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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| March 27, |
| December 26, |
| September 26, |
| June 27, |
| March 28, |
| December 28, |
| September 26, |
| September 28, |
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| 2009 |
| 2008 |
| 2008 |
| 2008 |
| 2008 |
| 2007 |
| 2008 |
| 2007 |
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| (in millions, except per share data) |
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Net sales |
| $ | 2,337 |
| $ | 2,713 |
| $ | 3,576 |
| $ | 3,782 |
| $ | 3,549 |
| $ | 3,466 |
| $ | 14,373 |
| $ | 12,574 |
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Cost of sales |
| 1,803 |
| 1,989 |
| 2,568 |
| 2,683 |
| 2,481 |
| 2,468 |
| 10,200 |
| 8,855 |
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Gross income |
| 534 |
| 724 |
| 1,008 |
| 1,099 |
| 1,068 |
| 998 |
| 4,173 |
| 3,719 |
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Selling, general, and administrative expenses |
| 329 |
| 411 |
| 396 |
| 409 |
| 392 |
| 376 |
| 1,573 |
| 1,509 |
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Research, development, and engineering expenses |
| 131 |
| 144 |
| 155 |
| 152 |
| 145 |
| 141 |
| 593 |
| 532 |
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Pre-Separation litigation charges, net |
| 135 |
| 9 |
| (8 | ) | 7 |
| 23 |
| — |
| 22 |
| 887 |
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Separation costs |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| 44 |
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Restructuring and other charges, net |
| 189 |
| 77 |
| 157 |
| 16 |
| 25 |
| 21 |
| 219 |
| 92 |
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Impairment of goodwill |
| 3,547 |
| — |
| 103 |
| — |
| — |
| — |
| 103 |
| — |
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Income (loss) from operations |
| (3,797 | ) | 83 |
| 205 |
| 515 |
| 483 |
| 460 |
| 1,663 |
| 655 |
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Interest income |
| 3 |
| 6 |
| 7 |
| 6 |
| 9 |
| 10 |
| 32 |
| 53 |
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Interest expense |
| (41 | ) | (42 | ) | (46 | ) | (44 | ) | (50 | ) | (50 | ) | (190 | ) | (232 | ) | ||||||||
Other income (expense), net |
| 3 |
| (1 | ) | (39 | ) | 1 |
| 13 |
| 592 |
| 567 |
| (219 | ) | ||||||||
Income (loss) from continuing operations before income taxes and minority interest |
| (3,832 | ) | 46 |
| 127 |
| 478 |
| 455 |
| 1,012 |
| 2,072 |
| 257 |
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Income tax (expense) benefit |
| 594 |
| (14 | ) | (38 | ) | (191 | ) | (162 | ) | (149 | ) | (540 | ) | (465 | ) | ||||||||
Minority interest |
| (1 | ) | (2 | ) | (1 | ) | (2 | ) | (1 | ) | (1 | ) | (5 | ) | (6 | ) | ||||||||
Income (loss) from continuing operations |
| (3,239 | ) | 30 |
| 88 |
| 285 |
| 292 |
| 862 |
| 1,527 |
| (214 | ) | ||||||||
Income (loss) from discontinued operations, net of income taxes |
| 1 |
| (67 | ) | 114 |
| 45 |
| 9 |
| 87 |
| 255 |
| (340 | ) | ||||||||
Net income (loss) |
| $ | (3,238 | ) | $ | (37 | ) | $ | 202 |
| $ | 330 |
| $ | 301 |
| $ | 949 |
| $ | 1,782 |
| $ | (554 | ) |
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Basic earnings (loss) per share: |
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Income (loss) from continuing operations |
| $ | (7.07 | ) | $ | 0.07 |
| $ | 0.19 |
| $ | 0.60 |
| $ | 0.60 |
| $ | 1.74 |
| $ | 3.16 |
| $ | (0.43 | ) |
Income (loss) from discontinued operations |
| — |
| (0.15 | ) | 0.24 |
| 0.09 |
| 0.02 |
| 0.17 |
| 0.53 |
| (0.68 | ) | ||||||||
Net income (loss) |
| $ | (7.07 | ) | $ | (0.08 | ) | $ | 0.43 |
| $ | 0.69 |
| $ | 0.62 |
| $ | 1.91 |
| $ | 3.69 |
| $ | (1.11 | ) |
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Diluted earnings (loss) per share: |
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Income (loss) from continuing operations |
| $ | (7.07 | ) | $ | 0.07 |
| $ | 0.19 |
| $ | 0.59 |
| $ | 0.60 |
| $ | 1.73 |
| $ | 3.14 |
| $ | (0.43 | ) |
Income (loss) from discontinued operations |
| — |
| (0.15 | ) | 0.24 |
| 0.09 |
| 0.02 |
| 0.17 |
| 0.53 |
| (0.68 | ) | ||||||||
Net income (loss) |
| $ | (7.07 | ) | $ | (0.08 | ) | $ | 0.43 |
| $ | 0.68 |
| $ | 0.62 |
| $ | 1.90 |
| $ | 3.67 |
| $ | (1.11 | ) |
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Weighted-average number of shares outstanding: |
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Basic |
| 458 |
| 459 |
| 470 |
| 478 |
| 486 |
| 496 |
| 483 |
| 497 |
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Diluted |
| 458 |
| 461 |
| 473 |
| 482 |
| 489 |
| 499 |
| 486 |
| 497 |
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