TE Connectivity says full-year net sales were US$13.9bn, up 5% on an actual and organic basis versus the prior year, while fourth quarter net sales increased to US$3.58bn.

The company also returned US$1bn to shareholders through share repurchases and dividends.

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“The fourth quarter was a strong finish to a record year for the company,” said TE Connectivity chairman and CEO, Tom Lynch.

“Our performance was led by continued momentum in our transportation and industrial segments and our appliances business. Our adjusted operating margins improved to 16% on higher volume and benefits driven by our TE Operating Advantage (TEOA) programme.   

“I am really pleased with our team’s achievements for the full year just ended. Sales grew 5% to US$13.9bn and adjusted EPS increased 17% to US$3.79, new records for the company.

“Our strong performance generated $1.7bn free cash flow enabling us to make key strategic investments and return US$1bn to shareholders.”

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