8-K

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 30, 2008

TYCO ELECTRONICS LTD.
(Exact Name of Registrant as Specified in its Charter)

Bermuda	98-0518048
(Jurisdiction of Incorporation)	(IRS Employer Identification Number)

001-33260
(Commission File Number)

Second Floor, 96 Pitts Bay Road
Pembroke, HM 08, Bermuda
(Address of Principal Executive Offices, including Zip Code)

441-294-0607
(Registrant's Telephone Number, including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.    Results of Operations and Financial Condition

        On July 30, 2008, Tyco Electronics Ltd. (the "Company") issued a press release reporting the Company's third quarter results for fiscal 2008. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference in this Item 2.02.

Item 8.01.    Other Events

        In the press release furnished as Exhibit 99.1 to this report, the Company announced an additional $750 million share repurchase program.

Item 9.01.    Financial Statements and Exhibits

(d)

Exhibits

Exhibit No.		Description
	99.1	Press release issued July 30, 2008

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TYCO ELECTRONICS LTD. (Registrant)
	By:	/s/ TERRENCE R. CURTIN    Terrence R. Curtin Executive Vice President and Chief Financial Officer
Date: July 30, 2008

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QuickLinks

Item 2.02. Results of Operations and Financial Condition
Item 8.01. Other Events
Item 9.01. Financial Statements and Exhibits

SIGNATURES

EX-99.1

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Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts: Media Relations:
Sheri Woodruff
    610-893-9555 Office
    609-933-9243 Mobile
    swoodruff@tycoelectronics.com Investor Relations:
John Roselli
    610-893-9559 Office
    john.roselli@tycoelectronics.com
Keith Kolstrom
    610-893-9551 Office
    keith.kolstrom@tycoelectronics.com

TYCO ELECTRONICS REPORTS STRONG THIRD QUARTER RESULTS

•

Net Sales Increased 19 Percent to $3.9 Billion; Organic Sales Growth of 11 Percent



•

Earnings Per Share (EPS) From Continuing Operations of $0.66 on a GAAP Basis; Adjusted EPS of $0.70, an Increase of 43 Percent Over Prior Year



•

Income From Operations of $537 Million; Adjusted Operating Income of $560 Million, an Increase of 22 Percent



•

Company Now Expects 2008 Adjusted EPS From Continuing Operations of $2.63 to $2.65, an Increase of 23 Percent to 24 Percent Over Prior Year



•

Board of Directors Authorizes a $750 Million Increase to Share Repurchase Program, Bringing Total Authorization to $2.0 Billion

        PEMBROKE, Bermuda—July 30, 2008—Tyco Electronics Ltd. (NYSE: TEL; BSX: TEL) today reported net sales of $3.9 billion for the fiscal third quarter ended June 27, 2008, an increase of 19 percent over the prior-year period. Excluding currency effects, organic sales growth was 11 percent. GAAP diluted earnings per share (EPS) from continuing operations were $0.66 for the quarter, compared to a loss of $1.88 in the prior-year period. Included in EPS from continuing operations were $0.04 of net charges—comprised of $0.02 per share of restructuring costs and a $0.02 per share charge related to the company's portion of a Tyco International securities litigation settlement. This compares to $2.37 per share of charges in the prior-year quarter. Adjusted EPS from continuing operations were $0.70 in the quarter, an increase of 43 percent over last year's adjusted EPS of $0.49.

        "Since we became an independent company one year ago, we've delivered four quarters of solid results," said Tyco Electronics Chief Executive Officer Tom Lynch. "In the third quarter, we continued to benefit from the breadth of our business, which enabled us to grow 11 percent organically. This growth, coupled with improved operating leverage in our Electronic Components segment and a favorable sales mix in our Undersea and Wireless segments, resulted in a 22 percent increase in operating income."

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        Organic Sales Growth, Adjusted Operating Income, Adjusted EPS, Adjusted Operating Margin and Free Cash Flow are all non-GAAP financial measures and are described at the end of this press release. For a reconciliation of these non-GAAP measures, see the attached tables. All dollar amounts are pre-tax and stated in millions. All comparisons are to the quarter ended June 29, 2007 unless otherwise indicated.

($ in millions)	June 27, 2008			June 29, 2007			$ Change		% Change
Net Sales	$	3,908		$	3,292		$	616		19	%
Operating Income/(Loss)	$	537		$	(507	)	$	1,044		NM
Restructuring-Related Costs	$	(16	)	$	(25	)
Other Items, Net	$	(7	)	$	(941	)
Adjusted Operating Income	$	560		$	459		$	101		22	%
Operating Margin		13.7	%		NM
Adjusted Operating Margin		14.3	%		13.9	%

        GAAP operating income was $537 million, compared to an operating loss of $507 million in the prior-year period. The operating margin on a GAAP basis was 13.7 percent. Included in the current quarter operating income was a $7 million net charge related to the company's portion of a Tyco International securities litigation settlement and $16 million of restructuring costs. Included in prior-year operating income were $25 million of restructuring costs, $50 million of separation-related costs and $891 million of costs related to the company's share of Tyco International's securities class action litigation settlement. Excluding these items in both periods, adjusted operating income was $560 million compared to $459 million a year ago, an increase of 22 percent. The adjusted operating margin was 14.3 percent, compared to 13.9 percent a year ago, primarily reflecting the benefit of higher sales volumes, productivity improvements in the Electronic Components segment, and a favorable sales mix in the Undersea Telecommunications and Wireless Systems segments.

CASH FLOW

        Free cash flow was $283 million in the quarter, a decrease of 13 percent from the prior-year quarter. Higher income levels compared to the prior-year quarter were more than offset by a decrease in deferred revenue and the timing of interest payments.

OTHER ITEMS

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During the quarter, Tyco Electronics announced that it entered into a definitive agreement to sell its Radio Frequency Components and Subsystem business for $425 million in cash. On July 28, Tyco Electronics signed a definitive agreement to sell its automotive radar sensors business for $42 million in cash. The results of both businesses were previously reported as discontinued operations.



•

Tyco Electronics' Board of Directors has authorized a $750 million increase in the company's share repurchase program. This brings the total share repurchase program authorization to $2.0 billion.

ORDERS

        Total company orders grew 28 percent compared to the prior year. On an organic basis, excluding the effects of currency translation, orders grew 20 percent and the book-to-bill ratio was 1.07. Excluding the company's Undersea Telecommunications and Wireless Systems segments, which are project-oriented businesses with uneven order patterns, orders grew 13 percent overall and 5 percent organically in the quarter, and the book-to-bill ratio was 1.00.

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FISCAL 2008 OUTLOOK

        The company now expects adjusted EPS from continuing operations of $2.63 to $2.65 for the full fiscal year 2008, compared to $2.14 in the prior year—an increase of 23 to 24 percent. This compares to the company's prior outlook of $2.60 to $2.66 per share. The company continues to expect restructuring-related costs of approximately $130 million ($0.17 per share) for the full year. The company further expects full-year sales growth of 14 to 16 percent with organic sales growth of 7 to 9 percent. This outlook assumes stable foreign exchange rates and raw material prices for the remainder of the fiscal year and excludes the one-time $1.15 per share benefit related to the company's tax sharing agreement from the adoption of FIN 48.

        For the fourth quarter of fiscal 2008, the company expects sales growth of 6 to 8 percent over prior-year sales of $3.5 billion, with organic sales growth of 1 to 2 percent. The company further expects diluted EPS from continuing operations of $0.56 to $0.58, which includes restructuring costs of approximately $0.09 per share. Adjusted EPS from continuing operations are expected to be $0.65 to $0.67, an increase of 12 to 16 percent over the prior-year quarter. This outlook assumes a 35 percent tax rate and Other Income of approximately $10 to $15 million.

        "In the fourth quarter, we again expect double-digit EPS growth and solid cash flow," Lynch said. "Our organic growth outlook reflects some recent softening of order rates in the automotive and telecom service provider markets. We continue to expect solid growth in the majority of our industrial and infrastructure businesses."

SEGMENT RESULTS

        Tyco Electronics is comprised of four reporting segments: Electronic Components, Network Solutions, Undersea Telecommunications and Wireless Systems.

Electronic Components

        The Electronic Components segment is one of the world's largest suppliers of passive electronic components, including connectors and interconnect systems, relays, switches, circuit protection devices, touchscreens, sensors, and wire and cable.

($ in millions)	June 27, 2008			June 29, 2007			$ Change		% Change			Organic Growth
Net Sales	$	2,930		$	2,551		$	379		15	%		6	%
Operating Income	$	417		$	314		$	103		33	%
Restructuring-Related Costs	$	(11	)	$	(18	)
Other Items	$	0		$	(20	)
Adjusted Operating Income	$	428		$	352		$	76		22	%
Operating Margin		14.2	%		12.3	%
Adjusted Operating Margin		14.6	%		13.8	%

        Sales in the segment grew 15 percent year over year, or 6 percent organically. On an organic basis, strong growth in industrial (+23 percent), communications (+10 percent), automotive (+7 percent) and aerospace and defense (+7 percent) markets was partially offset by lower growth in the appliance (+2 percent) market and sales declines in the computer (-2 percent) and consumer electronics (-6 percent) markets. In automotive, growth of 12 percent in markets outside North America more than offset an 18 percent decline in North America.

        Operating income increased by $103 million and adjusted operating income grew $76 million. The adjusted operating margin increased due to higher volumes and productivity improvements, which more than offset increased raw material costs. Restructuring costs in the quarter were $11 million, compared to $18 million of restructuring and $20 million of separation-related costs in the prior-year quarter.

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Network Solutions

        The Network Solutions segment is one of the world's largest suppliers of infrastructure components and systems for the communication service provider, building networks and energy markets.

($ in millions)	June 27, 2008			June 29, 2007			$ Change			% Change			Organic Growth
Net Sales	$	573		$	500		$	73			15	%		6	%
Operating Income	$	66		$	72		$	(6	)		(8	)%
Restructuring-Related Costs	$	(4	)	$	(4	)
Other Items	$	0		$	(3	)
Adjusted Operating Income	$	70		$	79		$	(9	)		(11	)%
Operating Margin		11.5	%		14.4	%
Adjusted Operating Margin		12.2	%		15.8	%

        Segment sales grew 15 percent compared to the prior-year quarter, or 6 percent organically. On an organic basis, sales to the building networks and energy markets grew 15 percent and 5 percent respectively. Sales to the communication service provider market were essentially flat, with strong growth in North America offset by the continuation of slower network investment by certain European telecommunications carriers.

        Operating income decreased by $6 million and adjusted operating income decreased by $9 million. The decrease in the adjusted operating margin primarily relates to a lower-margin sales mix and lower productivity levels. Restructuring costs in the quarter were $4 million, compared to $4 million of restructuring and $3 million of separation-related costs in the prior-year quarter.

Undersea Telecommunications

        The company's Undersea Telecommunications segment is a world leader in developing, manufacturing, installing and maintaining the world's most advanced fiber optic undersea networks.

($ in millions)	June 27, 2008			June 29, 2007			$ Change		% Change			Organic Growth
Net Sales	$	278		$	154		$	124		81	%		81	%
Operating Income	$	39		$	16		$	23		144	%
Restructuring-Related Costs	$	(1	)	$	(2	)
Other Items	$	0		$	(1	)
Adjusted Operating Income	$	40		$	19		$	21		111	%
Operating Margin		14.0	%		10.4	%
Adjusted Operating Margin		14.4	%		12.3	%

        Sales in the segment grew 81 percent organically versus the prior year, due to continued investment in undersea fiber optic network capacity, primarily in emerging markets. Adjusted operating income increased $21 million and the adjusted operating margin increased to 14.4 percent, driven by higher volumes and a favorable project mix. Restructuring-related costs in the quarter were $1 million, compared to $2 million of restructuring and $1 million of separation-related costs in the prior-year quarter.

4

Wireless Systems

        The Wireless Systems segment is a leading innovator of wireless technology for critical communications.

($ in millions)	June 27, 2008			June 29, 2007			$ Change		% Change			Organic Growth
Net Sales	$	127		$	87		$	40		46	%		43	%
Operating Income	$	22		$	7		$	15		214	%
Restructuring-Related Costs	$	0		$	(1	)
Other Items	$	0		$	(1	)
Adjusted Operating Income	$	22		$	9		$	13		144	%
Operating Margin		17.3	%		8.0	%
Adjusted Operating Margin		17.3	%		10.3	%

        Sales in the segment grew $40 million versus the prior year, primarily due to increased radio sales related to the federally-mandated re-banding efforts of a customer. Adjusted operating income increased $13 million due to higher sales volumes and a favorable sales mix. There were no Other Items in the quarter, compared to $1 million of restructuring and $1 million of separation-related costs in the prior-year quarter.

ABOUT TYCO ELECTRONICS

        Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, undersea telecommunication systems and wireless systems, with 2007 sales of $13.0 billion to customers in more than 150 countries. We design, manufacture and market products for customers in industries from automotive, appliance and aerospace and defense to telecommunications, computers and consumer electronics. With over 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is our customers' advantage. More information on Tyco Electronics can be found at www.tycoelectronics.com.

CONFERENCE CALL AND WEBCAST

        The company will hold a conference call for investors today beginning at 8:30 a.m. EST. The call can be accessed in three ways:

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At Tyco Electronics' website: http://investors.tycoelectronics.com.



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By telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the telephone dial-in number in the United States is (800) 230-1092. The telephone dial-in number for participants outside the United States is (651) 291-0618.



•

An audio replay of the conference call will be available beginning at 10:30 a.m. on July 30, 2008 and ending at 11:59 p.m. on August 6, 2008. 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 942723.

NON-GAAP MEASURES

"Organic Sales Growth," "Adjusted Operating Income," "Adjusted Earnings Per Share," "Adjusted Operating Margin," 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

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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. It is also a component of the company's compensation programs. 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 numbers. 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 unusual items including costs related to the separation, legal settlements, restructuring costs 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 litigation settlement costs, separation-related costs and restructuring costs 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 adjusted diluted earnings per share, which is earnings per share from continuing operations before unusual items, including costs related to the separation, legal settlements, restructuring costs, loss on retirement of debt and other income or charges ("Adjusted Earnings Per Share"). The company presents Adjusted Earnings Per Share because we believe that it is appropriate for investors to consider results excluding these items in addition to our results in accordance with GAAP. We believe such a measure provides a picture of our results that is more comparable among periods since it excludes the impact of unusual items, which may recur occasionally, 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 earnings per share (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 unusual items including costs related to the separation, legal settlements, restructuring costs and other income or charges ("Adjusted Operating Margin"). The company presents and forecasts its Adjusted Operating Margin before unusual 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.

"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

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insight into the number 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 unusual 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 unusual 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 numbers.

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.

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 or achievements to differ materially from anticipated results, performance 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. The forward-looking statements in this release include statements addressing the following subjects: future financial condition and operating results. Economic, business, competitive and/or regulatory factors affecting Tyco Electronics' businesses are examples of factors, among others, that could cause actual results to differ materially from those described in the forward-looking statements. In addition, Tyco Electronics' historical combined financial information is not necessarily representative of the results it would have achieved as an independent, publicly-traded company and may not be a reliable indicator of its future results. 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. 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 September 28, 2007, as retrospectively adjusted to reflect the Radio Frequency Components and Subsystem and Automotive Sensors businesses as discontinued operations in the Company's Current Report on Form 8-K filed June 27, 2008, and Quarterly Reports on Form 10-Q for the quarterly periods ended December 28, 2007 and March 28, 2008, as well as in current reports on Form 8-K filed by Tyco Electronics.

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TYCO ELECTRONICS LTD.

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (UNAUDITED)

			For the Quarters Ended						For the Nine Months Ended
			June 27, 2008			June 29, 2007			June 27, 2008			June 29, 2007
			(in millions, except per share data)
Net sales			$	3,908		$	3,292		$	11,128		$	9,471
Cost of sales				2,911			2,455			8,269			7,015
	Gross income			997			837			2,859			2,456
Selling, general, and administrative expenses				437			403			1,257			1,198
Litigation settlement, net				7			891			30			891
Separation costs				—			25			—			25
Restructuring and other charges, net				16			25			62			42
	Income (loss) from operations			537			(507	)		1,510			300
Interest income				6			11			25			40
Interest expense				(43	)		(57	)		(142	)		(175	)
Other income (expense)				1			(232	)		606			(232	)
	Income (loss) from continuing operations before income taxes
		and minority interest		501			(785	)		1,999			(67	)
Income taxes				(182	)		(147	)		(508	)		(347	)
Minority interest				(2	)		(1	)		(4	)		(3	)
	Income (loss) from continuing operations			317			(933	)		1,487			(417	)
Income (loss) from discontinued operations, net of income taxes				13			(435	)		93			(393	)
	Net income (loss)		$	330		$	(1,368	)	$	1,580		$	(810	)
Basic earnings (loss) per share:
	Income (loss) from continuing operations		$	0.66		$	(1.88	)	$	3.05		$	(0.84	)
	Income (loss) from discontinued operations			0.03			(0.87	)		0.19			(0.79	)
	Net income (loss)		$	0.69		$	(2.75	)	$	3.24		$	(1.63	)
Diluted earnings (loss) per share:
	Income (loss) from continuing operations		$	0.66		$	(1.88	)	$	3.03		$	(0.84	)
	Income (loss) from discontinued operations			0.02			(0.87	)		0.19			(0.79	)
	Net income (loss)		$	0.68		$	(2.75	)	$	3.22		$	(1.63	)
Weighted-average number of shares outstanding:
	Basic			478			497			487			497
	Diluted			482			497			490			497

TYCO ELECTRONICS LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

			June 27, 2008			September 28, 2007
			(in millions, except share data)
Assets
Current Assets:
	Cash and cash equivalents		$	730		$	942
	Accounts receivable, net of allowance for doubtful accounts of $49 and $57, respectively			2,872			2,594
	Inventories			2,427			2,049
	Class action settlement escrow			—			928
	Class action settlement receivable			—			2,064
	Prepaid expenses and other current assets			563			589
	Deferred income taxes			238			325
	Assets held for sale			307			505
		Total current assets		7,137			9,996
Property, plant, and equipment, net				3,642			3,412
Goodwill				7,206			7,177
Intangible assets, net				513			526
Deferred income taxes				1,985			1,397
Receivable from Tyco International Ltd. and Covidien				1,269			844
Other assets				362			336
		Total Assets	$	22,114		$	23,688
Liabilities and Shareholders' Equity
Current Liabilities:
	Current maturities of long-term debt		$	21		$	5
	Accounts payable			1,573			1,343
	Class action settlement liability			—			2,992
	Accrued and other current liabilities			1,445			1,417
	Deferred revenue			294			181
	Liabilities held for sale			86			266
		Total current liabilities		3,419			6,204
Long-term debt				3,171			3,373
Long-term pension and postretirement liabilities				648			607
Deferred income taxes				271			271
Income taxes				2,337			1,242
Other liabilities				667			599
	Total Liabilities			10,513			12,296
Commitments and contingencies
Minority interest				10			15
Shareholders' equity:
	Preferred shares, $0.20 par value, 125,000,000 shares authorized; none outstanding			—			—
	Common shares, $0.20 par value, 1,000,000,000 shares authorized; 500,076,677 and 497,467,930 issued, respectively			100			99
	Capital in excess:
		Share premium		61			13
		Contributed surplus		10,077			10,029
	Accumulated earnings			928			186
	Treasury stock, at cost, 24,697,757 and 44,454 shares, respectively			(870	)		(2	)
	Accumulated other comprehensive income			1,295			1,052
		Total Shareholders' Equity		11,591			11,377
		Total Liabilities and Shareholders' Equity	$	22,114		$	23,688

TYCO ELECTRONICS LTD.

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED)

				For the Quarters Ended						For the Nine Months Ended
				June 27, 2008			June 29, 2007			June 27, 2008			June 29, 2007
				(in millions)
Cash Flows From Operating Activities:
Net income (loss)				$	330		$	(1,368	)	$	1,580		$	(810	)
	(Income) loss from discontinued operations, net of income taxes				(13	)		435			(93	)		393
Income (loss) from continuing operations					317			(933	)		1,487			(417	)
Adjustments to reconcile net cash provided by operating activities:
	Class action settlement				—			891			(936	)		891
	Depreciation and amortization				143			130			414			381
	Deferred income taxes				76			64			203			121
	Tax sharing income				(1	)		—			(606	)		—
	Loss on retirement of debt				—			232			—			232
	Other				27			40			67			87
	Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
		Accounts receivable, net			(89	)		(71	)		(160	)		(84	)
		Inventories			(20	)		14			(307	)		(202	)
		Accounts payable			43			38			77			41
		Accrued and other liabilities			(6	)		47			(40	)		(26	)
		Income taxes			(17	)		(163	)		—			(163	)
		Deferred revenue			(32	)		33			115			58
		Other			3			(24	)		60			(45	)
			Net cash provided by continuing operating activities		444			298			374			874
			Net cash (used in) provided by discontinued operating activities		(40	)		5			(23	)		8
			Net cash provided by operating activities		404			303			351			882
Cash Flows From Investing Activities:
Capital expenditures					(167	)		(135	)		(450	)		(732	)
Proceeds from sale of property, plant, and equipment					6			1			37			32
Class action settlement escrow					—			(921	)		936			(921	)
Proceeds from divestiture of discontinued operations, net of cash retained by businesses sold					—			—			102			227
Other					(4	)		13			(21	)		11
			Net cash (used in) provided by continuing investing activities		(165	)		(1,042	)		604			(1,383	)
			Net cash used in discontinued investing activities		(1	)		(3	)		(5	)		(14	)
			Net cash (used in) provided by investing activities		(166	)		(1,045	)		599			(1,397	)
Cash Flows From Financing Activities:
Net increase in commercial paper					1			—			651			—
Repayment of long-term debt					(400	)		(67	)		(1,351	)		(74	)
Proceeds from long-term debt					400			3,631			500			3,631
Allocated debt activity					—			(3,772	)		—			(3,743	)
Net transactions with former parent					—			1,379			—			1,139
Repurchase of common shares					(240	)		—			(832	)		—
Payment of common dividends					(69	)		—			(205	)		—
Proceeds from exercise of share options					23			—			51			—
Transfers to discontinued operations					(11	)		(172	)		(11	)		(181	)
Other					(3	)		(18	)		(12	)		(3	)
			Net cash (used in) provided by continuing financing activities		(299	)		981			(1,209	)		769
			Net cash provided by (used in) discontinued financing activities		27			(2	)		12			11
			Net cash (used in) provided by financing activities		(272	)		979			(1,197	)		780
Effect of currency translation on cash					2			10			19			22
Net (decrease) increase in cash and cash equivalents					(32	)		247			(228	)		287
Less: net decrease (increase) in cash and cash equivalents related to discontinued operations					14			—			16			(5	)
Cash and cash equivalents at beginning of period					748			507			942			472
Cash and cash equivalents at end of period				$	730		$	754		$	730		$	754
Supplemental Cash Flow Information:
Income taxes paid, net of refunds				$	106		$	252		$	305		$	388
Reconciliation to Free Cash Flow:
Net cash provided by continuing operating activities				$	444		$	298		$	374		$	874
Capital expenditures, net					(161	)		(134	)		(413	)		(700	)
Class action settlement					—			—			936			—
Income tax advance payment					—			163			—			163
Free cash flow(1)				$	283		$	327		$	897		$	337

(1)

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

TYCO ELECTRONICS LTD.

CONSOLIDATED AND COMBINED SEGMENT DATA (UNAUDITED)

		For the Quarters Ended										For the Nine Months Ended
		June 27, 2008					June 29, 2007					June 27, 2008					June 29, 2007
		($ in millions)
Net Sales:
Electronic Components		$	2,930				$	2,551				$	8,330				$	7,481
Network Solutions			573					500					1,602					1,375
Undersea Telecommunications			278					154					864					352
Wireless Systems			127					87					332					263
	Total	$	3,908				$	3,292				$	11,128				$	9,471
Income (Loss) from Operations:
Electronic Components		$	417		14.2	%	$	314		12.3	%	$	1,188		14.3	%	$	992		13.3	%
Network Solutions			66		11.5	%		72		14.4	%		188		11.7	%		185		13.5	%
Undersea Telecommunications			39		14.0	%		16		10.4	%		121		14.0	%		19		5.4	%
Wireless Systems			22		17.3	%		7		8.0	%		43		13.0	%		20		7.6	%
Litigation settlement, net and
	separation costs		(7	)				(916	)				(30	)				(916	)
	Total	$	537		13.7	%	$	(507	)	(15.4	)%	$	1,510		13.6	%	$	300		3.2	%

TYCO ELECTRONICS LTD.

NET SALES GROWTH RECONCILIATION (UNAUDITED)

			Change in Net Sales for the Quarter Ended June 27, 2008 versus Net Sales for the Quarter Ended June 29, 2007												Percentage of Segment's Total Net Sales for the Quarter Ended June 27, 2008
			Organic(1)					Translation(2)			Total
			($ in millions)
Electronic Components(3):
	Automotive		$	70		6.9	%	$	115		$	185	18.3	%		41	%
	Computer			(5	)	(2.0	)		11			6	2.3			9
	Communications			20		9.9			18			38	18.4			8
	Industrial			34		23.3			19			53	36.6			7
	Aerospace and Defense			11		7.3			10			21	13.5			6
	Appliance			2		1.6			10			12	9.2			5
	Consumer Electronics			(3	)	(5.5	)		4			1	2.1			1
	Other			27		4.5			36			63	10.5			23
		Total		156		6.1			223			379	14.9			100
Network Solutions(3):
	Energy			11		5.0			23			34	15.3			45
	Communication Service Provider			(1	)	(0.7	)		10			9	6.3			27
	Building Networks			18		15.2			11			29	24.2			26
	Other			—		0.2			1			1	7.1			2
		Total		28		5.7			45			73	14.6			100	%
Undersea Telecommunications				126		81.3			(2	)		124	80.5
Wireless Systems				38		42.9			2			40	46.0
	Total		$	348		10.6	%	$	268		$	616	18.7	%

			Change in Net Sales for the Nine Months Ended June 27, 2008 versus Net Sales for the Nine Months Ended June 29, 2007												Percentage of Segment's Total Net Sales for the Nine Months Ended June 27, 2008
			Organic(1)					Translation(2)		Total
			($ in millions)
Electronic Components(3):
	Automotive		$	165		5.6	%	$	297	$	462		15.7	%		41	%
	Computer			(34	)	(4.4	)		30		(4	)	(0.5	)		9
	Communications			88		15.2			45		133		22.9			9
	Industrial			73		17.3			44		117		27.8			6
	Aerospace and Defense			37		8.5			24		61		14.2			6
	Appliance			(10	)	(2.5	)		27		17		4.4			5
	Consumer Electronics			(15	)	(9.9	)		9		(6	)	(3.9	)		2
	Other			(20	)	(1.1	)		89		69		3.9			22
		Total		284		3.8			565		849		11.3			100
Network Solutions(3):
	Energy			37		6.1			64		101		16.4			45
	Communication Service Provider			22		5.8			27		49		12.5			27
	Building Networks			44		13.4			31		75		22.9			25
	Other			(3	)	(6.2	)		5		2		4.7			3
		Total		100		7.3			127		227		16.5			100	%
Undersea Telecommunications				510		145.2			2		512		145.5
Wireless Systems				62		23.7			7		69		26.2
	Total		$	956		10.1	%	$	701	$	1,657		17.5	%

(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 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.

ADJUSTED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

For the Quarter Ended June 27, 2008

					Adjustments
		U.S. GAAP			Restructuring and Other Charges, Net			Other Items, Net(1)			Adjusted Results (Non-GAAP)(2)
		(in millions, except per share data)
Net sales		$	3,908		$	—		$	—		$	3,908
Cost of sales			2,911			—			—			2,911
	Gross income		997			—			—			997
Selling, general, and administrative expenses			437			—			—			437
Litigation settlement, net			7			—			(7	)		—
Restructuring and other charges, net			16			(16	)		—			—
	Income from operations		537			16			7			560
Interest income			6			—			—			6
Interest expense			(43	)		—			—			(43	)
Other income			1			—			—			1
	Income from continuing operations before income taxes and minority interest		501			16			7			524
Income taxes			(182	)		(5	)		—			(187	)
Minority interest			(2	)		—			—			(2	)
	Income from continuing operations	$	317		$	11		$	7		$	335
Basic earnings per share:
	Income from continuing operations	$	0.66								$	0.70
Diluted earnings per share:
	Income from continuing operations	$	0.66								$	0.70
Weighted-average number of shares outstanding:
	Basic		478									478
	Diluted		482									482

ADJUSTED CONSOLIDATED INCOME FROM OPERATIONS BY SEGMENT (UNAUDITED)

For the Quarter Ended June 27, 2008

					Adjustments
		U.S. GAAP			Restructuring and Other Charges, Net		Other Items, Net(1)		Adjusted Results (Non-GAAP)(2)
		(in millions)
Income from Operations:
Electronic Components		$	417		$	11	$	—	$	428
Network Solutions			66			4		—		70
Undersea Telecommunications			39			1		—		40
Wireless Systems			22			—		—		22
Litigation settlement, net			(7	)		—		7		—
	Total	$	537		$	16	$	7	$	560

(1)

Consists of $7 million of net costs related to the settlement of legacy securities litigation.

(2)

Adjusted results is a non-GAAP measure. See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

ADJUSTED COMBINED STATEMENT OF OPERATIONS (UNAUDITED)

For the Quarter Ended June 29, 2007

						Adjustments
			U.S. GAAP			Litigation Settlement, Net			Separation Related Costs(1)			Restructuring and Other Charges, Net			Loss on Retirement of Debt		Adjusted Results (Non-GAAP)(2)
			(in millions, except per share data)
Net sales			$	3,292		$	—		$	—		$	—		$	—	$	3,292
Cost of sales				2,455			—			—			—			—		2,455
	Gross income			837			—			—			—			—		837
Selling, general, and administrative expenses				403			—			(25	)		—			—		378
Litigation settlement, net				891			(891	)		—			—			—		—
Separation costs				25			—			(25	)		—			—		—
Restructuring and other charges, net				25			—			—			(25	)		—		—
	Income (loss) from operations			(507	)		891			50			25			—		459
Interest income				11			—			—			—			—		11
Interest expense				(57	)													(57	)
Other expense				(232	)		—			—			—			232		—
	Income (loss) from continuing operations before income
		taxes and minority interest		(785	)		891			50			25			232		413
Income taxes				(147	)		—			(14	)		(9	)		—		(170	)
Minority interest				(1	)		—			—			—			—		(1	)
	Income (loss) from continuing operations		$	(933	)	$	891		$	36		$	16		$	232	$	242
Basic and diluted earnings (loss) per share:
	Income (loss) from continuing operations		$	(1.88	)												$	0.49
Weighted-average number of shares outstanding:
	Basic and diluted			497														497

ADJUSTED COMBINED INCOME (LOSS) FROM OPERATIONS BY SEGMENT (UNAUDITED)

For the Quarter Ended June 29, 2007

					Adjustments
		U.S. GAAP			Litigation Settlement, Net		Separation Related Costs(1)		Restructuring and Other Charges, Net		Loss on Retirement of Debt		Adjusted Results (Non-GAAP)(2)
		(in millions)
Income (Loss) from Operations:
Electronic Components		$	314		$	—	$	20	$	18	$	—	$	352
Network Solutions			72			—		3		4		—		79
Undersea Telecommunications			16			—		1		2		—		19
Wireless Systems			7			—		1		1		—		9
Litigation settlement, net and separation costs			(916	)		891		25		—		—		—
	Total	$	(507	)	$	891	$	50	$	25	$	—	$	459

(1)

Includes $25 million of separation costs, primarily related to employee costs, and $25 million of costs related to building separate company functions that did not exist in the prior year.

(2)

Adjusted results is a non-GAAP measure. See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

ADJUSTED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

For the Nine Months Ended June 27, 2008

						Adjustments
			U.S. GAAP			Restructuring and Other Charges, Net			Tax Sharing Income(1)			Other Items, Net(2)			Adjusted Results (Non-GAAP)(3)
			(in millions, except per share data)
Net sales			$	11,128		$	—		$	—		$	—		$	11,128
Cost of sales				8,269			(1	)		—			—			8,268
	Gross income			2,859			1			—			—			2,860
Selling, general, and administrative expenses				1,257			—			—			36			1,293
Litigation settlement, net				30			—			—			(30	)		—
Restructuring and other charges, net				62			(62	)		—			—			—
	Income from operations			1,510			63			—			(6	)		1,567
Interest income				25			—			—			—			25
Interest expense				(142	)		—			—			—			(142	)
Other income				606			—			(572	)		—			34
	Income from continuing operations before
		income taxes and minority interest		1,999			63			(572	)		(6	)		1,484
Income taxes				(508	)		(19	)		—			20			(507	)
Minority interest				(4	)		—			—			—			(4	)
	Income from continuing operations		$	1,487		$	44		$	(572	)	$	14		$	973
Basic earnings per share:
	Income from continuing operations		$	3.05											$	2.00
Diluted earnings per share:
	Income from continuing operations		$	3.03											$	1.99
Weighted-average number of shares outstanding:
	Basic			487												487
	Diluted			490												490

ADJUSTED CONSOLIDATED INCOME FROM OPERATIONS BY SEGMENT (UNAUDITED)

For the Nine Months Ended June 27, 2008

					Adjustments
		U.S. GAAP			Restructuring and Other Charges, Net		Tax Sharing Income(1)		Other Items, Net(2)			Adjusted Results (Non-GAAP)(3)
		(in millions)
Income from Operations:
Electronic Components		$	1,188		$	41	$	—	$	(36	)	$	1,193
Network Solutions			188			18		—		—			206
Undersea Telecommunications			121			3		—		—			124
Wireless Systems			43			1		—		—			44
Litigation settlement, net			(30	)		—		—		30			—
	Total	$	1,510		$	63	$	—	$	(6	)	$	1,567

(1)

In connection with the adoption of FIN 48, the Company recorded income pursuant to its Tax Sharing Agreement with Tyco International and Covidien.

(2)

Consists of a $36 million gain on the sale of real estate and $30 million of net costs related to the settlement of legacy securities litigation.

(3)

Adjusted results is a non-GAAP measure. See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

ADJUSTED COMBINED STATEMENT OF OPERATIONS (UNAUDITED)

For the Nine Months Ended June 29, 2007

					Adjustments
		U.S. GAAP			Litigation Settlement, Net			Separation Related Costs(1)			Restructuring and Other Charges, Net			Loss on Retirement of Debt		Adjusted Results (Non-GAAP)(2)
		(in millions, except per share data)
Net sales		$	9,471		$	—		$	—		$	—		$	—	$	9,471
Cost of sales			7,015			—			—			—			—		7,015
	Gross income		2,456			—			—			—			—		2,456
Selling, general, and administrative expenses			1,198			—			(41	)		—			—		1,157
Litigation settlement, net			891			(891	)		—			—			—		—
Separation costs			25			—			(25	)		—			—		—
Restructuring and other charges, net			42			—			—			(42	)		—		—
	Income from operations		300			891			66			42			—		1,299
Interest income			40			—			—			—			—		40
Interest expense			(175	)													(175	)
Other expense			(232	)		—			—			—			232		—
	Income (loss) from continuing operations before income taxes and minority interest		(67	)		891			66			42			232		1,164
Income taxes			(347	)		—			(19	)		(14	)		—		(380	)
Minority interest			(3	)		—			—			—			—		(3	)
	Income (loss) from continuing operations	$	(417	)	$	891		$	47		$	28		$	232	$	781
Basic and diluted earnings (loss) per share:
	Income (loss) from continuing operations	$	(0.84	)												$	1.57
Weighted-average number of shares outstanding:
	Basic and diluted		497														497

ADJUSTED COMBINED INCOME FROM OPERATIONS BY SEGMENT (UNAUDITED)

For the Nine Months Ended June 29, 2007

					Adjustments
		U.S. GAAP			Litigation Settlement, Net		Separation Related Costs(1)		Restructuring and Other Charges, Net		Loss on Retirement of Debt		Adjusted Results (Non-GAAP)(2)
		(in millions)
Income from Operations:
Electronic Components		$	992		$	—	$	33	$	34	$	—	$	1,059
Network Solutions			185			—		5		4		—		194
Undersea Telecommunications			19			—		1		3		—		23
Wireless Systems			20			—		2		1		—		23
Litigation settlement, net and separation costs			(916	)		891		25		—		—		—
	Total	$	300		$	891	$	66	$	42	$	—	$	1,299

(1)

Includes $25 million of separation costs, primarily related to employee costs, and $41 million of costs related to building separate company functions that did not exist in the prior year.

(2)

Adjusted results is a non-GAAP measure. See description of non-GAAP measures contained in this release.

QuickLinks

Exhibit 99.1

TYCO ELECTRONICS REPORTS STRONG THIRD QUARTER RESULTS
TYCO ELECTRONICS LTD. CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (UNAUDITED)
TYCO ELECTRONICS LTD. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
TYCO ELECTRONICS LTD. CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED)
TYCO ELECTRONICS LTD. CONSOLIDATED AND COMBINED SEGMENT DATA (UNAUDITED)
TYCO ELECTRONICS LTD. NET SALES GROWTH RECONCILIATION (UNAUDITED)
TYCO ELECTRONICS LTD. ADJUSTED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) For the Quarter Ended June 27, 2008
ADJUSTED CONSOLIDATED INCOME FROM OPERATIONS BY SEGMENT (UNAUDITED) For the Quarter Ended June 27, 2008
TYCO ELECTRONICS LTD. ADJUSTED COMBINED STATEMENT OF OPERATIONS (UNAUDITED) For the Quarter Ended June 29, 2007
ADJUSTED COMBINED INCOME (LOSS) FROM OPERATIONS BY SEGMENT (UNAUDITED) For the Quarter Ended June 29, 2007
TYCO ELECTRONICS LTD. ADJUSTED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) For the Nine Months Ended June 27, 2008
ADJUSTED CONSOLIDATED INCOME FROM OPERATIONS BY SEGMENT (UNAUDITED) For the Nine Months Ended June 27, 2008
TYCO ELECTRONICS LTD. ADJUSTED COMBINED STATEMENT OF OPERATIONS (UNAUDITED) For the Nine Months Ended June 29, 2007
ADJUSTED COMBINED INCOME FROM OPERATIONS BY SEGMENT (UNAUDITED) For the Nine Months Ended June 29, 2007