NEW YORK (AP) -- Strength across all business segments pushed Swiss manufacturer Tyco International Ltd.'s revenue higher in the fiscal third quarter. Its net income fell 33 percent due to some charges, but its adjusted results topped analysts' estimates.
Tyco, which is in the process of splitting itself into three separate companies, reported Tuesday that its net income fell to $242 million, or 51 cents per share, for the period ended June 29 from $359 million, or 76 cents per share, a year ago.
Removing a charge tied to asbestos liabilities, separation costs and other items, earnings from continuing operations were $1.01 per share.
Analysts predicted earnings of 93 cents per share, according to a FactSet poll.
Revenue increased 4 percent to $4.46 billion from $4.29 billion. But Wall Street expected higher revenue of $4.53 billion.
The stronger dollar weighed on Tyco's performance, pulling revenue down by 4 percent.
When the U.S. dollar is rising against the world's other currencies, companies that sell goods internationally take a hit when converting revenue in foreign currencies back into the dollar.
Revenue for its ADT security business, flow control unit and fire and safety segment climbed.
Tyco said Tuesday that its separation plans are still on target to be completed at September's end. The company said in March that it would combine its flow control business with those of Pentair Inc. in an all-stock deal worth about $4.53 billion, uniting two of the biggest players in water and fluid products systems.
