1%
Special Items $5 --
Operating Income Before Special Items $146 $47 211%
Operating Margin Before Special Items 22.4% 9.1%

Revenue increased 26% with organic revenue growth of 23%. The increase in
revenue was mostly driven by better pricing for steel tubular products.
Operating income was $141 million and the operating margin was 21.6%.
Operating income before special items of $146 million improved primarily due
to better metal spreads and continued improvement in manufacturing
efficiencies.

Safety Products
Q3 2008 Q3 2007 % Change
Revenue $511 $442 16%
Operating Income $79 $72 10%
Operating Margin 15.5% 16.3%
Special Items $12 $8
Operating Income Before Special Items $91 $80 14%
Operating Margin Before Special Items 17.8% 18.1%

Revenue increased 16% with organic revenue growth of 11% driven primarily
by strength in the fire suppression and life safety businesses.
Operating income was $79 million and the operating margin was 15.5%.
Operating income before special items increased 14% to $91 million and the
operating margin before special items was 17.8%. The improvement in operating
income before special items was primarily due to higher volume and improved
productivity offset by increased investment in R&D and sales and marketing.
OTHER ITEMS
-- Cash from operating activities was $712 million and free cash flow was
$446 million. This included cash payments of $81 million primarily for
restructuring and legacy litigation payments.
-- The $330 million of pre-tax charges for special items ($0.47 per share)
consisted primarily of $275 million for separation-related activities
including the early retirement of debt and $53 million for restructuring
activities.
-- Corporate expense was $131 million in the quarter and included a net
charge of $4 million for special items.
-- Net interest expense of $75 million included $17 million of separation-
related expenses.
-- The GAAP tax rate for the quarter was 18.4% and was positively impacted
by 6.8 percentage points related to the tax treatment of special items.
-- The company announced a new $1 billion share repurchase program on July
10, 2008. A previous $1 billion program announced in September 2007 concluded
earlier this month. The company repurchased 24.3 million shares under that
program, representing approximately 5% of total shares outstanding.
-- Diluted EPS from discontinued operations of $0.57 per share in the
third quarter consisted primarily of gains from the sale of a Brazilian
subsidiary of the Infrastructure Services Business and Ancon Building
Products.
ABOUT TYCO INTERNATIONAL
Tyco International Ltd. (NYSE: TYC) is a diversified, global company that
provides vital products and services to customers in more than 60 countries.
Tyco is a leading provider of security products and services, fire protection
and detection products and services, valves and controls, and other industrial
products. Tyco had 2007 annual revenues of more than $18 billion and 118,000
employees worldwide. More information on Tyco can be found at www.tyco.com.
CONFERENCE CALL AND WEBCAST
Management will discuss the company's third quarter results and outlook
for the fiscal fourth quarter during a conference call and webcast for
investors today beginning at 8:30 a.m. ET. Today's conference call can be
accessed in the following ways:
-- At Tyco's website: http://investors.tyco.com.
-- By telephone: For both "listen-only" participants and those
participants who wish to take part in the question-and-answer portion of the
call, the telephone dial-in number in the United States is (888) 455-5685.
The telephone dial-in number for participants outside the United States is
(773) 799-3896. The passcode for the call is TYCO.
-- An audio replay of the conference call will be available beginning at
11:00 a.m. on July 31, 2008 and ending at 10:59 p.m. on August 7, 2008. The
dial-in number for participants in the United States is (800) 570-8795. For
participants outside the United States, the replay dial-in number is (402)
220-2264.
NON-GAAP MEASURES
"Organic revenue growth," "free cash flow" (FCF), "operating income before
special items", "earnings per share (EPS) from continuing operations before
special items" and "operating margin before special items" are non-GAAP
measures and should not be considered replacements for GAAP results.
Organic revenue growth is a useful measure used by the company to measure
the underlying results and trends in the business. The difference between
reported net revenue growth (the most comparable GAAP measure) and organic
revenue growth (the non-GAAP measure) consists of the impact from foreign
currency, acquisitions and divestitures, and other changes that do not reflect
the underlying results and trends (for example, revenue reclassifications and
changes to the fiscal year). Organic revenue growth is a useful measure of the
company's performance because it excludes items that: i) are not completely
under management's control, such as the impact of foreign currency exchange;
or ii) do not reflect the underlying growth of the company, such as
acquisition and divestiture activity. It may be used as a component of the
company's compensation programs. The limitation of this measure is that it
excludes items that have an impact on the company's revenue. This limitation
is best addressed by using organic revenue growth in combination with the GAAP
numbers. See the accompanying tables to this press release for the
reconciliation presenting the components of organic revenue growth.
FCF is a useful measure of the company's cash which is free from any
significant existing obligation. The difference between cash flows from
operating activities (the most comparable GAAP measure) and FCF (the non-GAAP
measure) consists mainly of significant cash outflows that the company
believes are useful to identify. FCF permits management and investors to gain
insight into the number that management employs to measure cash that is free
from any significant existing obligation. It, or a measure that is based on
it, may be used as a significant component in the company's incentive
compensation plans. The difference reflects the impact from:
-- the sale of accounts receivable programs,
-- net capital expenditures,
-- accounts purchased from ADT dealer network,
-- cash paid for purchase accounting and holdback liabilities, and
-- voluntary pension contributions.

The impact from the sale of accounts receivable programs and voluntary
pension contributions are added or subtracted from the GAAP measure because
this activity is driven by economic financing decisions rather than operating
activity. Capital expenditures and the ADT dealer program are subtracted
because they represent long-term commitments. Cash paid for purchase
accounting and holdback liabilities is subtracted from Cash Flow from
Operating Activities because these cash outflows are not available for general
corporate uses.
The limitation associated with using FCF is that it subtracts cash items
that are ultimately within management's and the Board of Directors' discretion
to direct and therefore may imply that there is less or more cash that is
available for the company's programs than the most comparable GAAP measure.
This limitation is best addressed by using FCF in combination with the GAAP
cash flow numbers.
FCF as presented herein may not be comparable to similarly titled measures
reported by other companies. The measure should be used in conjunction with
other GAAP financial measures. Investors are urged to read the company's
financial statements as filed with the Securities and Exchange Commission, as
well as the accompanying tables to this press release that show all the
elements of the GAAP measures of Cash Flows from Operating Activities, Cash
Flows from Investing Activities, Cash Flows from Financing Activities and a
reconciliation of the company's total cash and cash equivalents for the
period. See the accompanying tables to this press release for a cash flow
statement presented in accordance with GAAP and a reconciliation presenting
the components of FCF.
The company has presented its operating income from continuing operations,
operating income and operating margin before special items and EPS from
continuing operations before special items, and forecast its EPS from
continuing operations before special items. Special Items include charges and
gains related to divestitures, acquisitions, restructurings (including
transaction costs related to the separations of Tyco Electronics and Tyco
Healthcare into separate public companies), and other income or charges that
may mask the underlying operating results and/or business trends of the
company or business segment, as applicable. The company utilizes income from
continuing operations, EPS and operating income and margin, in each case
before special items to assess overall operating performance, segment level
core operating performance and to provide insight to management in evaluating
overall and segment operating plan execution and underlying market conditions.
They may be used as significant components in the company's incentive
compensation plans. Operating income, operating margin, income from continuing
operations before special items and EPS before special items are useful
measures for investors because they permit more meaningful comparisons of the
company's underlying operating results and business trends between periods.
EPS before special items does not reflect any additional adjustments that are
not reflected in income from continuing operations before special items. The
difference between income from continuing operations before special items and
operating income and margin before special items versus income from continuing
operations, operating income and operating margin (the most comparable GAAP
measures) consists of the impact of charges and gains related to divestitures,
acquisitions, restructurings (including transaction costs related to the
separations of Tyco Electronics and Tyco Healthcare into separate public
companies), and other income or charges that may mask the underlying operating
results and/or business trends. The limitation of these measures is that they
exclude the impact (which may be material) of items that increase or decrease
the company's reported operating income from continuing operations, EPS and
operating income and margin. This limitation is best addressed by using
operating income and operating margin before special items in combination with
the most comparable GAAP measures in order to better understand the amounts,
character and impact of any increase or decrease on reported results.
The company presents its EPS forecast before special items to give
investors a perspective on the underlying business results. Because the
company often cannot predict the amount and timing of unusual or special items
and associated charges or gains that may be recorded in the company's
financial statements, it does not present forecasts that include the impact of
those items. See the accompanying tables to this press release for the
reconciliation presenting the components of operating income before special
items.
FORWARD-LOOKING STATEMENTS
This release may contain certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995.
These statements are based on management's current expectations and are
subject to risks, uncertainty and changes in circumstances, which may cause
actual results, performance or achievements to differ materially from
anticipated results, performance or achievements. All statements contained
herein that are not clearly historical in nature are forward-looking and the
words "anticipate," "believe," "expect," "estimate," "plan," and similar
expressions are generally intended to identify forward-looking statements. The
forward-looking statements in this release include statements addressing the
company's future financial condition and operating results, as well as its
portfolio refinement activities. Economic, business, competitive and/or
regulatory factors affecting Tyco's businesses are examples of factors, among
others, that could cause actual results to differ materially from those
described in the forward-looking statements. Tyco is under no obligation to
(and expressly disclaims any such obligation to) update or alter its forward-
looking statements whether as a result of new information, future events or
otherwise. More detailed information about these and other factors is set
forth in Tyco's Annual Report on Form 10-K for the fiscal year ended Sept. 28,
2007 and Quarterly Report on Form 10-Q for the quarterly period ended March
28, 2008.

TYCO INTERNATIONAL LTD.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share data)
(Unaudited)

Quarter Ended Nine Months Ended
June 27, June 29, June 27, June 29,
2008 2007 2008 2007
Net revenue $5,215 $4,702 $14,915 $13,525
Cost of sales 3,364 3,104 9,706 8,943
Selling, general and
administrative expenses 1,234 1,184 3,605 3,558
Class action settlement, net (7) 2,875 (7) 2,875
Separation costs - 28 4 85
Goodwill Impairment - 46 - 46
Restructuring, asset impairment
and divestiture charges, net 47 46 95 147
Operating income (loss) 577 (2,581) 1,512 (2,129)
Interest income 16 29 99 54
Interest expense (91) (78) (323) (208)
Other expense, net (257) (259) (205) (257)
Income (loss) from continuing
operations before income
taxes and minority interest 245 (2,889) 1,083 (2,540)
Income taxes (45) (163) (249) (190)
Minority interest (1) (2) (3) (3)
Income (loss) from continuing
operations 199 (3,054) 831 (2,733)
Income (loss) from discontinued
operations, net of income taxes 277 (497) 288 810
Net income (loss) $476 $(3,551) $1,119 $(1,923)

Basic earnings per common share:
Income (loss) from continuing
operations $0.41 $(6.17) $1.71 $(5.53)
Income (loss) from discontinued
operations 0.58 (1.01) 0.59 1.64
Net income (loss) $0.99 $(7.18) $2.30 $(3.89)

Diluted earnings per common share:
Income (loss) from continuing
operations $0.41 $(6.17) $1.70 $(5.53)
Income (loss) from discontinued
operations 0.57 (1.01) 0.58 1.64
Net income (loss) $0.98 $(7.18) $2.28 $(3.89)

Weighted-average number of shares
outstanding:
Basic 482 495 487 495
Diluted 486 495 491 495

NOTE: These financial statements should be read in conjunction with the
Consolidated Financial Statements and accompanying notes contained
in the Company's Annual Report on Form 10-K for the fiscal year
ended September 28, 2007 and Quarterly Report on Form 10-Q for the
quarterly period ended March 28, 2008.

TYCO INTERNATIONAL LTD.
RESULTS OF SEGMENTS
(in millions)
(Unaudited)

Quarter Ended
June 27, June 29,
2008 2007
NET REVENUE
ADT Worldwide $2,000 $1,909
Flow Control 1,132 982
Fire Protection Services 919 848
Electrical and Metal Products 652 519
Safety Products 511 442
Corporate and Other 1 2
Total Net Revenue $5,215 $4,702

OPERATING INCOME AND MARGIN
ADT Worldwide $239 12.0% $205 10.7%
Flow Control 152 13.4% 124 12.6%
Fire Protection Services 97 10.6% 58 6.8%
Electrical and Metal Products 141 21.6% 47 9.1%
Safety Products 79 15.5% 72 16.3%
Corporate and Other (131) N/M (3,087) N/M
Operating Income (Loss) and Margin $577 11.1% $(2,581) -54.9%

TYCO INTERNATIONAL LTD.
RESULTS OF SEGMENTS
(in millions)
(Unaudited)

Nine Months Ended
June 27, June 29,
2008 2007
NET REVENUE
ADT Worldwide $5,965 $5,659
Flow Control 3,230 2,695
Fire Protection Services 2,609 2,455
Electrical and Metal Products 1,681 1,441
Safety Products 1,427 1,272
Corporate and Other 3 3
Total Net Revenue $14,915 $13,525

OPERATING INCOME AND MARGIN
ADT Worldwide $710 11.9% $601 10.6%
Flow Control 466 14.4% 334 12.4%
Fire Protection Services 247 9.5% 178 7.3%
Electrical and Metal Products 254 15.1% 114 7.9%
Safety Products 219 15.3% 209 16.4%
Corporate and Other (384) N/M (3,565) N/M
Operating Income (Loss)
and Margin $1,512 10.1% $(2,129) -15.7%

TYCO INTERNATIONAL LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
(Unaudited)

June 27, March 28, September 28,
2008 2008 2007
Current Assets:
Cash and cash equivalents $1,342 $1,074 $1,894
Accounts receivable, net 3,207 3,092 2,900
Inventories 1,996 1,995 1,783
Class action settlement escrow - - 2,992
Other current assets 1,692 1,744 1,615
Assets held for sale 1,112 1,268 1,370
Total current assets 9,349 9,173 12,554

Property, plant and equipment, net 3,617 3,597 3,526
Goodwill 11,763 11,801 11,514
Intangible assets, net 2,611 2,596 2,653
Other assets 2,729 2,707 2,568
Total Assets $30,069 $29,874 $32,815

Current Liabilities:
Short-term debt and current
maturities of long-term debt $539 $525 $380
Accounts payable 1,555 1,490 1,637
Class action settlement liability - - 2,992
Accrued and other current liabilities 3,256 3,299 3,452
Liabilities held for sale 586 591 666
Total current liabilities 5,936 5,905 9,127

Long-term debt 4,070 3,977 4,082
Other liabilities 3,948 3,963 3,915
Total Liabilities 13,954 13,845 17,124

Minority interest 58 55 67

Shareholders' equity 16,057 15,974 15,624

Total Liabilities and Shareholders'
Equity $30,069 $29,874 $32,815

NOTE: These financial statements should be read in conjunction with the
Consolidated Financial Statements and accompanying notes contained in the
Company's Annual Report on Form 10-K for the fiscal year ended September
28, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended
March 28, 2008.

TYCO INTERNATIONAL LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(Unaudited)

Quarter Ended Nine Months Ended
June 27, June 29, June 27, June 29,
2008 2007 2008 2007
Cash Flows from Operating
Activities:
Net income $476 $(3,551) $1,119 $(1,923)
(Income) loss from discontinued
operations (277) 497 (288) (810)

Income from continuing operations 199 (3,054) 831 (2,733)
Adjustments to reconcile net cash
provided by operating activities:
Depreciation and amortization 288 275 854 867
Non-cash compensation expense 21 40 78 121
Deferred income taxes (10) 19 (115) (74)
Provision for losses on accounts
receivable and inventory 38 18 99 62
Loss on the retirement of debt 258 259 258 259
Goodwill impairment - 46 - 46
Other non-cash items 33 17 76 35
Changes in assets and liabilities,
net of the effects of
acquisitions and divestitures:
Accounts receivable, net (135) (141) (243) (208)
Inventories (24) 14 (173) (266)
Other current assets 33 (62) 9 101
Accounts payable 71 (32) (135) (83)
Accrued and other liabilities (33) (145) (357) (195)
Class action settlement
liability - 2,972 (3,020) 2,972
Income taxes, net (32) (198) (8) (230)
Other 5 72 (62) 137
Net cash provided by (used in)
operating activities 712 100 (1,908) 811
Net cash (used in) provided by
discontinued operating activities (29) 793 (25) 2,490

Cash Flows from Investing
Activities:
Capital expenditures (190) (172) (545) (471)
Proceeds from disposal of
assets 4 4 14 14
Acquisition of businesses, net
of cash acquired (65) (10) (92) (26)
Accounts purchased from ADT
dealer network (82) (97) (269) (273)
Liquidation of rabbi trust
investments - - - 271
Class action settlement escrow - (2,960) 2,960 (2,960)
Other 25 (7) 15 37
Net cash (used in) provided by
investing activities (308) (3,242) 2,083 (3,408)
Net cash provided by (used in)
discontinued investing activities 466 (287) 479 (792)

Cash Flows from Financing
Activities:
Net repayments of debt (240) (6,120) (200) (5,927)
Proceeds from exercise of
share options 19 176 40 388
Dividends paid (73) (396) (221) (791)
Repurchase of common shares by
subsidiary (279) - (756) (668)
Transfers from discontinued
operations 439 7,569 458 8,652
Other 2 8 (68) 21
Net cash (used in) provided by
financing activities (132) 1,237 (747) 1,675
Net cash (used in) provided by
discontinued financing activities (437) 62 (454) (1,016)

Effect of currency translation on
cash (4) 18 20 39
Effect of currency translation on
cash of discontinued operations - 14 - 33
Net increase (decrease) in cash and
cash equivalents 268 (1,305) (552) (168)
Less: net increase in cash related
to discontinued operations - (582) - (715)
Cash and cash equivalents at
beginning of period 1,074 3,197 1,894 2,193

Cash and cash equivalents at
end of period $1,342 $1,310 $1,342 $1,310

Reconciliation to "Free Cash Flow":
Net cash provided by (used in)
operating activities $712 $100 $(1,908) $811
Decrease in sale of accounts
receivable 2 3 12 6
Capital expenditures, net (186) (168) (531) (457)
Accounts purchased from ADT dealer
network (82) (97) (269) (273)
Purchase accounting and holdback
liabilities - (1) (2) (5)
Voluntary pension contributions - 5 1 23
Free Cash Flow $446 $(158) $(2,697) $105

NOTE: Free cash flow is a non-GAAP measure. See description of non-GAAP
measures contained in this release.

TYCO INTERNATIONAL LTD.
ORGANIC REVENUE GROWTH RECONCILIATION
(in millions)
(Unaudited)

Quarter Ended June 27, 2008
Foreign
Net Revenue Currency Other
ADT Worldwide $2,000 4.8% $55 2.9% $1 0.1%
Flow Control 1,132 15.3% 93 9.5% 5 0.5%
Fire Protection Services 919 8.4% 35 4.2% - 0.0%
Electrical and Metal Products 652 25.6% 12 2.3% - 0.0%
Safety Products 511 15.6% 22 5.0% (1) -0.3%
Corporate and Other 1 -50.0% - 0.0% - 0.0%
Total Net Revenue $5,215 10.9% $217 4.6% $5 0.1%

Net Revenue
for the
Quarter Ended
Organic Revenue June 29,
Growth 2007
ADT Worldwide $35 1.8% $1,909
Flow Control 52 5.3% 982
Fire Protection Services 36 4.2% 848
Electrical and Metal Products 121 23.3% 519
Safety Products 48 10.9% 442
Corporate and Other (1) -50.0% 2
Total Net Revenue $291 6.2% $4,702

Nine Months Ended June 27, 2008
Foreign
Net Revenue Currency Other
ADT Worldwide $5,965 5.4% $209 3.7% $(20) -0.4%
Flow Control 3,230 19.9% 270 10.0% 3 0.2%
Fire Protection Services 2,609 6.3% 114 4.7% - 0.0%
Electrical and Metal Products 1,681 16.7% 34 2.4% - 0.0%
Safety Products 1,427 12.2% 67 5.3% (2) -0.2%
Corporate and Other 3 0.0% - 0.0% - 0.0%
Total Net Revenue $14,915 10.3% $694 5.1% $(19) -0.1%

Net Revenue
for the Nine
Months Ended
Organic Revenue June 29,
Growth 2007
ADT Worldwide $117 2.1% $5,659
Flow Control 262 9.7% 2,695
Fire Protection Services 40 1.6% 2,455
Electrical and Metal Products 206 14.3% 1,441
Safety Products 90 7.1% 1,272
Corporate and Other - 0.0% 3
Total Net Revenue $715 5.3% $13,525

NOTE: Organic revenue growth is a non-GAAP measure. See description
of non-GAAP measures contained in this release.

TYCO INTERNATIONAL LTD.
EARNINGS PER SHARE SUMMARY
(Unaudited)
Year
Quarter Ended Ended

Dec. 29, March 30, June 29, Sept. 28, Sept. 28,
2006 2007 2007 2007 2007

Diluted EPS from
Continuing Operations $0.31 $0.33 ($6.17) $0.42 ($5.10)

Restructuring charges
in cost of sales
and SG&A - 0.00 0.00 0.01 0.01

Class action
settlement, net - - 5.83 (0.02) 5.81

Separation costs 0.07 0.10 0.69 0.08 0.93

Losses on divestitures - 0.00 0.00 - (0.00)

Restructuring and asset
impairment charges,
net 0.10 0.02 0.07 0.07 0.26

Goodwill impairment - - 0.09 - 0.09

Tax items - (0.12) - - (0.12)

Voluntary Replacement
Program - - - 0.01 0.01

Reserve Adjustment - - - - -

Legacy Legal Settlement - - - - -

Diluted EPS from Continuing
Operations Before
Special Items $0.48 $0.33 $0.51 $0.57 $1.89

Year to
Quarter Ended Date

Dec. 28, March 28, June 27, June 27,
2007 2008 2008 2008

Diluted EPS from Continuing
Operations $0.72 $0.56 $0.41 $1.70

Restructuring charges in cost of
sales and SG&A 0.01 0.01 0.01 0.02

Class action settlement, net - - (0.01) (0.01)

Separation costs (0.08) 0.01 0.39 0.32

Losses on divestitures - - 0.00 -

Restructuring and asset impairment
charges, net 0.02 0.06 0.06 0.14

Goodwill impairment - - - -

Tax items 0.04 0.00 - 0.04

Voluntary Replacement Program - - - -

Reserve Adjustment - (0.01) - (0.01)

Legacy Legal Settlement - 0.04 0.02 0.06

Diluted EPS from Continuing
Operations Before Special Items $0.71 $0.67 $0.88 $2.26

TYCO INTERNATIONAL LTD.
FOR THE QUARTER ENDED JUNE 27, 2008
(in millions, except per share data)
(Unaudited)

Fire Electrical Corp-
ADT Flow Protection & Metal Safety orate
Worldwide Control Services Products Products & Other Revenue

Revenue $2,000 $1,132 $919 $652 $511 $1 $5,215

Fire Electrical Corp- Oper-
ADT Flow Protection & Metal Safety orate ating
Worldwide Control Services Products Products & Other Income

Operating
Income $239 $152 $97 $141 $79 ($131) $577

Restructuring
charges in
cost of sales
and SG&A 2 (1) 2 3 6

Class action
settlement,
net (7) (7)

Separation
costs

Losses on
divestitures 1 1

Restructuring
and asset
impairment
charges,
net 31 1 1 3 9 1 46

Goodwill
impairment

Tax items

Voluntary
Replacement
Program

Reserve
Adjustment

Legacy Legal
Settlement 9 9

Operating
Income
Before
Special
Items $270 $155 $97 $146 $91 ($127) $632

Diluted
Income EPS
Interest Other from from
Expense, Expense, Income Minority Continuing Continuing
net net Taxes Interest Operations Operations

Operating
Income ($75) ($257) ($45) ($1) $199 $0.41

Restructuring
charges
in cost of
sales and
SG&A (1) 5 0.01

Class action
settlement,
net (7) (0.01)

Separation
costs 17 258 (83) 192 0.39

Losses on
divestitures 1 0.00

Restructuring
and asset
impairment
charges, net (16) 30 0.06

Goodwill
impairment

Tax items

Voluntary
Replacement
Program

Reserve
Adjustment

Legacy Legal
Settlement 9 0.02

Operating Income
Before
Special
Items ($58) $1 ($145) ($1) $429 $0.88

Diluted Shares Outstanding 486
Diluted Shares Outstanding - Before Special Items 486

SOURCE Tyco International Ltd.

News Media, Paul Fitzhenry, +1-609-720-4261, or Investor Relations, Ed
Arditte, +1-609-720-4621, or Antonella Franzen, +1-609-720-4665, all of Tyco
International Ltd.