PEMBROKE, Bermuda, April 20 /PRNewswire-FirstCall/ -- Tyco
International Ltd. (NYSE: TYC; BSX: TYC) announced today that it has filed
an amended Form 10-K/A for the fiscal year ended Sept. 29, 2006 and Form
10-Q/A for the quarter ended Dec. 29, 2006. The purpose of the filings is
to correct certain income tax items discovered during the second quarter of
2007, along with other income tax matters previously identified, corrected
and disclosed in the company's Form 10-Q for the quarter ended March 30,
2006. Correction of these items results in an aggregate understatement of
income tax expense of $14 million. In addition, the amendment includes the
reclassification of a Tyco Engineered Products & Services joint venture as
a discontinued operation. While there was no material misstatement of the
company's financial statements in any prior period, the amended filings
report a material weakness related to certain aspects of the company's
control processes for its income tax accounting. The company is taking
action to remediate these control processes.
ABOUT TYCO INTERNATIONAL
Tyco International Ltd. is a global, diversified company that provides
vital products and services to customers in four business segments:
Electronics, Fire & Security, Healthcare, and Engineered Products &
Services.
SOURCE Tyco International Ltd.
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Related links:
http://www.tyco.com
http://www.prnewswire.com/comp/897850.html/
CONTACT:
Media, Sheri Woodruff, +1-609-720-4399,
swoodruff@tyco.com, or Investor Relations, Ed Arditte,
+1-609-720-4621, or Karen Chin, +1-609-720-4398, all of Tyco
International Ltd.
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