comfortable with Wall Street consensus estimates for higher second-quarter and full-year earnings, Chief Executive L. Dennis Kozlowski said on Wednesday.

Analysts' consensus estimates are 61 cents per share for the second quarter and $2.75 for the full year, according to research firm First Call/Thomson Financial. A year earlier, Tyco earned 50 cents a share in the second quarter and $2.18 for the full year.

At the Salomon Smith Barney Global Industrial Manufacturing Conference, Kozlowski said that despite the slowdown in the US economy, Tyco "continues to see strong demand in each of our operating segments''. He added that "the fundamentals of our business remain excellent''.

Tyco "just completed an outstanding first quarter in terms of sales and earnings... marked by a continuation of the strong organic growth we experienced during our last fiscal year,'' he said.

Shares of Tyco were up 50 cents to $54.70 in New York Stock Exchange morning trade. The stock has a 52-week range of $37.25 to $63.21.