8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15 (D) of the Securities Exchange Act of 1934

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

THOMAS & BETTS CORPORATION
 (Exact Name of Registrant as Specified in Its Charter)

Tennessee
(State or Other Jurisdiction of Incorporation)

1- 4682	22-1326940
(Commission File Number)	(IRS Employer Identification No.)

8155 T&B Boulevard
Memphis, Tennessee 38125

(Address of Principal Executive Offices) (Zip Code)

(901) 252-8000
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

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 (see General Instruction A.2. below):

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

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

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

⃞ 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 April 30, 2008, Thomas & Betts Corporation, by a press release furnished as Exhibit 99.1 to this report, and incorporated herein by reference, announced the financial results for the fiscal quarter ended March 31, 2008.

Item 9.01     Financial Statements and Exhibits

(d)         Exhibits

             99.1     Press Release dated April 30, 2008

SIGNATURE

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.

		Thomas & Betts Corporation
		(Registrant)
		By: /s/ W. David Smith, Jr.
		W. David Smith, Jr.
		Assistant General Counsel and Assistant Secretary
Date:	April 30, 2008

Exhibit Index

Exhibit	Description of Exhibits
99.1	Press Release of the Registrant dated April 30, 2008

EX-99.1

Exhibit 99.1

Thomas & Betts Corporation Reports First Quarter 2008 Earnings

First Quarter Earnings Per Share $0.66, In Line With Company Guidance

Full-Year 2008 E.P.S. Guidance Increased To $3.93 to $4.08, Reflecting $0.13 Per Share Benefit From Second Quarter Legal Settlement

MEMPHIS, Tenn.--(BUSINESS WIRE)--Thomas & Betts Corporation (NYSE: TNB) today reported first quarter 2008 net earnings of $38.3 million, compared to $37.1 million in the first quarter 2007. First quarter 2008 earnings were $0.66 per diluted share, up approximately five percent from 2007 and in line with the guidance provided by the company in February.

First quarter 2008 net sales were $595.5 million, up $121.0 million or 25.5 percent compared to last year. Acquisitions contributed $108.6 million or 22.9 percent while foreign currency benefited sales by approximately $22 million or 4.6 percent in the quarter. Underlying sales volumes declined year over year as demand for industrial and telecommunication products did not fully offset weakness in retail, utility distribution and light commercial construction markets influenced by the continued slowdown in U.S. residential construction.

“We are pleased with our strong margin performance in the quarter, despite softer market conditions in the U.S.,” said Dominic J. Pileggi, chairman and chief executive officer. “We are also pleased with the progress we’ve made integrating our recent acquisitions. As planned, we consolidated four acquired distribution centers into our centralized distribution model during the quarter. This, combined with other actions taken to eliminate duplicative operating costs, should lead to significant savings, particularly in the second half of 2008.”

First quarter 2008 gross profit was $186.3 million or 31.3 percent of sales, up from 30.5 percent in the prior-year period. The increase reflects improved mix in the company’s Electrical and Steel Structures segments and the favorable impact of recently acquired businesses.

Selling, general and administrative (SG&A) expense was $116.3 million or 19.5 percent of sales compared to $87.3 million or 18.4 percent of sales last year. The increase as a percent of sales reflects the impact of recent acquisitions. 2008 SG&A included $8 million of depreciation and amortization expenses related to acquisitions while 2007 first quarter SG&A included a $7 million legal charge.

Earnings from operations increased 22 percent to $70.0 million in the quarter, primarily due to acquisitions and improved mix. As a percent of sales, earnings from operations were 11.8 percent compared to 12.1 percent of sales in the first quarter 2007. The decline reflects the impact of acquisitions including, as expected, $4.1 million of non-recurring amortization and integration expenses.

Net interest expense increased by $8.8 million in the first quarter 2008 primarily as a result of funding required for recent acquisitions. The effective tax rate was 32.3 percent, up from 31.0 percent last year as a result of higher U.S. income.

SEGMENT RESULTS

During the first quarter 2008, the company began to report segment earnings before depreciation, amortization and share-based compensation expenses. Management believes this change provides improved transparency into the underlying operating trends in the business segments. 2007 quarterly results have been revised to reflect this change.

Total segment earnings were up 21 percent to $111.8 million in the first quarter 2008. As a percent of sales, segment earnings were 18.8 percent compared to 19.5 percent last year. The decline as a percent of sales reflects the impact of recent acquisitions.

First quarter 2008 Electrical segment sales were $508.8 million, up $119.6 million or 30.7 percent compared to the first quarter 2007. Acquisitions contributed $108.6 million or 27.9 percent while foreign currency benefited sales by $21 million or 5.4 percent in the quarter. Demand for industrial and telecommunication products partially offset weakness in retail, utility distribution and light commercial construction markets influenced by the continued slowdown in U.S. residential construction.

Electrical segment earnings were $96.1 million in the quarter, up 25.1 percent year over year largely as a result of acquisitions. As a percent of sales, segment earnings were 18.9 percent compared to 19.7 percent last year. Segment earnings included $3.2 million of the $4.1 million of non-recurring expenses noted above.

Sales and earnings in the Steel Structures segment were $52.0 million and $10.0 million in the quarter, respectively, in line with the prior-year period. As a percent of sales, Steel Structures segment earnings were 19.3 percent of sales compared to 18.8 percent last year, reflecting improved project mix.

HVAC segment sales increased 7.5 percent to $34.8 million in the first quarter 2008, partially due to the favorable impact of foreign currency. Segment earnings were $5.6 million or 16.2 percent of sales.

BALANCE SHEET HIGHLIGHTS

The company ended the first quarter 2008 with $110 million in cash and $858 million in total debt. In the quarter, the company completed the acquisition of two previously announced businesses for a total cost of approximately $90 million. Total debt compared to year end 2007 increased by approximately $46 million to help fund these acquisitions.

2008 DIRECTIONAL GUIDANCE

“Looking forward, we continue to expect sales to increase approximately 25 percent, with acquisitions contributing approximately 20 percent to the sales growth for the full year,” said Pileggi. “We expect continued growth in industrial and international markets to help offset weakness in U.S. markets influenced by residential construction. Notably, price increases taken recently in response to sharply higher commodity costs will play a more significant role than previously anticipated in sales growth in the second half of the year.”

“Despite challenging U.S. market conditions and increased volatility in commodity costs, we remain confident in our ability to deliver strong underlying earnings with contributions coming from our recent acquisition activities,” continued Pileggi. “In addition, second quarter results will benefit by $12 million pre-tax, or $0.13 per diluted share, as a result of recently settled legacy legal claims. As a result of the settlement, we are raising our earnings guidance for the full year 2008 to a range of $3.93 to $4.08 per diluted share. Previously, our guidance was $3.80 to $3.95 per diluted share.”

CORPORATE OVERVIEW

Thomas & Betts Corporation (www.tnb.com) is a leading designer and manufacturer of electrical components used in industrial, commercial, communications and utility markets. The company is also a leading producer of commercial heating and ventilation units and highly engineered steel structures used, among other things, for utility transmission. Headquartered in Memphis, Tenn., the company has manufacturing, distribution and office facilities worldwide. In 2007, Thomas & Betts reported net sales of $2.1 billion.

NOTE: The attached financial tables support the information in this news release:

Consolidated Statements of Operations

Segment Information

Prior-Year Segment Information

Consolidated Balance Sheets

Consolidated Statements of Cash Flows

Impact of 2007 and 2008 Acquisitions

CAUTIONARY STATEMENT

This press release includes forward-looking statements that are identified by terms such as "optimistic," "trend," “will,” and "believe." These statements discuss business strategies, economic outlook and future performance. These forward-looking statements make assumptions regarding the company's operations, business, economic and political environment, including, without limitation, customer demand, government regulation, terrorist acts and acts of war. The actual results may be materially different from any future results expressed or implied by such forward-looking statements. Please see the "Risk Factors" section of the company's Form 10-K for the fiscal year ended December 31, 2007 for further information related to these uncertainties. The company undertakes no obligation to publicly release any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events.

CONFERENCE CALL AND WEBCAST INFORMATION

Thomas & Betts will hold a conference call/webcast to discuss the company’s first quarter 2008 results on Wednesday, April 30, 2008 at 11:00 am ET (10:00 am CT). To access the call, please call 201-689-8341. The call can also be accessed via the Thomas & Betts corporate website at www.tnb.com. The conference call will be recorded and available for replay through 12:00 midnight ET on Wednesday, May 7, 2008. To access the replay, please call 201-612-7415, account number 9517, pass code 281135.

THOMAS & BETTS CORPORATION AND SUBSIDIARIES
Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
	Quarter Ended
	March 31,			March 31,
	2008			2007
Net sales	$	595,504		$	474,552
Cost of sales		409,243			329,687
Gross profit		186,261			144,865
Gross profit - % of net sales		31.3	%		30.5	%
Selling, general and administrative		116,285			87,329
Selling, general and administrative - % of net sales		19.5	%		18.4	%
Earnings from operations		69,976			57,536
Earnings from operations - % of net sales		11.8	%		12.1	%
Interest expense, net		(12,332	)		(3,551	)
Other (expense) income, net		(1,277	)		(160	)
Earnings before income taxes		56,367			53,825
Income tax provision		18,206			16,685
Effective tax rate		32.3	%		31.0	%
Net earnings from continuing operations		38,161			37,140
Earnings from discontinued operations, net		91			-
Net earnings	$	38,252		$	37,140
Basic earnings per share:
Continuing operations	$	0.66		$	0.63
Discontinued operations		-			-
Net earnings	$	0.66		$	0.63
Diluted earnings per share:
Continuing operations	$	0.66		$	0.63
Discontinued operations		-			-
Net earnings	$	0.66		$	0.63
Average shares outstanding:
Basic		57,759			58,593
Diluted		58,192			59,393

THOMAS & BETTS CORPORATION AND SUBSIDIARIES
Segment Information
(In thousands)
(Unaudited)
	Quarter Ended
	March 31,			March 31,
	2008			2007
Net sales:
Electrical	$	508,770		$	389,166
Steel Structures		51,960			53,030
HVAC		34,774			32,356
Total net sales	$	595,504		$	474,552
Segment earnings:
Electrical	$	96,121		$	76,844
Steel Structures		10,042			9,990
HVAC		5,635			5,689
Total reportable segment earnings	$	111,798		$	92,523
Corporate expense		(13,262	)		(17,442	)
Depreciation and amortization expense		(22,040	)		(12,344	)
Share-based compensation expense		(6,520	)		(5,201	)
Interest expense, net and other expense		(13,609	)		(3,711	)
Earnings before income taxes	$	56,367		$	53,825
Segment earnings - % of net sales:
Electrical		18.9	%		19.7	%
Steel Structures		19.3	%		18.8	%
HVAC		16.2	%		17.6	%
Total		18.8	%		19.5	%

THOMAS & BETTS CORPORATION AND SUBSIDIARIES
Prior-Year Segment Information
(In thousands)
(Unaudited)
	2007
	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter			Total Year
Net Sales:
Electrical	$	389,166		$	418,033		$	461,585		$	497,814		$	1,766,598
Steel Structures		53,030			57,082			57,959			59,285			227,356
HVAC		32,356			32,123			33,160			45,295			142,934
Total net sales	$	474,552		$	507,238		$	552,704		$	602,394		$	2,136,888
Segment earnings:
Electrical	$	76,844		$	84,892		$	94,592		$	96,573		$	352,901
Steel Structures		9,990			9,955			10,954			11,724			42,623
HVAC		5,689			5,123			6,180			10,183			27,175
Total reportable segment earnings	$	92,523		$	99,970		$	111,726		$	118,480		$	422,699
Corporate expense		(17,442	)		(13,852	)		(12,261	)		(19,213	)		(62,768	)
Depreciation and amortization expense		(12,344	)		(12,772	)		(15,218	)		(17,432	)		(57,766	)
Share-based compensation expense		(5,201	)		(3,071	)		(2,286	)		(1,919	)		(12,477	)
Interest expense, net and other expense		(3,711	)		(2,806	)		(7,684	)		(11,596	)		(25,797	)
Earnings before income taxes	$	53,825		$	67,469		$	74,277		$	68,320		$	263,891
Segment earnings - % of net sales:
Electrical		19.7	%		20.3	%		20.5	%		19.4	%		20.0	%
Steel Structures		18.8	%		17.4	%		18.9	%		19.8	%		18.7	%
HVAC		17.6	%		15.9	%		18.6	%		22.5	%		19.0	%
Total		19.5	%		19.7	%		20.2	%		19.7	%		19.8	%
During the first quarter of 2008, the Corporation began to report segment earnings before depreciation, amortization and share-based compensation expenses.
Prior periods presented above have been conformed to reflect this current period change.

THOMAS & BETTS CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands)
(Unaudited)
	March 31,		December 31,
	2008		2007
ASSETS
Current assets:
Cash and cash equivalents	$	110,180	$	149,926
Restricted cash		16,569		16,683
Receivables, net		318,838		280,948
Inventories		321,314		271,989
Other current assets		63,820		79,891
Assets of discontinued operations		99,906		106,478
Total current assets		930,627		905,915
Net property, plant and equipment		316,870		305,959
Goodwill		925,927		873,574
Other intangible assets		329,093		299,370
Investments in unconsolidated companies		115,670		115,300
Other assets		66,417		67,668
Total assets	$	2,684,604	$	2,567,786
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current maturities of long-term debt	$	267,629	$	116,157
Accounts payable		193,580		180,333
Accrued liabilities		166,237		154,337
Liabilities of discontinued operations		23,436		18,146
Total current liabilities		650,882		468,973
Long-term debt		590,123		695,048
Other long-term liabilities		175,450		174,831
Shareholders' equity		1,268,149		1,228,934
Total liabilities and shareholders' equity	$	2,684,604	$	2,567,786

THOMAS & BETTS CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
	Year to Date
	March 31,			March 31,
	2008			2007
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$	38,252		$	37,140
Adjustments:
Depreciation and amortization		22,040			12,344
Changes in operating assets and liabilities, net(a):
Receivables		(30,605	)		(32,100	)
Inventories		(32,606	)		(1,895	)
Accounts payable		14,114			7,100
Accrued liabilities		(10,162	)		(3,245	)
Other		10,661			13,829
Net cash provided by (used in) operating activities		11,694			33,173
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment		(8,139	)		(6,392	)
Purchases of businesses		(90,583	)		-
Other		191			149
Net cash provided by (used in) investing activities		(98,531	)		(6,243	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term debt and other borrowings		76,510			-
Repayment of long-term debt and other borrowings		(30,162	)		(137	)
Repurchase of common shares		-			(93,541	)
Other		956			5,607
Net cash provided by (used in) financing activities		47,304			(88,071	)
EFFECT OF EXCHANGE RATE ON CASH		(213	)		39
Net increase (decrease) in cash and cash equivalents		(39,746	)		(61,102	)
Cash and cash equivalents at beginning of period		149,926			370,968
Cash and cash equivalents at end of period	$	110,180		$	309,866
Cash payments for interest	$	11,346		$	4,994
Cash payments for income taxes	$	8,871		$	10,739
(a) Net of foreign exchange and acquisition effects

THOMAS & BETTS CORPORATION AND SUBSIDIARIES
Impact of 2007 and 2008 Acquisitions
(In thousands)
(Unaudited)
Impact on Earnings from Operations
				Quarter Ended
				March 31,
				2008
Net sales				$	108,626
Cost of sales					74,094
Gross profit					34,532
Gross profit - % of net sales					31.8	%
Selling, general and administrative					27,242
Selling, general and administrative - % of net sales					25.1	%
Earnings from operations				$	7,290
Earnings from operations - % of net sales					6.7	%
Electrical Segment Earnings Impact
	Quarter Ended
	March 31, 2008
	Base			Acquisitions			Total
Net sales	$	400,144		$	108,626		$	508,770
Segment earnings	$	79,168		$	16,953		$	96,121
Segment earnings - % of net sales		19.8	%		15.6	%		18.9	%
Additional Information
	Quarter Ended
	March 31, 2008
							Included in			Included in
	Cost of						Earnings from			Segment
	Sales			SG&A			Operations			Earnings
Integration and related expenses(a)	$	2,542		$	687		$	3,229		$	3,229
Depreciation and amortization expense:
non-recurring	$	-		$	912		$	912		$	-
recurring		1,593			6,843			8,436			-
	$	1,593		$	7,755		$	9,348		$	-
Share-based compensation expense	$	-		$	315		$	315		$	-
(a) SG&A includes $567 of integration expenses not charged against acquisition earnings above.
Note: Information above does not include impact of discontinued operations.

CONTACT:
Thomas & Betts Corporation
Tricia Bergeron, 901-252-8266
tricia.bergeron@tnb.com