ADT 2009 Annual Report Download - page 11
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To Our Shareholders:
In 2009, we experienced some of the weakest global
economic conditions seen in decades. I was pleased with
our operating performance and the results we delivered
in this challenging environment. I was also proud
of how effectively our team reacted to the changing
business conditions as we adjusted our cost structure and
continued investing for growth, positioning our company
for continued success in the future. And while the global
recession impacted parts of our company in different ways,
we are fortunate to have a diverse business mix including
our recurring revenue and service activities, which held
up quite well and grew throughout the year.
EDWARD D. BREEN
CHAIRMAN AND
CHIEF EXECUTIVE OFFICER
TYCO INTERNATIONAL LTD.
CHAIRMAN’S
LETTER
_ 9