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Cooper Industries' Electrical segments reports record growth in earnings-per-share

April 25, 2011
Cooper Industries, Dublin, Ireland, reported record earnings and core revenue growth for the combined Electrical Segmentsf or 1Q 2011. Cooper Industries' chairman and CEO, Kirk Hachigian said in a press release, "The utility markets snapped back sharply, ...

Cooper Industries, Dublin, Ireland, reported record earnings and core revenue growth for the combined Electrical Segmentsf or 1Q 2011. Cooper Industries' chairman and CEO, Kirk Hachigian said in a press release, "The utility markets snapped back sharply, our industrial markets remained strong, and demand for energy-efficient technologies such as LED lighting gained additional momentum." Total revenue, excluding the Cooper Tools division, increased $196 million, or 18%, to $1.28 billion for the first quarter of 2011 from revenues of $1.08 billion in the first quarter of the prior year.

Hachigian also said in in the earnings announcement that the company expects full-year revenue growth of 8 to 11 percent, excluding Tools segment revenue from 2010, and revenue growth of 10 to 13 percent compared to the second quarter of 2010, again excluding Tools revenue.

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