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