Tyco International Ltd., the biggest maker of security systems, reported on Tuesday its first-quarter results. After last year’s financial scandal Tyco’s new management tries to cut expenses and raise profitability of the giant. Tyco cut 8,100 jobs and sold 27 businesses in 2004.

Earnings fell to $709 million, or 33 cents a share, from $719 million, or 34 cents, last year. Excluding costs of $174 million, or 7 cents a share, earnings rose to 35 cents a share from 34 cents last year. Analysts were expecting 42 cents a share. Revenue rose 4.1% to $10.07 billion from $9.67 billion. Also the company announced a quarterly dividend of 10 cents a share.

In the second quarter Tyco forecasts EPS in the range of 45 cents to 47 cents. For the year, it expects EPS of $1.88 to $1.98. Analysts are expecting 47 cents and $1.96.