earlier this year, said diluted earnings per share for the fourth quarter doubled from last year before non-recurring IPO-related charges.

Tycom said diluted earnings per share for the fourth quarter ended September 30, 2000, were 18 cents before non-recurring IPO-related charges, compared to 9 cents for the same quarter last year.

Net income before non-recurring charges grew by 119 percent to $89.9 million, compared to last year's $41 million. EBITDA (1) before non-recurring IPO-related charges increased 74 percent to $155.9 million, compared to last year's $89.6 million.

Revenues for the quarter rose 16 percent to $587.5 million, compared to $506.7 million for the comparable quarter in 1999.

Net income before non-recurring IPO-related charges for fiscal year 2000 rose to $313.8 million, or 68 cents per share, compared to last year's earnings of 36 cents per share. After giving effect to non-recurring IPO-related charges, diluted earnings for fiscal year 2000 were 66 cents per share, or $303.3 million.

Revenues for the year increased 55 percent to $2.54 billion, versus last year's $1.64 billion.

"As the world's only fully integrated system supplier and network owner, we believe that TyCom's business model is unique and provides a competitive advantage,'' said L. Dennis Kozlowski, Executive Chairman of TyCom and chairman and CEO of Tyco International.

"This is a great beginning for TyCom as a new public company,'' said Neil Garvey, President and CEO of TyCom. "Across the board we had outstanding results and record growth. We have in place a solid foundation for continued strong performance. Cash flow from our $2.9 billion backlog along with our $2 billion available cash will provide the funding to build the TyCom Global Network. The outlook for the coming year is for continued strength in system sales and the on-time deployment of our global network,'' he added.