Exhibit 99.1
TYCO ELECTRONICS LTD.
COMBINED STATEMENTS OF OPERATIONS
Fiscal Years Ended September 29, 2006, September 30, 2005, and September 30, 2004
|
| Fiscal |
| |||||||
|
| 2006 |
| 2005 |
| 2004 |
| |||
|
| (in millions) |
| |||||||
Net sales |
| $ | 12,300 |
| $ | 11,433 |
| $ | 10,608 |
|
Cost of sales |
| 8,999 |
| 8,334 |
| 7,584 |
| |||
Gross income |
| 3,301 |
| 3,099 |
| 3,024 |
| |||
Selling, general, and administrative expenses |
| 1,524 |
| 1,403 |
| 1,439 |
| |||
Restructuring and other charges (credits), net |
| 13 |
| (10 | ) | (34 | ) | |||
Goodwill impairment |
| 316 |
| — |
| — |
| |||
Gain on divestiture |
| — |
| (301 | ) | — |
| |||
Income from operations |
| 1,448 |
| 2,007 |
| 1,619 |
| |||
Interest income |
| 48 |
| 44 |
| 33 |
| |||
Interest expense |
| (256 | ) | (293 | ) | (344 | ) | |||
Other expense, net |
| — |
| (365 | ) | (102 | ) | |||
Income from continuing operations before income taxes and minority interest |
| 1,240 |
| 1,393 |
| 1,206 |
| |||
Income taxes |
| (46 | ) | (376 | ) | (438 | ) | |||
Minority interest |
| (6 | ) | (6 | ) | (10 | ) | |||
Income from continuing operations |
| 1,188 |
| 1,011 |
| 758 |
| |||
Income from discontinued operations, net of income taxes |
| 13 |
| 122 |
| 4 |
| |||
Income before cumulative effect of accounting change |
| 1,201 |
| 1,133 |
| 762 |
| |||
Cumulative effect of accounting change, net of income taxes |
| (8 | ) | 11 |
| — |
| |||
Net income |
| $ | 1,193 |
| $ | 1,144 |
| $ | 762 |
|