Exhibit 99.1
TYCO ELECTRONICS LTD.
CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (UNAUDITED)
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| For the Quarters Ended |
| For the Years Ended |
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| Fiscal 2008 |
| Fiscal 2007 |
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| March 28, |
| December 28, |
| September 28, |
| June 29, |
| March 30, |
| December 29, |
| September 28, |
| September 29, |
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| 2008 |
| 2007 |
| 2007 |
| 2007 |
| 2007 |
| 2006 |
| 2007 |
| 2006 |
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| (in millions, except per share data) |
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Net sales |
| $ | 3,662 |
| $ | 3,558 |
| $ | 3,488 |
| $ | 3,292 |
| $ | 3,204 |
| $ | 2,975 |
| $ | 12,959 |
| $ | 11,811 |
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Cost of sales |
| 2,692 |
| 2,666 |
| 2,605 |
| 2,455 |
| 2,372 |
| 2,188 |
| 9,620 |
| 8,617 |
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Gross income |
| 970 |
| 892 |
| 883 |
| 837 |
| 832 |
| 787 |
| 3,339 |
| 3,194 |
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Selling, general, and administrative expenses |
| 421 |
| 399 |
| 402 |
| 403 |
| 405 |
| 390 |
| 1,600 |
| 1,445 |
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Settlement costs (income), net |
| 23 |
| — |
| (4 | ) | 891 |
| — |
| — |
| 887 |
| — |
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Separation costs |
| — |
| — |
| 19 |
| 25 |
| — |
| — |
| 44 |
| — |
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Restructuring and other charges, net |
| 25 |
| 21 |
| 50 |
| 25 |
| 8 |
| 9 |
| 92 |
| 7 |
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Income (loss) from operations |
| 501 |
| 472 |
| 416 |
| (507 | ) | 419 |
| 388 |
| 716 |
| 1,742 |
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Interest income |
| 9 |
| 10 |
| 13 |
| 11 |
| 14 |
| 15 |
| 53 |
| 48 |
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Interest expense |
| (49 | ) | (50 | ) | (56 | ) | (57 | ) | (58 | ) | (60 | ) | (231 | ) | (256 | ) | ||||||||
Other income (expense) |
| 13 |
| 592 |
| 13 |
| (232 | ) | — |
| — |
| (219 | ) | — |
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Income (loss) from continuing operations before income taxes and minority interest |
| 474 |
| 1,024 |
| 386 |
| (785 | ) | 375 |
| 343 |
| 319 |
| 1,534 |
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Income taxes |
| (171 | ) | (155 | ) | (144 | ) | (147 | ) | (93 | ) | (107 | ) | (491 | ) | (81 | ) | ||||||||
Minority interest |
| (1 | ) | (1 | ) | (3 | ) | (1 | ) | (1 | ) | (1 | ) | (6 | ) | (6 | ) | ||||||||
Income (loss) from continuing operations |
| 302 |
| 868 |
| 239 |
| (933 | ) | 281 |
| 235 |
| (178 | ) | 1,447 |
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Income (loss) from discontinued operations, net of income taxes |
| (1 | ) | 81 |
| 17 |
| (435 | ) | (4 | ) | 46 |
| (376 | ) | (246 | ) | ||||||||
Income (loss) before cumulative effect of accounting change |
| 301 |
| 949 |
| 256 |
| (1,368 | ) | 277 |
| 281 |
| (554 | ) | 1,201 |
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Cumulative effect of accounting change, net of income taxes |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| (8 | ) | ||||||||
Net income (loss) |
| $ | 301 |
| $ | 949 |
| $ | 256 |
| $ | (1,368 | ) | $ | 277 |
| $ | 281 |
| $ | (554 | ) | $ | 1,193 |
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Basic earnings per share: |
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Income (loss) from continuing operations |
| $ | 0.62 |
| $ | 1.75 |
| $ | 0.48 |
| $ | (1.88 | ) | $ | 0.57 |
| $ | 0.47 |
| $ | (0.36 | ) | $ | 2.91 |
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Income (loss) from discontinued operations |
| — |
| 0.16 |
| 0.04 |
| (0.87 | ) | (0.01 | ) | 0.10 |
| (0.75 | ) | (0.49 | ) | ||||||||
Income (loss) before cumulative effect of accounting change |
| 0.62 |
| 1.91 |
| 0.52 |
| (2.75 | ) | 0.56 |
| 0.57 |
| (1.11 | ) | 2.42 |
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Cumulative effect of accounting change |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| (0.02 | ) | ||||||||
Net income (loss) |
| $ | 0.62 |
| $ | 1.91 |
| $ | 0.52 |
| $ | (2.75 | ) | $ | 0.56 |
| $ | 0.57 |
| $ | (1.11 | ) | $ | 2.40 |
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Diluted earnings per share: |
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Income (loss) from continuing operations |
| $ | 0.62 |
| $ | 1.74 |
| $ | 0.48 |
| $ | (1.88 | ) | $ | 0.57 |
| $ | 0.47 |
| $ | (0.36 | ) | $ | 2.91 |
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Income (loss) from discontinued operations |
| — |
| 0.16 |
| 0.03 |
| (0.87 | ) | (0.01 | ) | 0.10 |
| (0.75 | ) | (0.49 | ) | ||||||||
Income (loss) before cumulative effect of accounting change |
| 0.62 |
| 1.90 |
| 0.51 |
| (2.75 | ) | 0.56 |
| 0.57 |
| (1.11 | ) | 2.42 |
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Cumulative effect of accounting change |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| (0.02 | ) | ||||||||
Net income (loss) |
| $ | 0.62 |
| $ | 1.90 |
| $ | 0.51 |
| $ | (2.75 | ) | $ | 0.56 |
| $ | 0.57 |
| $ | (1.11 | ) | $ | 2.40 |
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Weighted-average number of shares outstanding: |
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Basic |
| 486 |
| 496 |
| 496 |
| 497 |
| 497 |
| 497 |
| 497 |
| 497 |
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Diluted |
| 489 |
| 499 |
| 500 |
| 497 |
| 497 |
| 497 |
| 497 |
| 497 |
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