Tyco international consolidating financial statements
Tyco has over 57,000 employees in more than 900 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. CONFERENCE CALL AND WEBCAST Management will discuss the company's third quarter results for 2016 during a conference call and webcast today beginning at NON-GAAP MEASURES Organic revenue, free cash flow (outflow) (FCF), and income from continuing operations, earnings per share (EPS) from continuing operations, operating income and segment operating income, in each case "before special items," are non-GAAP measures and should not be considered replacements for GAAP results.Organic revenue is a useful measure used by the company to measure the underlying results and trends in the business.Organic revenue increased 2%, with 2% growth in service and a 2% increase in integrated solutions.Acquisition growth of 7% was more than offset by a 9% decline related to divestitures.Backlog of increased 14% year over year, partly driven by acquisition activity, and 2% on a quarter sequential basis, excluding the impact of foreign currency and divestitures.Operating income for the quarter was and the operating margin was 11.6%.
There are limitations associated with organic revenue, such as the fact that, as presented herein, the metric may not be comparable to similarly titled measures reported by other companies.All dollar amounts are pre-tax and stated in millions.All comparisons are to the fiscal third quarter of 2015 unless otherwise indicated.These limitations are best addressed by using organic revenue in combination with the GAAP numbers.Organic revenue may be used as a component in the company's incentive compensation plans.
North America Integrated Solutions & Services increased 3% from the prior year.