Cooper Industries plc, Dublin, Ireland (with U.S. headquarters in Houston), reported core revenue growth of 14.1 percent in the fourth quarter, rising to $1.26 billion compared with $1.10 billion for the same period last year.
“We are very pleased to report record core revenue growth in the fourth quarter for the combined Electrical Segments, a result of the improving conditions in our global end-markets and the continued success of our key growth initiatives. Our core growth accelerated in the quarter, as our industrial markets remained strong, utility markets continued to improve and demand for energy-efficient lighting technologies such as LED gained additional momentum,” said Cooper chairman and CEO Kirk Hachigian.
The company’s Electrical Products Group grew revenues 13.3 percent in the quarter to $583.2 million and operating earnings increased almost 4 percent to $80.4 million.