UPDATE 1-Tyco Electronics quarterly profit sinks

NEW YORK, Nov 4 (Reuters) - Electronic connector maker Tyco Electronics Ltd (TEL.N: Quote, Profile, Research) posted a sharp decline in quarterly net profit and said a slowdown in its undersea fiber optics business would weigh on sales in the current quarter.

The company, which also makes wireless systems, reported a net profit of $93 million, or 20 cents per share, for the fourth quarter ended on Sept. 25, compared with $202 million, or 43 cents per share, a year earlier.

Excluding items, earnings were 30 cents per share, beating analysts' forecasts of 27 cents, according to Thomson Reuters I/B/E/S.

Sales fell 25 percent to $2.7 billion, compared with Wall Street forecasts of $2.6 billion.

Tyco Electronics, whose rivals include Molex Inc (MOLX.O: Quote, Profile, Research) and Amphenol Corp (APH.N: Quote, Profile, Research), said it expected to earn 25 cents to 29 cents per share from continuing operations in the current quarter.

"In the first quarter, we expect our sales to be flat to up slightly due to continued strengthening in our Electronic Components segment, partially offset by the continued slowdown in our Undersea Telecommunications business," Chief Executive Officer Tom Lynch said in a statement. (Reporting by Christopher Kaufman; Editing by Lisa Von Ahn)