Telecom Lead Europe: TE Connectivity has reported
net sales of $3.25 billion in Q2 2012, up 3 percent compared to prior
year sales of $3.34 billion.
During Q2 2012, the company earned $1.45 billion revenue
from its transportation solution segment, $975 million from communications and
industrial solution segment and $817 million revenue from its network solutions
segment.
The company posted net income of $258 million for Q2
2012, against $300 million for the same quarter of 2011.
Total company orders were $3.3 billion in the
second quarter. The book-to-bill ratio was 1.01 overall, and 1.03 excluding the
Subsea Communications business.
In the third quarter, we expect sequential earnings
growth to exceed 15% due to double-digit sales increases in our CIS and
Networks segments and the addition of Deutsch. We anticipate operating margins
to be about 14 percent in the second half of our year and full year adjusted
earnings per share to be in the range of $2.88 to $2.98,” said TE
Connectivity Chief Executive Officer Tom Lynch.
For the third quarter, the company expects net sales
of $3.55 to $3.65 billion.
For the full year, the company expects sales
of $13.5 to $13.8 billion.
The company’s outlook assumes current foreign exchange and
commodity rates and includes the recently completed acquisition of Deutsch
Group. The company’s Touch Solutions and TE Professional Services businesses
are included in discontinued operations for all periods.
On April 10, 2012, the company announced the planned
divestiture of its Touch Solutions and TE Professional Services businesses.
Total proceeds are expected to be approximately $400 million and the
transactions are anticipated to close in the third fiscal quarter of 2012.
TE Connectivity closes acquisition of Deutsch Group SAS
Recently, TE Connectivity completed the acquisition of
Deutsch Group SAS. The acquisition will significantly expand TE’s product
portfolio.
Furthermore, the acquisition will enable the Company to
better serve customers in the Industrial and Commercial Transportation,
Aerospace and Defense, and Rail markets.
editor@telecomlead.com
