During the meeting, Tyco Electronics will confirm its third-quarter guidance of sales growth of 15 to 17 percent over prior-year sales of $3.3 billion, with organic sales growth of 7 to 9 percent. The company expects diluted earnings per share (EPS) from continuing operations of $0.63 to $0.65, which includes restructuring costs of approximately $0.03 per share. Adjusted EPS from continuing operations are expected to be $0.66 to $0.68, an increase of 35 to 39 percent over the prior-year quarter.
Individuals who are unable to attend the meeting in person will be able to view a webcast at Tyco Electronics' website: http://investors.tycoelectronics.com/. A replay of the presentations will be available at the same website until 11:59 p.m. EDT on July 3, 2008.
ABOUT TYCO ELECTRONICS
Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, undersea telecommunication systems and wireless systems, with 2007 sales of $13.0 billion to customers in more than 150 countries. We design, manufacture and market products for customers in industries from automotive, appliance and aerospace and defense to telecommunications, computers and consumer electronics. With over 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is our customers' advantage. More information on Tyco Electronics can be found at http://www.tycoelectronics.com/.
The difference between reported net sales growth (the most comparable GAAP measure) and organic sales growth (the non-GAAP measure) consists of the impact from foreign currency, acquisitions and divestitures. Please see Exhibit 99.1 to our Form 8-K filed on May 1, 2008 for further explanation of organic sales growth and adjusted EPS.