Attached files
file | filename |
---|---|
8-K - 8-K - TE Connectivity Ltd. | a12-8927_18k.htm |
EX-99.3 - EX-99.3 - TE Connectivity Ltd. | a12-8927_1ex99d3.htm |
EX-99.2 - EX-99.2 - TE Connectivity Ltd. | a12-8927_1ex99d2.htm |
Exhibit 99.1
TE CONNECTIVITY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
|
|
For the Quarters Ended |
|
For the Years Ended |
| |||||||||||||||||
|
|
December 30, |
|
September 30, |
|
June 24, |
|
March 25, |
|
December 24, |
|
September 30, |
|
September 24, |
| |||||||
|
|
2011 |
|
2011 |
|
2011 |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
| |||||||
|
|
(in millions, except per share data) |
| |||||||||||||||||||
Net sales |
|
$ |
3,170 |
|
$ |
3,753 |
|
$ |
3,579 |
|
$ |
3,339 |
|
$ |
3,107 |
|
$ |
13,778 |
|
$ |
11,681 |
|
Cost of sales |
|
2,227 |
|
2,569 |
|
2,491 |
|
2,331 |
|
2,116 |
|
9,507 |
|
8,038 |
| |||||||
Gross margin |
|
943 |
|
1,184 |
|
1,088 |
|
1,008 |
|
991 |
|
4,271 |
|
3,643 |
| |||||||
Selling, general, and administrative expenses |
|
383 |
|
467 |
|
441 |
|
431 |
|
389 |
|
1,728 |
|
1,490 |
| |||||||
Research, development, and engineering expenses |
|
177 |
|
194 |
|
178 |
|
173 |
|
156 |
|
701 |
|
563 |
| |||||||
Acquisition and integration costs |
|
4 |
|
|
|
1 |
|
1 |
|
17 |
|
19 |
|
8 |
| |||||||
Restructuring and other charges, net |
|
18 |
|
78 |
|
8 |
|
11 |
|
39 |
|
136 |
|
137 |
| |||||||
Pre-separation litigation income |
|
|
|
|
|
|
|
|
|
|
|
|
|
(7 |
) | |||||||
Operating income |
|
361 |
|
445 |
|
460 |
|
392 |
|
390 |
|
1,687 |
|
1,452 |
| |||||||
Interest income |
|
5 |
|
6 |
|
5 |
|
6 |
|
5 |
|
22 |
|
20 |
| |||||||
Interest expense |
|
(39 |
) |
(44 |
) |
(39 |
) |
(43 |
) |
(35 |
) |
(161 |
) |
(155 |
) | |||||||
Other income (expense), net |
|
1 |
|
14 |
|
(5 |
) |
6 |
|
12 |
|
27 |
|
177 |
| |||||||
Income from continuing operations before income taxes |
|
328 |
|
421 |
|
421 |
|
361 |
|
372 |
|
1,575 |
|
1,494 |
| |||||||
Income tax expense |
|
(88 |
) |
(100 |
) |
(70 |
) |
(69 |
) |
(108 |
) |
(347 |
) |
(476 |
) | |||||||
Income from continuing operations |
|
240 |
|
321 |
|
351 |
|
292 |
|
264 |
|
1,228 |
|
1,018 |
| |||||||
Income from discontinued operations, net of income taxes |
|
22 |
|
6 |
|
6 |
|
8 |
|
2 |
|
22 |
|
91 |
| |||||||
Net income |
|
262 |
|
327 |
|
357 |
|
300 |
|
266 |
|
1,250 |
|
1,109 |
| |||||||
Less: net income attributable to noncontrolling interests |
|
(2 |
) |
(1 |
) |
(2 |
) |
(1 |
) |
(1 |
) |
(5 |
) |
(6 |
) | |||||||
Net income attributable to TE Connectivity Ltd. |
|
$ |
260 |
|
$ |
326 |
|
$ |
355 |
|
$ |
299 |
|
$ |
265 |
|
$ |
1,245 |
|
$ |
1,103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Amounts attributable to TE Connectivity Ltd.: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Income from continuing operations |
|
$ |
238 |
|
$ |
320 |
|
$ |
349 |
|
$ |
291 |
|
$ |
263 |
|
$ |
1,223 |
|
$ |
1,012 |
|
Income from discontinued operations |
|
22 |
|
6 |
|
6 |
|
8 |
|
2 |
|
22 |
|
91 |
| |||||||
Net income |
|
$ |
260 |
|
$ |
326 |
|
$ |
355 |
|
$ |
299 |
|
$ |
265 |
|
$ |
1,245 |
|
$ |
1,103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Basic earnings per share attributable to TE Connectivity Ltd.: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Income from continuing operations |
|
$ |
0.56 |
|
$ |
0.75 |
|
$ |
0.80 |
|
$ |
0.66 |
|
$ |
0.59 |
|
$ |
2.79 |
|
$ |
2.23 |
|
Income from discontinued operations |
|
0.05 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.05 |
|
0.20 |
| |||||||
Net income |
|
$ |
0.61 |
|
$ |
0.76 |
|
$ |
0.81 |
|
$ |
0.67 |
|
$ |
0.60 |
|
$ |
2.84 |
|
$ |
2.43 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Diluted earnings per share attributable to TE Connectivity Ltd.: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Income from continuing operations |
|
$ |
0.55 |
|
$ |
0.74 |
|
$ |
0.79 |
|
$ |
0.65 |
|
$ |
0.59 |
|
$ |
2.76 |
|
$ |
2.21 |
|
Income from discontinued operations |
|
0.06 |
|
0.01 |
|
0.01 |
|
0.02 |
|
|
|
0.05 |
|
0.20 |
| |||||||
Net income |
|
$ |
0.61 |
|
$ |
0.75 |
|
$ |
0.80 |
|
$ |
0.67 |
|
$ |
0.59 |
|
$ |
2.81 |
|
$ |
2.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Weighted-average number of shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Basic |
|
425 |
|
429 |
|
437 |
|
443 |
|
444 |
|
438 |
|
453 |
| |||||||
Diluted |
|
429 |
|
433 |
|
442 |
|
449 |
|
449 |
|
443 |
|
457 |
|