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Short Take: TyCom reports fourth-quarter profit

TyCom, the undersea fiber-optic network spinoff of Tyco, posted a fourth-quarter profit, excluding one-time IPO-related charges, of $89.9 million, or 18 cents a share, compared with net income of $41 million, or 9 cents a share, for the same period last year. Wall Street expected the company to earn 10 cents a share, according to First Call/Thomson Financial. TyCom's quarterly revenue increased to $587.5 million, up from $506.7. In July, TyCom offered stock in the company via an initial public stock offering (IPO).

    TyCom, the undersea fiber-optic network spinoff of Tyco, posted a fourth-quarter profit, excluding one-time IPO-related charges, of $89.9 million, or 18 cents a share, compared with net income of $41 million, or 9 cents a share, for the same period last year. Wall Street expected the company to earn 10 cents a share, according to First Call/Thomson Financial. TyCom's quarterly revenue increased to $587.5 million, up from $506.7. In July, TyCom offered stock in the company via an initial public stock offering (IPO).