Tyco Electronics Reports Strong Fiscal Second Quarter Results

Second Quarter Results

- Net Sales of $2.96 Billion Increased 27 Percent Year-Over-Year and 2 Percent Sequentially

- GAAP Operating Income of $398 Million; Adjusted Operating Income of $410 Million, Up From $72 Million in Prior-Year Period and a 24 Percent Increase Sequentially; Adjusted Operating Margin of 13.9 Percent

- Diluted Earnings Per Share From Continuing Operations (GAAP EPS) of $0.66; Adjusted EPS of $0.64, Up From $0.14 in Prior-Year Period and a 36 Percent Increase Sequentially

- Cash From Continuing Operations of $500 Million; Free Cash Flow of $422 Million

Third Quarter and Full Year Outlook

- Company Expects Third Quarter Sales of $3.0 to $3.1 Billion, Up 20 to 24 Percent Year-Over-Year

- Third Quarter GAAP EPS Expected to be $0.56 to $0.60; Adjusted EPS Expected to be $0.61 to $0.65, Compared to $0.17 in Prior-Year Quarter

- Full Year Sales Expected to be $11.8 to $12.0 Billion, Up 15 to 17 Percent Year-Over-Year

- Full Year GAAP EPS Expected to be $2.12 to $2.20; Adjusted EPS Expected to be $2.32 to $2.40, Compared to $0.83 in the Prior Year

Apr 28, 2010

SCHAFFHAUSEN, Switzerland, April 28 /PRNewswire-FirstCall/ -- Tyco Electronics Ltd. (NYSE:TEL) today reported results for the fiscal second quarter ended Mar. 26, 2010. The company reported a net sales increase of 27 percent year-over-year, and 2 percent sequentially, to $2.96 billion. GAAP EPS were $0.66 for the quarter, compared to a loss per share of $7.07 in the prior-year period. Included in the GAAP EPS were $0.02 per share of restructuring and other charges and $0.04 per share of income related to tax items. This compares to $7.21 per share of net charges in the prior-year quarter. Adjusted EPS were $0.64 in the quarter, compared to $0.14 in the prior-year quarter.

"We had an outstanding second quarter," said Tyco Electronics Chief Executive Officer Tom Lynch. "Sales were up 27 percent year-over-year as we capitalized on continued strength in the consumer markets served by our Electronic Components segment. We improved our adjusted operating margin to 13.9 percent and generated a half billion dollars of cash from operations, with $422 million of free cash flow.

"I am encouraged by the strength of demand in most of our end markets and pleased with our progress in improving operating margins. We now expect sales to be in the $3.0 to $3.1 billion range per quarter for the balance of the year, and expect our operating margins to remain above 13 percent in the second half of the year."

The following discussion includes non-GAAP financial measures which are described at the end of this press release. For a reconciliation of these non-GAAP financial measures, see the attached tables. All dollar amounts are pre-tax and stated in millions.

                          Mar. 26,     Dec. 25,    Mar. 27,
      ($ in millions)     2010         2009        2009
                         ---------    ---------   ---------
  Net Sales                   $2,957      $2,892      $2,337
  Operating Income
   (Loss)                       $398        $269     $(3,797)
  Restructuring and
   Other Charges                $(12)       $(63)      $(187)
  Impairment of
   Goodwill                       $0          $0     $(3,547)
  Other Items                     $0          $0       $(135)
                                 ---         ---       -----
  Adjusted Operating
   Income                       $410        $332         $72
  Operating Margin              13.5%        9.3%         NM
  Adjusted Operating
   Margin                       13.9%       11.5%        3.1%





                         % Change     % Change
      ($ in millions)     Sequential     YoY
                          ----------     ---
  Net Sales                        2%       27%
  Operating Income
   (Loss)                         48%       NM
  Restructuring and
   Other Charges
  Impairment of
   Goodwill
  Other Items
  Adjusted Operating
   Income                         24%      469%
  Operating Margin
  Adjusted Operating
   Margin


Sales grew 27 percent compared to the prior-year quarter and 2 percent sequentially. Organically, sales increased 23 percent compared to the prior year and 5 percent sequentially. By segment, and on an organic basis, sales in the Electronic Components segment increased 7 percent sequentially, with broad-based growth in consumer and industrial markets. Sales in the Specialty Products segment grew 6 percent sequentially, primarily reflecting growth in aerospace and defense and touch systems markets. Sales declined 1 percent sequentially in the Network Solutions segment due to a seasonal decline in the energy market. In the Subsea Communications segment, sales increased 4 percent sequentially.

The adjusted operating margin improved to 13.9 percent, compared to 11.5 percent in the prior quarter and 3.1 percent a year ago. The year-over-year operating margin improvement was due to volume increases in Electronic Components, productivity gains, cost reductions initiated in 2009 and a favorable sales mix.

CASH FLOW

Cash from continuing operations was $500 million during the quarter, compared to $461 million in the year-ago period. Free cash flow was $422 million, compared to $370 million in the prior-year period. The increase in free cash flow was primarily driven by higher income levels.

ORDERS

Total company orders increased 51 percent compared to the prior year and 3 percent sequentially. The book-to-bill ratio was 1.03 in the quarter. Excluding the company's Subsea Communications segment, which is a project-oriented business with uneven order patterns, orders increased 56 percent year-over-year and 3 percent sequentially and the book-to-bill ratio was 1.10.

ADDITIONAL ITEM

At the company's Annual General Meeting of Shareholders held on March 10, 2010, shareholders approved a quarterly dividend of $0.16 per share for the four fiscal quarters beginning with the third quarter of 2010, subject to required filings with the Swiss Commercial Register.

THIRD QUARTER AND FULL YEAR FISCAL 2010 OUTLOOK

For the third quarter, the company expects sales of $3.0 to $3.1 billion, an increase of 20 to 24 percent over the prior-year period. GAAP operating income is expected to be $365 to $390 million, which includes restructuring and other charges of approximately $30 million. Adjusted operating income is expected to be $395 to $420 million. GAAP EPS are expected to be $0.56 to $0.60, including restructuring and other charges of approximately $0.05 per share. Adjusted EPS are expected to be $0.61 to $0.65, compared to adjusted EPS of $0.17 in the prior-year period.

For the full fiscal year, the company expects sales of $11.8 to $12.0 billion, an increase of 15 to 17 percent over the prior year. GAAP EPS are expected to be $2.12 to $2.20, including restructuring and other charges of approximately $0.20 per share. Adjusted EPS are expected to be $2.32 to $2.40, compared to adjusted EPS of $0.83 in the prior-year period. This outlook assumes current foreign exchange rates.

ABOUT TYCO ELECTRONICS

Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, specialty products and subsea communication systems, with fiscal 2009 sales of $10.3 billion to customers in more than 150 countries. We design, manufacture and market products for customers in a broad array of industries including automotive; data communication systems and consumer electronics; telecommunications; aerospace, defense and marine; medical; energy; and lighting. With approximately 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/.

  CONFERENCE CALL AND WEBCAST
  --  The company will hold a conference call for investors today beginning
      at 8:30 a.m. EDT.
  --  Internet users will be able to access the company's earnings webcast,
      including slide materials, at the "Investors" section of Tyco
      Electronics' website: http://investors.tycoelectronics.com/.
  --  For both "listen-only" telephone participants and those participants
      who wish to take part in the question-and-answer portion of the call,
      the dial-in number in the United States is (800) 230-1092.  The
      telephone dial-in number for participants outside the United States is
      (612) 288-0337.
  --  An audio replay of the conference call will be available beginning at
      10:30 a.m. on April 28, 2010 and ending at 11:59 p.m. on May 5, 2010. 
      The dial-in number for participants in the United States is (800)
      475-6701.  For participants outside the United States, the replay
      dial-in number is (320) 365-3844. The replay access code for all
      callers is 148770.


  NON-GAAP MEASURES

"Organic Sales Growth," "Adjusted Operating Income," "Adjusted Operating Margin," "Adjusted Other Income, Net," "Adjusted Income Tax (Expense) Benefit," "Adjusted Income from Continuing Operations," "Adjusted Earnings Per Share," and "Free Cash Flow" (FCF) are non-GAAP measures and should not be considered replacements for GAAP results.

"Organic Sales Growth" is a useful measure used by the company to measure the underlying results and trends in the business. 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. Organic Sales Growth is a useful measure of the company's performance because it excludes items that: i) are not completely under management's control, such as the impact of foreign currency exchange; or ii) do not reflect the underlying growth of the company, such as acquisition and divestiture activity. The limitation of this measure is that it excludes items that have an impact on the company's sales. This limitation is best addressed by using organic sales growth in combination with the GAAP results. See the accompanying tables to this press release for the reconciliation presenting the components of Organic Sales Growth.

The company has presented its operating income before special items including charges related to legal settlements and reserves, restructuring charges, impairment charges, and other income or charges ("Adjusted Operating Income"). The company utilizes Adjusted Operating Income to assess segment level core operating performance and to provide insight to management in evaluating segment operating plan execution and underlying market conditions. It is also a significant component in the company's incentive compensation plans. Adjusted Operating Income is a useful measure for investors because it better reflects the company's underlying operating results, trends and the comparability of these results between periods. The difference between Adjusted Operating Income and operating income (the most comparable GAAP measure) consists of the impact of charges related to legal settlements and reserves, restructuring charges, impairment charges, and other income or charges that may mask the underlying operating results and/or business trends. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease the company's reported operating income. This limitation is best addressed by using Adjusted Operating Income in combination with operating income (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease on reported results.

The company has presented its operating margin before special items including charges related to legal settlements and reserves, restructuring charges, impairment charges, and other income or charges ("Adjusted Operating Margin"). The company presents Adjusted Operating Margin before special items to give investors a perspective on the underlying business results. Because the company cannot predict the amount and timing of such items and the associated charges or gains that will be recorded in the company's financial statements, it is difficult to include the impact of those items in the forecast.

The company has presented other income, net before special items including tax sharing income related to certain proposed adjustments to prior period tax returns ("Adjusted Other Income, Net"). The company presents Adjusted Other Income, Net as it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP. The difference between Adjusted Other Income, Net and other income, net (the most comparable GAAP measure) consists of tax sharing income related to certain proposed adjustments to prior period tax returns. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease other income, net. This limitation is best addressed by using Adjusted Other Income, Net in combination with other income, net (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts.

The company has presented income tax (expense) benefit after adjusting for the tax effect of special items including charges related to restructuring, impairment charges, and other income or charges, and certain significant special tax items ("Adjusted Income Tax (Expense) Benefit"). The company presents Adjusted Income Tax (Expense) Benefit to provide investors further information regarding the tax effects of adjustments used in determining the non-GAAP financial measure Adjusted Income from Continuing Operations (as defined below). The difference between Adjusted Income Tax (Expense) Benefit and income tax (expense) benefit (the most comparable GAAP measure) is the tax effect of adjusting items and certain significant special tax items. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease income tax (expense) benefit. This limitation is best addressed by using Adjusted Income Tax (Expense) Benefit in combination with income tax (expense) benefit (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts.

The company has presented income from continuing operations attributable to Tyco Electronics Ltd. before special items including charges related to legal settlements and reserves, restructuring charges, impairment charges, tax sharing income related to certain proposed adjustments to prior period tax returns, certain significant special tax items, other income or charges, and, if applicable, related tax effects ("Adjusted Income from Continuing Operations"). The company presents Adjusted Income from Continuing Operations as it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP. Adjusted Income from Continuing Operations provides additional information regarding the company's underlying operating results, trends and the comparability of these results between periods. The difference between Adjusted Income from Continuing Operations and income from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) consists of the impact of charges related to legal settlements and reserves, restructuring charges, impairment charges, tax sharing income related to certain proposed adjustments to prior period tax returns, certain significant special tax items, other income or charges, and, if applicable, related tax effects. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease the company's reported results. This limitation is best addressed by using Adjusted Income from Continuing Operations in combination with income from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts.

The company has presented diluted earnings per share from continuing operations attributable to Tyco Electronics Ltd. before special items, including charges related to legal settlements and reserves, restructuring charges, impairment charges, tax sharing income related to certain proposed adjustments to prior period tax returns, certain significant special tax items, other income or charges, and, if applicable, related tax effects ("Adjusted Earnings Per Share"). The company presents Adjusted Earnings Per Share because it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP. The company believes such a measure provides a picture of its results that is more comparable among periods since it excludes the impact of special items, which may recur, but tend to be irregular as to timing, thereby making comparisons between periods more difficult. This limitation is best addressed by using Adjusted Earnings Per Share in combination with diluted earnings per share from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease on reported results.

"Free Cash Flow" (FCF) is a useful measure of the company's cash generation which is free from any significant existing obligation. The difference between cash flows from operating activities (the most comparable GAAP measure) and FCF (the non-GAAP measure) consists mainly of significant cash outflows that the company believes are useful to identify. FCF permits management and investors to gain insight into the amount that management employs to measure cash that is free from any significant existing obligation. The difference reflects the impact from:

  --  net capital expenditures,
  --  voluntary pension contributions, and
  --  cash impact of special items.

Net capital expenditures are subtracted because they represent long-term commitments. Voluntary pension contributions are subtracted from the GAAP measure because this activity is driven by economic financing decisions rather than operating activity. The company forecasts its cash flow results excluding any voluntary pension contributions because it has not yet made a determination about the amount and timing of any future such contributions. In addition, the company's forecast excludes the cash impact of special items because the company cannot predict the amount and timing of such items.

The limitation associated with using FCF is that it subtracts cash items that are ultimately within management's and the Board of Directors' discretion to direct and that therefore may imply that there is less or more cash that is available for the company's programs than the most comparable GAAP measure. This limitation is best addressed by using FCF in combination with the GAAP cash flow results.

FCF as presented herein may not be comparable to similarly-titled measures reported by other companies. The measure should be used in conjunction with other GAAP financial measures. Investors are urged to read the company's financial statements as filed with the Securities and Exchange Commission, as well as the accompanying tables to this press release that show all the elements of the GAAP measures of Cash Flows from Operating Activities, Cash Flows from Investing Activities, Cash Flows from Financing Activities and a reconciliation of the company's total cash and cash equivalents for the period. See the accompanying tables to this press release for a cash flow statement presented in accordance with GAAP and a reconciliation presenting the components of FCF.

Because the company does not predict the amount and timing of special items that might occur in the future, and its forecasts are developed at a level of detail different than that used to prepare GAAP-based financial measures, the company does not provide reconciliations to GAAP of its forward-looking financial measures.

FORWARD-LOOKING STATEMENTS

This release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. Tyco Electronics has no intention and is under no obligation to update or alter (and expressly disclaims any such intention or obligation to do so) its forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this release include statements addressing our future financial condition and operating results. Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, business, economic, competitive and regulatory risks, such as developments in the credit markets; conditions affecting demand for products, particularly the automotive industry and the telecommunications, computer and consumer electronics industries; future goodwill impairment; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; political, economic and military instability in countries in which we operate; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation. More detailed information about these and other factors is set forth in Tyco Electronics' Annual Report on Form 10-K for the fiscal year ended Sept. 25, 2009 and Quarterly Report on Form 10-Q for the quarterly period ended Dec. 25, 2009, as well as in Tyco Electronics' Current Reports on Form 8-K and other reports filed by Tyco Electronics with the Securities and Exchange Commission.

                      TYCO ELECTRONICS LTD.
   CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

                           For the Quarters             For the Six Months
                                Ended                         Ended
                           ----------------         ------------------
                        March         March         March         March
                         26,           27,           26,           27,
                          2010          2009          2010          2009
                          ----          ----          ----          ----
                              (in millions, except per share data)

  Net sales             $2,957        $2,337        $5,849        $5,050
  Cost of sales          1,999         1,803         4,050         3,792
                         -----         -----         -----         -----
    Gross margin           958           534         1,799         1,258
  Selling, general,
   and
   administrative
   expenses                406           329           774           740
  Research,
   development, and
   engineering
   expenses                142           131           280           275
  Pre-separation
   litigation
   charges, net              -           135             -           144
  Restructuring and
   other charges,
   net                      12           189            78           266
  Impairment of
   goodwill                  -         3,547             -         3,547
     Operating income
      (loss)               398        (3,797)          667        (3,714)
  Interest income            6             3            10             9
  Interest expense         (38)          (41)          (77)          (83)
  Other income, net         75             3            83             2
                           ---           ---           ---           ---
     Income (loss) from
      continuing
      operations before
      income taxes         441        (3,832)          683        (3,786)
  Income tax
   (expense) benefit      (135)          594          (204)          580
                          ----           ---          ----           ---
     Income (loss) from
      continuing
      operations           306        (3,238)          479        (3,206)
  Income (loss) from
   discontinued
   operations, net
   of income taxes           -             1             -           (66)
                           ---           ---           ---           ---
     Net income (loss)     306        (3,237)          479        (3,272)
  Less: net income
   attributable to
   noncontrolling
   interests                (2)           (1)           (3)           (3)
                           ---           ---           ---           ---
    Net income (loss)
     attributable to
     Tyco Electronics
     Ltd.                 $304       $(3,238)         $476       $(3,275)
                          ====       =======          ====       =======

  Amounts
   attributable to
   Tyco Electronics
   Ltd.:
    Income (loss) from
     continuing
     operations           $304       $(3,239)         $476       $(3,209)
    Income (loss) from
     discontinued
     operations              -             1             -           (66)
                           ---           ---           ---           ---
    Net income (loss)     $304       $(3,238)         $476       $(3,275)
                          ====       =======          ====       =======

  Basic earnings
   (loss) per share
   attributable to
   Tyco Electronics
   Ltd.:
     Income (loss) from
      continuing
      operations         $0.67        $(7.07)        $1.04        $(6.99)
     Income (loss) from
      discontinued
      operations             -             -             -         (0.15)
                           ---           ---           ---         -----
     Net income (loss)   $0.67        $(7.07)        $1.04        $(7.14)
                         =====        ======         =====        ======

  Diluted earnings
   (loss) per share
   attributable to
   Tyco Electronics
   Ltd.:
     Income (loss) from
      continuing
      operations         $0.66        $(7.07)        $1.03        $(6.99)
     Income (loss) from
      discontinued
      operations             -             -             -         (0.15)
                           ---           ---           ---         -----
     Net income (loss)   $0.66        $(7.07)        $1.03        $(7.14)
                         =====        ======         =====        ======

  Weighted-average
   number of shares
   outstanding:
     Basic                 457           458           458           459
     Diluted               461           458           461           459




                               TYCO ELECTRONICS LTD.
                 CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

                                                           September
                                          March 26,           25,
                                               2010              2009
                                               ----              ----
                                               (in millions, except
                                                    share data)
  Assets
  Current Assets:
    Cash and cash equivalents                $1,839            $1,521
    Accounts receivable, net of
     allowance for doubtful accounts of
     $41 and $48, respectively                2,042             1,975
    Inventories                               1,550             1,435
    Prepaid expenses and other current
     assets                                     527               487
    Deferred income taxes                       153               161
                                                ---               ---
      Total current assets                    6,111             5,579
  Property, plant, and equipment, net         2,896             3,111
  Goodwill                                    3,175             3,160
  Intangible assets, net                        397               407
  Deferred income taxes                       2,539             2,518
  Receivable from Tyco International
   Ltd. and Covidien plc                      1,210             1,211
  Other assets                                  224               234
                                                ---
      Total Assets                          $16,552           $16,220
                                            =======           =======

  Liabilities and Shareholders' Equity
  Current Liabilities:
    Current maturities of long-term
     debt                                      $101              $101
    Accounts payable                          1,304             1,068
    Accrued and other current
     liabilities                              1,713             1,243
    Deferred revenue                            162               203
                                                ---               ---
      Total current liabilities               3,280             2,615
  Long-term debt                              2,313             2,316
  Long-term pension and
   postretirement liabilities                 1,089             1,129
  Deferred income taxes                         174               188
  Income taxes                                2,365             2,312
  Other liabilities                             535               634
                                                ---
    Total Liabilities                         9,756             9,194
                                              -----             -----
  Commitments and contingencies
  Shareholders' Equity:
    Common shares, 468,215,574 shares
     authorized and issued, CHF 2.09 par
     value, at March 26, 2010;
     468,215,574 shares authorized and
     issued, CHF 2.43 par value, at
     September 25, 2009                         599          1,049
    Contributed surplus                       8,137             8,135
    Accumulated deficit                      (1,798)           (2,274)
    Treasury shares, at cost, 14,699,794
     and 9,425,172 shares, respectively        (467)             (349)
    Accumulated other comprehensive
     income                                     317               455
                                                ---               ---
      Total Tyco Electronics Ltd.
       shareholders' equity                   6,788             7,016
    Noncontrolling interests                      8                10
                                                ---               ---
      Total Shareholders' Equity              6,796             7,026
                                              -----             -----
      Total Liabilities and Shareholders'
       Equity                               $16,552           $16,220
                                            =======           =======




                                    TYCO ELECTRONICS LTD.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                         For the Quarters
                                                              Ended
                                                         ----------------
                                                      March         March
                                                       26,           27,
                                                        2010          2009
                                                        ----          ----
                                                          (in millions)
  Cash Flows From Operating Activities:
  Net income (loss)                                     $306       $(3,237)
      (Income) loss from discontinued operations, net
       of income taxes                                     -            (1)
                                                         ---           ---
  Income (loss) from continuing operations               306        (3,238)
  Adjustments to reconcile net cash provided by
   operating activities:
    Impairment of goodwill                                 -         3,547
    Non-cash restructuring and other charges, net         (3)           13
    Depreciation and amortization                        128           125
    Deferred income taxes                                102          (609)
    Provision for losses on accounts receivable and
     inventories                                           5            11
    Tax sharing income                                   (75)           (3)
    Other                                                 18            16
    Changes in assets and liabilities, net of the
     effects of acquisitions and divestitures:
      Accounts receivable, net                           (70)          337
      Inventories                                       (109)          323
      Inventoried costs on long-term contracts            (5)          (31)
      Prepaid expenses and other current assets           (1)           61
      Accounts payable                                    98          (345)
      Accrued and other current liabilities              101           201
      Income taxes                                         -             6
      Deferred revenue                                   (12)           (7)
      Other                                               17            54
                                                         ---           ---
       Net cash provided by continuing operating
        activities                                       500           461
       Net cash used in discontinued operating
        activities                                         -           (37)
                                                         ---           ---
       Net cash provided by operating activities         500           424
                                                         ---           ---
  Cash Flows From Investing Activities:
  Capital expenditures                                   (81)          (94)
  Proceeds from sale of property, plant, and
   equipment                                               3             3
  Acquisition of business, net of cash acquired          (55)            -
  Proceeds from divestiture of discontinued
   operations, net of cash retained by operations
   sold                                                    -             6
  Proceeds from divestiture of businesses, net of
   cash retained by businesses sold                        -             6
  Other                                                   (2)            1
                                                         ---           ---
       Net cash used in continuing investing
        activities                                      (135)          (78)
       Net cash used in discontinued investing
        activities                                         -            (1)
                                                         ---           ---
       Net cash used in investing activities            (135)          (79)
                                                        ----           ---
  Cash Flows From Financing Activities:
  Net decrease in commercial paper                         -          (249)
  Proceeds from long-term debt                             -           251
  Repayment of long-term debt                              -          (100)
  Repurchase of common shares                           (147)            -
  Payment of common share dividends and cash
   distributions to shareholders                         (72)          (73)
  Transfer to discontinued operations                      -           (32)
  Other                                                   (1)            -
                                                         ---           ---
       Net cash used in continuing financing
        activities                                      (220)         (203)
       Net cash provided by discontinued financing
        activities                                         -            37
                                                         ---           ---
       Net cash used in financing activities            (220)         (166)
                                                        ----          ----
  Effect of currency translation on cash                  (1)           (2)
  Net increase (decrease) in cash and cash
   equivalents                                           144           177
  Less: net decrease in cash and cash equivalents
   related to discontinued operations                      -             1
  Cash and cash equivalents at beginning of
   period                                              1,695           549
                                                       -----           ---
  Cash and cash equivalents at end of period          $1,839          $727
                                                      ======          ====

  Supplemental Cash Flow Information:
  Income taxes paid, net of refunds                      $32           $10

  Reconciliation to Free Cash Flow:
  Net cash provided by continuing operating
   activities                                           $500          $461
  Capital expenditures, net                              (78)          (91)
                                                         ---           ---
  Free cash flow (1)                                    $422          $370
                                                        ====          ====





                                                       For the Six Months
                                                             Ended
                                                       ------------------
                                                     March         March
                                                      26,           27,
                                                       2010          2009
                                                       ----          ----
                                                   (in millions)
  Cash Flows From Operating Activities:
  Net income (loss)                                    $479       $(3,272)
      (Income) loss from discontinued
       operations, net of income taxes                    -            66
                                                        ---           ---
  Income (loss) from continuing operations              479        (3,206)
  Adjustments to reconcile net cash
   provided by operating activities:
    Impairment of goodwill                                -         3,547
    Non-cash restructuring and other
     charges, net                                        16            23
    Depreciation and amortization                       266           252
    Deferred income taxes                               155          (679)
    Provision for losses on accounts
     receivable and inventories                           -            38
    Tax sharing income                                  (83)           (5)
    Other                                                38            34
    Changes in assets and liabilities, net of
     the effects of acquisitions and
     divestitures:
      Accounts receivable, net                         (146)          832
      Inventories                                      (129)          207
      Inventoried costs on long-term contracts          (25)          (59)
      Prepaid expenses and other current assets          26           215
      Accounts payable                                  260          (544)
      Accrued and other current liabilities               4          (156)
      Income taxes                                        -            28
      Deferred revenue                                  (40)          (59)
      Other                                               9            25
                                                        ---           ---
       Net cash provided by continuing operating
        activities                                      830           493
       Net cash used in discontinued operating
        activities                                        -           (36)
                                                        ---           ---
       Net cash provided by operating activities        830           457
                                                        ---           ---
  Cash Flows From Investing Activities:
  Capital expenditures                                 (157)         (209)
  Proceeds from sale of property, plant,
   and equipment                                          5             7
  Acquisition of business, net of cash
   acquired                                             (55)            -
  Proceeds from divestiture of discontinued
   operations, net of cash retained by
   operations sold                                        -            29
  Proceeds from divestiture of businesses,
   net of cash retained by businesses sold               12             6
  Other                                                  (4)           (3)
                                                        ---           ---
       Net cash used in continuing investing
        activities                                     (199)         (170)
       Net cash used in discontinued investing
        activities                                        -            (2)
                                                        ---           ---
       Net cash used in investing activities           (199)         (172)
                                                       ----          ----
  Cash Flows From Financing Activities:
  Net decrease in commercial paper                        -          (649)
  Proceeds from long-term debt                            -           442
  Repayment of long-term debt                             -          (119)
  Repurchase of common shares                          (165)         (152)
  Payment of common share dividends and
   cash distributions to shareholders                  (146)         (147)
  Transfer to discontinued operations                     -           (32)
  Other                                                  (2)           (3)
                                                        ---           ---
       Net cash used in continuing financing
        activities                                     (313)         (660)
       Net cash provided by discontinued
        financing activities                              -            37
                                                        ---           ---
       Net cash used in financing activities           (313)         (623)
                                                       ----          ----
  Effect of currency translation on cash                  -           (26)
  Net increase (decrease) in cash and cash
   equivalents                                          318          (364)
  Less: net decrease in cash and cash
   equivalents related to discontinued
   operations                                             -             1
  Cash and cash equivalents at beginning of
   period                                             1,521         1,090
                                                      -----         -----
  Cash and cash equivalents at end of
   period                                            $1,839          $727
                                                     ======          ====

  Supplemental Cash Flow Information:
  Income taxes paid, net of refunds                     $48           $72

  Reconciliation to Free Cash Flow:
  Net cash provided by continuing operating
   activities                                          $830          $493
  Capital expenditures, net                            (152)         (202)
                                                       ----          ----
  Free cash flow (1)                                   $678          $291
                                                       ====          ====

  (1) Free cash flow is a non-GAAP measure.  See description of non-
  GAAP measures contained in this release.




                                              TYCO ELECTRONICS LTD.
                                      CONSOLIDATED SEGMENT DATA (UNAUDITED)

                                   For the Quarters Ended
                                   ----------------------
                              March 26,           March 27,
                                    2010                2009
                                    ----                ----
                                      ($ in millions)
  Net Sales:
  Electronic Components           $1,984              $1,280
  Network Solutions                  394                 402
  Specialty Products                 371                 346
  Subsea Communications              208                 309
    Total                         $2,957              $2,337
                                  ======              ======

  Operating Income (Loss):
  Electronic Components             $262    13.2%    $(3,654)    NM (1)
  Network Solutions                   42    10.7%         21        5.2%
  Specialty Products                  49    13.2%        (83)    NM (1)
  Subsea Communications               45    21.6%         54       17.5%
  Pre-separation
   litigation charges, net             -                (135)
    Total                           $398    13.5%    $(3,797)    NM (1)
                                    ====             =======





                                For the Six Months Ended
                                ------------------------
                             March 26,          March 27,
                                  2010               2009
                                  ----               ----
                                     ($ in millions)
  Net Sales:
  Electronic Components         $3,895             $2,905
  Network Solutions                816                858
  Specialty Products               729                713
  Subsea Communications            409                574
    Total                       $5,849             $5,050
                                ======             ======

  Operating Income (Loss):
  Electronic Components           $425    10.9%   $(3,672)    NM (1)
  Network Solutions                 62     7.6%        65        7.6%
  Specialty Products               100    13.7%       (55)    NM (1)
  Subsea Communications             80    19.6%        92       16.0%
  Pre-separation
   litigation charges, net           -               (144)
    Total                         $667    11.4%   $(3,714)    NM (1)
                                  ====            =======

  (1) Not meaningful.




              TYCO ELECTRONICS LTD.
   NET SALES GROWTH RECONCILIATION (UNAUDITED)

                               Change in Net Sales for the
                              Quarter Ended March 26, 2010
                                versus Net Sales for the
                              Quarter Ended March 27, 2009
                              ----------------------------


                                                         Translation
                            Organic (1)                              (2)
                            -----------                 ------------
                                     ($ in millions)
  Electronic Components
   (3):
    Automotive              $433        77.8%                 $55
    DataComm                  18         8.2                     4
    Industrial                47        29.4                     9
    Appliance                 51        56.1                     4
    Computer                  18        18.6                     2
    Consumer Devices          30        39.2                    (1)
    Other                     46        45.8                     4
                             ---        ----
      Total                  643        50.2                    77
                             ---        ----                   ---
  Network Solutions (3):
    Energy                   (12)       (6.7)                   12
    Enterprise Networks        7         7.9                     7
    Service Providers        (17)     (15.1)                     6
    Other                      -         5.9                     1
                             ---         ---
      Total                  (22)       (5.7)                   26
                             ---        ----                   ---
  Specialty Products (3):
    Aerospace, Defense, and
     Marine                  (13)       (8.0)                    4
    Touch Systems              5         6.4                     3
    Circuit Protection        26        67.2                     3
    Medical                   (3)       (5.2)                    -
                             ---        ----
      Total                   15         4.1                    10
                             ---         ---                   ---
  Subsea Communications      (99)     (32.8)                    (2)
                             ---       -----                   ---
     Total                  $537        23.0%                 $111
                            ====        ====                  ====





                                       Change in Net Sales for the
                                       Quarter Ended March 26, 2010
                                         versus Net Sales for the
                                       Quarter Ended March 27, 2009
                                       ----------------------------


                             Divestiture                 Total
                             -----------                 -----
                                             ($ in millions)
  Electronic Components
   (3):
    Automotive                         $-             $488        90.4%
    DataComm                           (7)              15         7.0
    Industrial                          -               56        35.0
    Appliance                           -               55        60.4
    Computer                           (1)              19        19.2
    Consumer Devices                   (7)              22        28.9
    Other                              (1)              49        49.0
                                      ---
      Total                           (16)             704        55.0
                                      ---              ---        ----
  Network Solutions (3):
    Energy                            (12)             (12)       (6.4)
    Enterprise Networks                 -               14        15.2
    Service Providers                   -              (11)       (9.4)
    Other                               -                1        20.0
                                      ---
      Total                           (12)              (8)       (2.0)
                                      ---              ---        ----
  Specialty Products (3):
    Aerospace, Defense, and
     Marine                             -               (9)       (5.6)
    Touch Systems                       -                8         9.8
    Circuit Protection                  -               29        74.4
    Medical                             -               (3)       (4.7)
                                      ---
      Total                             -               25         7.2
                                      ---              ---         ---
  Subsea Communications                 -             (101)     (32.7)
                                      ---             ----       -----
     Total                           $(28)            $620        26.5%
                                     ====             ====        ====






                             Percentage of
                                Segment's
                                  Total
                              Net Sales for
                                   the
                             Quarter Ended
                             March 26, 2010
                             --------------


  Electronic Components
   (3):
    Automotive                           52%
    DataComm                             12
    Industrial                           11
    Appliance                             7
    Computer                              6
    Consumer Devices                      5
    Other                                 7
      Total                             100%
                                        ---
  Network Solutions (3):
    Energy                               45
    Enterprise Networks                  27
    Service Providers                    27
    Other                                 1
      Total                             100%
                                        ---
  Specialty Products (3):
    Aerospace, Defense, and
     Marine                              42
    Touch Systems                        24
    Circuit Protection                   18
    Medical                              16
      Total                             100%
                                        ---
  Subsea Communications
     Total




                          Change in Net Sales for the
                        Six Months Ended March 26, 2010
                            versus Net Sales for the
                        Six Months Ended March 27, 2009
                        -------------------------------


                                                     Translation
                        Organic (1)                               (2)
                        -----------                  ------------
                                ($ in millions)
  Electronic
   Components (3):
    Automotive          $663        50.8%                 $127
    DataComm             (19)       (4.0)                    14
    Industrial            33         9.5                     20
    Appliance             67        33.2                      7
    Computer              11         5.2                      5
    Consumer Devices      40        21.2                      -
    Other                 52        23.5                     14
      Total              847        29.1                    187
                         ---        ----                    ---
  Network Solutions
   (3):
    Energy               (40)     (10.1)                     30
    Enterprise Networks    2         0.7                     12
    Service Providers    (50)     (20.5)                     14
    Other                  -         3.1                      2
      Total              (88)     (10.5)                     58
                         ---       -----                    ---
  Specialty Products
   (3):
    Aerospace, Defense,
     and Marine          (39)     (11.9)                     10
    Touch Systems          6         3.4                      6
    Circuit Protection    35        35.4                      5
    Medical              (10)       (7.8)                     3
      Total               (8)       (1.4)                    24
                         ---        ----                    ---
  Subsea
   Communications       (165)     (28.8)                      -
                        ----       -----                    ---
     Total              $586        11.6%                  $269
                        ====        ====                   ====





                                   Change in Net Sales for the
                                 Six Months Ended March 26, 2010
                                     versus Net Sales for the
                                 Six Months Ended March 27, 2009
                                 -------------------------------


                         Divestiture                 Total
                         -----------                 -----
                                         ($ in millions)
  Electronic
   Components (3):
    Automotive                     $-             $790        63.0%
    DataComm                      (18)             (23)       (4.9)
    Industrial                      -               53        15.1
    Appliance                       -               74        36.8
    Computer                       (3)              13         5.9
    Consumer Devices              (20)              20        10.7
    Other                          (3)              63        28.3
                                                   ---        ----
      Total                       (44)             990        34.1
                                  ---              ---        ----
  Network Solutions
   (3):
    Energy                        (12)             (22)       (5.5)
    Enterprise Networks             -               14         7.1
    Service Providers               -              (36)     (14.6)
    Other                           -                2        18.2
                                                   ---        ----
      Total                       (12)             (42)       (4.9)
                                  ---              ---        ----
  Specialty Products
   (3):
    Aerospace, Defense,
     and Marine                     -              (29)       (9.0)
    Touch Systems                   -               12         7.3
    Circuit Protection              -               40        40.8
    Medical                         -               (7)       (5.5)
                                                   ---        ----
      Total                         -               16         2.2
                                  ---              ---         ---
  Subsea
   Communications                   -             (165)     (28.7)
                                  ---             ----       -----
     Total                       $(56)            $799        15.8%
                                 ====             ====        ====






                         Percentage of
                            Segment's
                              Total
                          Net Sales for
                               the
                            Six Months
                              Ended
                         March 26, 2010
                         --------------


  Electronic
   Components (3):
    Automotive                       52%
    DataComm                         11
    Industrial                       10
    Appliance                         8
    Computer                          6
    Consumer Devices                  5
    Other                             8
                                    ---
      Total                         100%
                                    ---
  Network Solutions
   (3):
    Energy                           47
    Enterprise Networks              26
    Service Providers                26
    Other                             1
                                    ---
      Total                         100%
                                    ---
  Specialty Products
   (3):
    Aerospace, Defense,
     and Marine                      40
    Touch Systems                    24
    Circuit Protection               19
    Medical                          17
                                    ---
      Total                         100%
                                    ---
  Subsea
   Communications
     Total

  (1) Represents the change in net sales resulting from volume and
  price changes, before consideration of acquisitions, divestitures,
  and the impact of changes in foreign currency exchange rates.
  Organic net sales growth is a non-GAAP measure.   See description
  of non-GAAP measures contained in this release.
  (2) Represents the change in net sales resulting from changes in
  foreign currency exchange rates.
  (3) Industry end market information about net sales is presented
  consistently with our internal management reporting and may be
  periodically revised as management deems necessary.




                                            TYCO ELECTRONICS LTD.
                                 NET SALES GROWTH RECONCILIATION (UNAUDITED)


                                Change in Net Sales for the
                                Quarter Ended March 26, 2010
                                  versus Net Sales for the
                              Quarter Ended December 25, 2009
                              -------------------------------
                                                        Translation
                              Organic (1)                            (2)
                              -----------               ------------
                                      ($ in millions)
  Electronic Components
   (3):
    Automotive               $51        4.9%                  $(38)
    DataComm                  14        6.6                     (3)
    Industrial                34       18.2                     (6)
    Appliance                 18       14.1                     (2)
    Computer                   4        3.5                      -
    Consumer Devices          (9)     (8.1)                     (2)
    Other                     14       10.4                     (2)
      Total                  126        6.6                    (53)
                             ---        ---                    ---
  Network Solutions (3):
    Energy                   (10)     (5.2)                     (6)
    Enterprise Networks        -        0.3                     (1)
    Service Providers          6        4.9                     (5)
    Other                      -        6.0                      -
      Total                   (4)     (1.0)                    (12)
                             ---       ----                    ---
  Specialty Products (3):
    Aerospace, Defense, and
     Marine                   12        7.9                     (3)
    Touch Systems              5        5.2                     (2)
    Circuit Protection        (1)     (1.0)                     (1)
    Medical                    4        7.5                     (1)
      Total                   20        5.6                     (7)
                             ---        ---                    ---
  Subsea Communications        8        3.9                     (1)
                             ---        ---                    ---
     Total                  $150        5.2%                  $(73)
                            ====        ===                   ====






                                    Change in Net Sales for the
                                   Quarter Ended March 26, 2010
                                     versus Net Sales for the
                                  Quarter Ended December 25, 2009
                                  -------------------------------
                              Divestiture              Total
                              -----------              -----
                                          ($ in millions)
  Electronic Components
   (3):
    Automotive                         $-         $13         1.3%
    DataComm                            -          11         5.0
    Industrial                          -          28        14.9
    Appliance                           -          16        12.3
    Computer                            -           4         3.5
    Consumer Devices                    -         (11)     (10.1)
    Other                               -          12         8.8
      Total                             -          73         3.8
                                      ---         ---         ---
  Network Solutions (3):
    Energy                            (12)        (28)     (13.7)
    Enterprise Networks                 -          (1)       (0.9)
    Service Providers                   -           1         1.0
    Other                               -           -           -
      Total                           (12)        (28)       (6.6)
                                      ---         ---        ----
  Specialty Products (3):
    Aerospace, Defense, and
     Marine                             -           9         6.3
    Touch Systems                       -           3         3.4
    Circuit Protection                  -          (2)       (2.9)
    Medical                             -           3         5.2
      Total                             -          13         3.6
                                      ---         ---         ---
  Subsea Communications                 -           7         3.5
                                      ---         ---         ---
     Total                           $(12)        $65         2.2%
                                     ====         ===         ===






                              Percentage
                                   of
                               Segment's
                               Total Net
                               Sales for
                              the Quarter
                              Ended March
                                26, 2010
                             -----------


  Electronic Components
   (3):
    Automotive                         52%
    DataComm                           12
    Industrial                         11
    Appliance                           7
    Computer                            6
    Consumer Devices                    5
    Other                               7
      Total                           100%
                                      ---
  Network Solutions (3):
    Energy                             45
    Enterprise Networks                27
    Service Providers                  27
    Other                               1
      Total                           100%
                                      ---
  Specialty Products (3):
    Aerospace, Defense, and
     Marine                            42
    Touch Systems                      24
    Circuit Protection                 18
    Medical                            16
      Total                           100%
                                      ---
  Subsea Communications
     Total

  (1) Represents the change in net sales resulting from volume and
  price changes, before consideration of acquisitions, divestitures,
  and the impact of changes in foreign currency exchange rates.
  Organic net sales growth is a non-GAAP measure.   See description
  of non-GAAP measures contained in this release.
  (2) Represents the change in net sales resulting from changes in
  foreign currency exchange rates.
  (3) Industry end market information about net sales is presented
  consistently with our internal management reporting and may be
  periodically revised as management deems necessary.




                             TYCO ELECTRONICS LTD.
   RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
                     For the Quarter Ended March 26, 2010
                                  (UNAUDITED)

                                              Adjustments
                                              -----------
                                             Restructuring
                                               and Other
                              U.S. GAAP      Charges, Net
                              ---------      ------------
                              ($ in millions, except per share data)
  Operating Income:
  Electronic Components            $262                 $8
  Network Solutions                  42                  -
  Specialty Products                 49                  4
  Subsea Communications              45                  -
      Total                        $398                $12
                                   ====                ===

  Operating Margin                 13.5%
                                   ====

  Other Income, Net                 $75                 $-
                                    ===                ===

  Income Tax Expense              $(135)               $(1)
                                  =====                ===

  Income from Continuing
   Operations Attributable to
   Tyco Electronics Ltd.           $304                $11
                                   ====                ===

  Diluted Earnings per Share
   from Continuing Operations
   Attributable to Tyco
   Electronics Ltd.               $0.66              $0.02
                                  =====              =====





                                Adjustments
                                -----------

                                    Tax                    Adjusted
                                                          (Non-GAAP)
                                 Items (1)                     (2)
                                 ---------               -----------
                         ($ in millions, except per share data)
  Operating Income:
  Electronic Components                         $-               $270
  Network Solutions                              -                 42
  Specialty Products                             -                 53
  Subsea Communications                          -                 45
      Total                                     $-               $410
                                               ===               ====

  Operating Margin                                               13.9%
                                                                 ====

  Other Income, Net                           $(64)               $11
                                              ====                ===

  Income Tax Expense                           $46               $(90)
                                               ===               ====

  Income from Continuing
   Operations
   Attributable to Tyco
   Electronics Ltd.                           $(18)              $297
                                              ====               ====

  Diluted Earnings per
   Share from Continuing
   Operations
   Attributable to Tyco
   Electronics Ltd.                         $(0.04)          $0.64
                                            ======              =====

  (1) Includes income tax expense related to certain proposed
  adjustments to prior year tax returns and the related impact to
  other income pursuant to the Tax Sharing Agreement with Tyco
  International and Covidien. Also includes an income tax benefit
  recognized in connection with a reduction in the valuation allowance
  associated with certain tax loss carryforwards.
  (2) See description of non-GAAP measures contained in this release.




                             TYCO ELECTRONICS LTD.
   RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
                     For the Quarter Ended March 27, 2009
                                  (UNAUDITED)

                                                       Adjustments
                                                       -----------
                                           Restructuring
                                                                Impairment
                                              and Other              of
                                            Charges, Net
                            U.S. GAAP             (1)            Goodwill
                            ---------      -------------         --------
                                  ($ in millions, except per share data)
  Operating Income (Loss):
  Electronic Components       $(3,654)               $166            $3,435
  Network Solutions                21                   8                 -
  Specialty Products              (83)                 12               112
  Subsea Communications            54                   1                 -
  Pre-separation
   litigation charges, net       (135)                  -                 -
      Total                   $(3,797)               $187            $3,547
                              =======                ====            ======

  Operating Margin             NM (4)
                               ======

  Other Income, Net                $3                  $-                $-
                                  ===                 ===               ===

  Income Tax (Expense)
   Benefit                       $594                $(43)            $(523)
                                 ====                ====             =====

  Income (Loss) from
   Continuing Operations
   Attributable to Tyco
   Electronics Ltd.           $(3,239)               $144            $3,024
                              =======                ====            ======

  Diluted Earnings (Loss)
   per Share from
   Continuing Operations
   Attributable to Tyco
   Electronics Ltd.            $(7.07)           $0.31          $6.60
                               ======               =====             =====





                             Adjustments
                             -----------

                                 Other
                                Items,                      Adjusted
                                                           (Non-GAAP)
                               Net (2)                          (3)
                               -------                    -----------
                   ($ in millions, except per share data)
  Operating Income
   (Loss):
  Electronic
   Components                                         $-          $(53)
  Network
   Solutions                                           -            29
  Specialty
   Products                                            -            41
  Subsea
   Communications                                      -            55
  Pre-separation
   litigation
   charges, net                                      135             -
      Total                                         $135           $72
                                                    ====           ===

  Operating Margin                                                 3.1%
                                                                   ===

  Other Income,
   Net                                                $-            $3
                                                     ===           ===

  Income Tax
   (Expense)
   Benefit                                            $-           $28
                                                     ===           ===

  Income (Loss)
   from Continuing
   Operations
   Attributable to
   Tyco
   Electronics
   Ltd.                                             $135        $64
                                                    ====           ===

  Diluted Earnings
   (Loss) per
   Share from
   Continuing
   Operations
   Attributable to
   Tyco
   Electronics
   Ltd.                                            $0.29      $0.14
                                                   =====         =====

  (1) Includes $189 million recorded in net restructuring and other
  charges and a $2 million credit recorded in cost of sales.
  (2) Consists of $135 million of costs related to the settlement of
  pre-separation securities litigation.
  (3) See description of non-GAAP measures contained in this release.
  (4) Not meaningful.




                             TYCO ELECTRONICS LTD.
   RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
                    For the Six Months Ended March 26, 2010
                                  (UNAUDITED)

                                                     Adjustments
                                                     -----------
                                                    Restructuring
                                                      and Other
                                                     Charges, Net
                                    U.S. GAAP              (1)
                                    ---------       -------------
                                    ($ in millions, except per share data)
  Operating Income:
  Electronic Components                   $425                $52
  Network Solutions                         62                 17
  Specialty Products                       100                  4
  Subsea Communications                     80                  2
      Total                               $667                $75
                                          ====                ===

  Operating Margin                        11.4%
                                          ====

  Other Income, Net                        $83                 $-
                                           ===                ===

  Income Tax Expense                     $(204)              $(17)
                                         =====               ====


  Income from Continuing
   Operations Attributable to Tyco
   Electronics Ltd.                       $476                $58
                                          ====                ===



  Diluted Earnings per Share from
   Continuing Operations
   Attributable to Tyco
   Electronics Ltd.                      $1.03              $0.13
                                         =====              =====





                                  Adjustments
                                  -----------

                                      Tax                   Adjusted
                                     Items                 (Non-GAAP)
                                       (2)                      (3)
                                    ------                -----------
                           ($ in millions, except per share data)
  Operating Income:
  Electronic Components                          $-               $477
  Network Solutions                               -                 79
  Specialty Products                              -                104
  Subsea Communications                           -                 82
      Total                                      $-               $742
                                                ===               ====

  Operating Margin                                                12.7%
                                                                  ====

  Other Income, Net                            $(64)               $19
                                               ====                ===

  Income Tax Expense                            $46              $(175)
                                                ===              =====


  Income from Continuing
   Operations Attributable
   to Tyco Electronics
   Ltd.                                        $(18)              $516
                                               ====               ====



  Diluted Earnings per
   Share from Continuing
   Operations Attributable
   to Tyco Electronics
   Ltd.                                      $(0.04)          $1.12
                                             ======              =====

  (1) Includes $78 million recorded in net restructuring and other
  charges and a $3 million credit recorded in cost of sales.
  (2) Includes income tax expense related to certain proposed
  adjustments to prior year tax returns and the related impact to
  other income pursuant to the Tax Sharing Agreement with Tyco
  International and Covidien. Also includes an income tax benefit
  recognized in connection with a reduction in the valuation allowance
  associated with certain tax loss carryforwards.
  (3) See description of non-GAAP measures contained in this release.




                             TYCO ELECTRONICS LTD.
   RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
                    For the Six Months Ended March 27, 2009
                                  (UNAUDITED)

                                                  Adjustments
                                                  -----------
                                      Restructuring
                                        and Other        Impairment of
                                       Charges, Net
                       U.S. GAAP             (1)            Goodwill
                       ---------      -------------         --------
                             ($ in millions, except per share data)
  Operating Income
   (Loss):
  Electronic
   Components            $(3,672)              $208             $3,435
  Network Solutions           65                 27                  -
  Specialty Products         (55)                26                112
  Subsea
   Communications             92                  4                  -
  Pre-separation
   litigation charges,
   net                      (144)                 -                  -
      Total              $(3,714)              $265             $3,547
                         =======               ====             ======

  Operating Margin        NM (5)
                          ======

  Other Income, Net           $2                 $-                 $-
                             ===                ===                ===

  Income Tax (Expense)
   Benefit                  $580               $(66)             $(523)
                            ====               ====              =====

  Income (Loss) from
   Continuing
   Operations
   Attributable to
   Tyco Electronics
   Ltd.                  $(3,209)           $199          $3,024
                         =======               ====             ======

  Diluted Earnings
   (Loss) per Share
   from Continuing
   Operations
   Attributable to
   Tyco Electronics
   Ltd. (4)               $(6.99)          $0.43           $6.57
                          ======              =====              =====





                             Adjustments
                             -----------

                                 Other
                                Items,                      Adjusted
                                                           (Non-GAAP)
                               Net (2)                          (3)
                               -------                    -----------
                   ($ in millions, except per share data)
  Operating Income
   (Loss):
  Electronic
   Components                                         $-          $(29)
  Network
   Solutions                                           -            92
  Specialty
   Products                                            8            91
  Subsea
   Communications                                      -            96
  Pre-separation
   litigation
   charges, net                                      144             -
      Total                                         $152          $250
                                                    ====          ====

  Operating Margin                                                 5.0%
                                                                   ===

  Other Income,
   Net                                                $-            $2
                                                     ===           ===

  Income Tax
   (Expense)
   Benefit                                           $(3)         $(12)
                                                     ===          ====

  Income (Loss)
   from Continuing
   Operations
   Attributable to
   Tyco
   Electronics
   Ltd.                                             $149       $163
                                                    ====          ====

  Diluted Earnings
   (Loss) per
   Share from
   Continuing
   Operations
   Attributable to
   Tyco
   Electronics
   Ltd. (4)                                        $0.32      $0.35
                                                   =====         =====

  (1) Includes $266 million recorded in net restructuring and other
  charges and a $1 million credit recorded in cost of sales.
  (2) Consists of $8 million of costs related to a product liability
  matter from several years ago recorded in selling, general, and
  administrative expenses and $144 million of costs related to pre-
  separation securities litigation.
  (3) See description of non-GAAP measures contained in this release.
  (4) GAAP diluted shares excludes 1 million of non-vested restricted
  share awards and non-vested options as the inclusion of these
  securities would have been anti-dilutive. Such amounts are included
  in non-GAAP diluted shares.
  (5) Not meaningful.




                               TYCO ELECTRONICS LTD.
          RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL
                                      MEASURES
                      For the Quarter Ended December 25, 2009
                                    (UNAUDITED)

                                          Adjustment
                                          ----------
                                        Restructuring
                                          and Other          Adjusted
                                         Charges, Net       (Non-GAAP)
                         U.S. GAAP             (1)               (2)
                         ---------      -------------      -----------
                              ($ in millions, except per share data)
  Operating Income:
  Electronic Components       $163                $44              $207
  Network Solutions             20                 17                37
  Specialty Products            51                  -                51
  Subsea Communications         35                  2                37
      Total                   $269                $63              $332
                              ====                ===              ====

  Operating Margin             9.3%                                11.5%
                               ===                                 ====

  Other Income, Net             $8                 $-                $8
                               ===                ===               ===

  Income Tax Expense          $(69)              $(16)             $(85)
                              ====               ====              ====

  Income from Continuing
   Operations
   Attributable to Tyco
   Electronics Ltd.           $172                $47              $219
                              ====                ===              ====

  Diluted Earnings per
   Share from Continuing
   Operations
   Attributable to Tyco
   Electronics Ltd.          $0.37           $0.10          $0.47
                             =====              =====             =====

  (1) Includes $66 million recorded in net restructuring and other
  charges and a $3 million credit recorded in cost of sales.
  (2) See description of non-GAAP measures contained in this release.




                              TYCO ELECTRONICS LTD.
         RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL
                                     MEASURES
                       For the Quarter Ended June 26, 2009
                                   (UNAUDITED)

                                        Adjustments
                                        -----------
                                        Restructuring
                                          and Other          Adjusted
                                                            (Non-GAAP)
                        U.S. GAAP       Charges, Net             (1)
                        ---------       ------------       -----------
                             ($ in millions, except per share data)
  Operating Income:
  Electronic Components      $(82)                $46              $(36)
  Network Solutions            31                  15                46
  Specialty Products           42                   1                43
  Subsea Communications        73                   1                74
                              ---
      Total                   $64                 $63              $127
                              ===                 ===              ====

  Operating Margin            2.6%                                  5.1%
                              ===                                   ===

  Other Income, Net            $5                  $-                $5
                              ===                 ===               ===

  Income Tax Expense          $(3)               $(12)             $(15)
                              ===                ====              ====

  Income from
   Continuing
   Operations
   Attributable to Tyco
   Electronics Ltd.           $26              $51            $77
                              ===                 ===               ===

  Diluted Earnings per
   Share from
   Continuing
   Operations
   Attributable to Tyco
   Electronics Ltd.         $0.06            $0.11          $0.17
                            =====               =====             =====

  (1) See description of non-GAAP measures contained in this release.




                             TYCO ELECTRONICS LTD.
   RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
                     For the Year Ended September 25, 2009
                                  (UNAUDITED)

                                                 Adjustments
                                                 -----------
                                     Restructuring
                                       and Other         Impairment of
                                      Charges, Net
                     U.S. GAAP              (1)             Goodwill
                     ---------       -------------          --------
                            ($ in millions, except per share data)
  Operating Income
   (Loss):
  Electronic
   Components          $(3,716)                $278             $3,435
  Network Solutions        133                   56                  -
  Specialty Products        34                   31                112
  Subsea
   Communications          219                    8                  -
  Pre-separation
   litigation
   charges, net           (144)                   -                  -
                                                ---                ---
      Total            $(3,474)                $373             $3,547
                       =======                 ====             ======

  Operating Margin      NM (6)
                        ======

  Other Income
   (Expense), Net         $(48)                  $-                 $-
                          ====                  ===                ===

  Income Tax
   (Expense) Benefit      $576                 $(87)             $(523)
                          ====                 ====              =====

  Income (Loss) from
   Continuing
   Operations
   Attributable to
   Tyco Electronics
   Ltd.                $(3,100)             $286          $3,024
                       =======                 ====             ======

  Diluted Earnings
   (Loss) per Share
   from Continuing
   Operations
   Attributable to
   Tyco Electronics
   Ltd. (5)             $(6.75)            $0.62           $6.57
                        ======                =====              =====





                       Adjustments
                       -----------

                                            Other
                            Tax            Items,           Adjusted
                           Items                           (Non-GAAP)
                             (2)          Net (3)               (4)
                          ------          -------         -----------
                       ($ in millions, except per share data)
  Operating Income
   (Loss):
  Electronic
   Components                   $-               $-                $(3)
  Network Solutions              -                -                189
  Specialty Products             -                8                185
  Subsea
   Communications                -                -                227
  Pre-separation
   litigation charges,
   net                           -              144                  -
                               ---              ---
      Total                     $-             $152               $598
                               ===             ====               ====

  Operating Margin                                                 5.8%
                                                                   ===

  Other Income
   (Expense), Net              $86             $(22)               $16
                               ===             ====                ===

  Income Tax (Expense)
   Benefit                    $(46)             $(3)              $(83)
                              ====              ===               ====

  Income (Loss) from
   Continuing
   Operations
   Attributable to
   Tyco Electronics
   Ltd.                        $40          $130            $380
                               ===             ====               ====

  Diluted Earnings
   (Loss) per Share
   from Continuing
   Operations
   Attributable to
   Tyco Electronics
   Ltd. (5)                  $0.09         $0.28           $0.83
                             =====            =====              =====

  (1) Includes $375 million recorded in net restructuring and other
  charges and a $2 million credit recorded in cost of sales.
  (2) Includes an income tax benefit primarily related to proposed
  adjustments to prior year tax returns, and charges to other expense
  pursuant to the Tax Sharing Agreement with Tyco International and
  Covidien.
  (3) Consists of $144 million of costs related to the settlement of
  pre-separation securities litigation and $8 million of costs
  related to a product liability matter from several years ago
  recorded in selling, general, and administrative expenses. Also
  includes net gain related to retirement of debt of $19 million.
  (4) See description of non-GAAP measures contained in this release.
  (5) GAAP diluted shares excludes 1 million of non-vested restricted
  share awards and non-vested options as the inclusion of these
  securities would have been anti-dilutive. Such amounts are included
  in non-GAAP diluted shares.
  (6) Not meaningful.

Source: Tyco Electronics Ltd.

CONTACT: Media Relations, Sheri Woodruff, Office, +1-610-893-9555,
Mobile, +1-609-933-9243, swoodruff@tycoelectronics.com; Investor Relations,
John Roselli, Office, +1-610-893-9559, john.roselli@tycoelectronics.com, or
Keith Kolstrom, Office, +1-610-893-9551, keith.kolstrom@tycoelectronics.com,
all of Tyco Electronics Ltd.

Web Site: http://www.tycoelectronics.com/


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