TRENTON, N.J. (AP) -- Bermuda-registered Industrial conglomerate Tyco International Ltd., moving toward its planned breakup, said today second-quarter profit slipped seven percent as separation costs and higher overhead offset revenue growth.

Tyco, which is splitting into three companies, said net income in the quarter ended March 30 fell to $835 million, or 41 cents per share, from $895 million, or 43 cents per share, a year ago. All four of its business segments saw operating income declines.

Tyco, which has operating headquarters in West Windsor, New Jersey, still beat Wall Street expectations, but its shares fell more than 1 percent today.

Se full story in tomorrow's Royal Gazette