Bermuda-based Tyco International Ltd. reported first quarter earnings in line with expectations Tuesday, but lowered its second quarter estimates citing continued weakness in its electronics segment. The news sent Tyco shares tumbling nine percent.

During a conference call, company officials said projected second-quarter earnings of 80 cents to 82 cents a share, below the 86 cents Wall Street had been predicting.

For the first quarter, the company earned $1.45 billion, or 73 cents a share, compared with $317 million, or 18 cents per share in the year-earlier period. Analysts surveyed by Thomson Financial/First Call had pegged first quarter results at 73 cents per share.

Profits in the electronics segment fell 34 percent to $631 million in the first quarter, while revenues fell 19 percent to $3.1 billion.

Companywide revenues for the first quarter rose 20 percent to $10.1 billion compared with last year's $8.4 billion.

Tyco is a manufacturing and service company. Its products include electronic equipment, fire and security systems and disposable medical supplies.