Costs Pull Down Net Income at Tyco

Tyco International Ltd.’s fiscal second-quarter profit fell 75% because of costs to retire debt, write down assets and establish a reserve for a 3-year-old Securities and Exchange Commission investigation.

Net income dropped to $192 million, or 9 cents a share, in the quarter ended April 1 from $783 million, or 37 cents, a year earlier, the Bermuda-based conglomerate said. Sales rose 6.5% to $10.46 billion.