Attached files
file | filename |
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8-K - 8-K - TE Connectivity Ltd. | a15-6502_28k.htm |
EX-99.2 - EX-99.2 - TE Connectivity Ltd. | a15-6502_2ex99d2.htm |
EX-99.3 - EX-99.3 - TE Connectivity Ltd. | a15-6502_2ex99d3.htm |
EX-99.4 - EX-99.4 - TE Connectivity Ltd. | a15-6502_2ex99d4.htm |
Exhibit 99.1
TE CONNECTIVITY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
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For the Quarters Ended |
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For the Years Ended |
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December 26, |
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September 26, |
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June 27, |
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March 28, |
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December 27, |
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September 27, |
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June 28, |
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March 29, |
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December 28, |
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September 26, |
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September 27, |
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2014 |
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2014 |
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2014 |
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2014 |
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2013 |
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2013 |
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2013 |
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2013 |
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2012 |
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2014 |
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2013 |
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(in millions, except per share data) |
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Net sales |
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$ |
3,049 |
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$ |
3,072 |
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$ |
3,075 |
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$ |
2,964 |
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$ |
2,862 |
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$ |
2,925 |
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$ |
2,941 |
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$ |
2,817 |
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$ |
2,707 |
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$ |
11,973 |
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$ |
11,390 |
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Cost of sales |
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2,029 |
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2,058 |
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2,057 |
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1,969 |
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1,917 |
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1,953 |
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1,993 |
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1,924 |
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1,869 |
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8,001 |
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7,739 |
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Gross margin |
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1,020 |
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1,014 |
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1,018 |
|
995 |
|
945 |
|
972 |
|
948 |
|
893 |
|
838 |
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3,972 |
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3,651 |
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Selling, general, and administrative expenses |
|
386 |
|
380 |
|
396 |
|
379 |
|
379 |
|
364 |
|
372 |
|
354 |
|
350 |
|
1,534 |
|
1,440 |
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Research, development, and engineering expenses |
|
160 |
|
150 |
|
147 |
|
145 |
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141 |
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144 |
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146 |
|
149 |
|
151 |
|
583 |
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590 |
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Acquisition and integration costs |
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24 |
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29 |
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1 |
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1 |
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3 |
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3 |
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3 |
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5 |
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31 |
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14 |
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Restructuring and other charges (credits), net |
|
25 |
|
4 |
|
10 |
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(1 |
) |
6 |
|
26 |
|
44 |
|
82 |
|
70 |
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19 |
|
222 |
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Operating income |
|
425 |
|
451 |
|
464 |
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471 |
|
419 |
|
435 |
|
383 |
|
305 |
|
262 |
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1,805 |
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1,385 |
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Interest income |
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5 |
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6 |
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4 |
|
4 |
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5 |
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4 |
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4 |
|
5 |
|
4 |
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19 |
|
17 |
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Interest expense |
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(34 |
) |
(34 |
) |
(28 |
) |
(31 |
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(34 |
) |
(32 |
) |
(35 |
) |
(36 |
) |
(36 |
) |
(127 |
) |
(139 |
) | |||||||||||
Other income (expense), net |
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(70 |
) |
6 |
|
9 |
|
16 |
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32 |
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16 |
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18 |
|
9 |
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(226 |
) |
63 |
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(183 |
) | |||||||||||
Income from continuing operations before income taxes |
|
326 |
|
429 |
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449 |
|
460 |
|
422 |
|
423 |
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370 |
|
283 |
|
4 |
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1,760 |
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1,080 |
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Income tax (expense) benefit |
|
109 |
|
185 |
|
(102 |
) |
(120 |
) |
(109 |
) |
(58 |
) |
(89 |
) |
(33 |
) |
255 |
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(146 |
) |
75 |
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Income from continuing operations |
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435 |
|
614 |
|
347 |
|
340 |
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313 |
|
365 |
|
281 |
|
250 |
|
259 |
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1,614 |
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1,155 |
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Income from discontinued operations, net of income taxes |
|
37 |
|
49 |
|
56 |
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22 |
|
40 |
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23 |
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54 |
|
27 |
|
18 |
|
167 |
|
122 |
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Net income |
|
472 |
|
663 |
|
403 |
|
362 |
|
353 |
|
388 |
|
335 |
|
277 |
|
277 |
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1,781 |
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1,277 |
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Less: net income attributable to noncontrolling interests |
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(1 |
) |
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(1 |
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Net income attributable to TE Connectivity Ltd. |
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$ |
472 |
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$ |
663 |
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$ |
403 |
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$ |
362 |
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$ |
353 |
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$ |
387 |
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$ |
335 |
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$ |
277 |
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$ |
277 |
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$ |
1,781 |
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$ |
1,276 |
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Amounts attributable to TE Connectivity Ltd.: |
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Income from continuing operations |
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$ |
435 |
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$ |
614 |
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$ |
347 |
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$ |
340 |
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$ |
313 |
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$ |
364 |
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$ |
281 |
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$ |
250 |
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$ |
259 |
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$ |
1,614 |
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$ |
1,154 |
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Income from discontinued operations |
|
37 |
|
49 |
|
56 |
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22 |
|
40 |
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23 |
|
54 |
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27 |
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18 |
|
167 |
|
122 |
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Net income |
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$ |
472 |
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$ |
663 |
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$ |
403 |
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$ |
362 |
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$ |
353 |
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$ |
387 |
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$ |
335 |
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$ |
277 |
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$ |
277 |
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$ |
1,781 |
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$ |
1,276 |
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Basic earnings per share attributable to TE Connectivity Ltd.: |
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Income from continuing operations |
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$ |
1.07 |
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$ |
1.50 |
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$ |
0.85 |
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$ |
0.83 |
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$ |
0.76 |
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$ |
0.88 |
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$ |
0.68 |
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$ |
0.60 |
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$ |
0.61 |
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$ |
3.94 |
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$ |
2.76 |
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Income from discontinued operations |
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0.09 |
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0.12 |
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0.14 |
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0.05 |
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0.10 |
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0.06 |
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0.13 |
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0.06 |
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0.04 |
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0.41 |
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0.29 |
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Net income |
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1.16 |
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1.62 |
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0.99 |
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0.88 |
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0.86 |
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0.94 |
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0.81 |
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0.66 |
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0.66 |
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4.34 |
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3.05 |
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Diluted earnings per share attributable to TE Connectivity Ltd.: |
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Income from continuing operations |
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$ |
1.05 |
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$ |
1.48 |
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$ |
0.83 |
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$ |
0.82 |
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$ |
0.75 |
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$ |
0.87 |
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$ |
0.67 |
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$ |
0.59 |
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$ |
0.61 |
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$ |
3.87 |
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$ |
2.73 |
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Income from discontinued operations |
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0.09 |
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0.12 |
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0.13 |
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0.05 |
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0.10 |
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0.05 |
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0.13 |
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0.06 |
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0.04 |
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0.40 |
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0.29 |
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Net income |
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1.14 |
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1.59 |
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0.97 |
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0.87 |
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0.84 |
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0.92 |
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0.80 |
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0.65 |
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0.65 |
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4.27 |
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3.02 |
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Weighted-average number of shares outstanding: |
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Basic |
|
407 |
|
409 |
|
409 |
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410 |
|
411 |
|
413 |
|
415 |
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420 |
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422 |
|
410 |
|
418 |
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Diluted |
|
413 |
|
416 |
|
416 |
|
417 |
|
418 |
|
420 |
|
421 |
|
424 |
|
426 |
|
417 |
|
423 |
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