Cooper Posts Fourth-Quarter Profit

Jan. 28, 2005
Cooper Industries Ltd., Houston, reported fourth-quarter net income of $88.9 million vs. a year-earlier loss of $51.3 million.

Cooper Industries Ltd., Houston, reported fourth-quarter net income of $88.9 million vs. a year-earlier loss of $51.3 million.

Revenue came in at $1.15 billion, up from $1.04 billion a year ago.

Sales in Cooper’s electrical products segment grew 11 percent to $950.4 million in the fourth quarter.The company’s electrical products businesses generated solid revenue increases during the 2004 fourth quarter, led by strong demand from utility and commercial and industrial customers. Sales also benefited from price increases in response to higher commodity costs.

Looking ahead to 2005, Cooper said it expects full-year profit to grow in a range of 10 to 15 percent.

“As we enter 2005, we are optimistic regarding conditions in most of our served markets,” said Chairman John Riley. “However, we also recognize that residential construction markets have likely peaked and that cost pressures for certain commodity-based products will continue to be a challenge.”