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Cooper Industries Reports Strong Fourth Quarter Results

DUBLIN Jan. 26, 2011 $1.26 billion $1.10 billion $.85 $.76

Kirk S. Hachigian

$4.75 billion $4.51 billion $537.5 million $413.6 million $3.20 $2.46

$606.6 million December 31 $393.4 million $250 million $250 million

Segment Results

Energy & Safety Solutions $676.7 million $588.5 million $113.8 million $93.8 million

$2.52 billion $2.42 billion $424.7 million $374.9 million

Electrical Products Group $583.2 million $514.6 million $80.4 million $77.4 million

$2.24 billion $2.10 billion $330.7 million $263.3 million

July 4, 2010 $12.3 million $12.7 million $93.7 million $.56

Outlook

"We exit 2010 with strong core revenue growth performance, improving end-markets, and an exceptionally strong balance sheet. Our diverse portfolio and exposure to emerging global markets, innovative products and technologies have us well positioned for solid growth in 2011 and beyond.  We will continue to fund our core businesses, invest in new products and technologies and increase our presence in strategic international markets to drive future growth. Our balance sheet provides us with the financial flexibility to make strategic acquisitions and continue to return capital to our shareholders," commented Hachigian.

$3.60 to $3.80 $.80 to $.84 $.05

About Cooper Industries

$5.1 billion the United States www.cooperindustries.com

Comparisons of 2010 and 2009 fourth quarter results appear on the following pages.

Statements in this news release are forward looking under the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, but are not limited to, any statements regarding future revenues, costs and expenses, earnings, earnings per share, margins, cash flows, dividends and capital expenditures.  Important factors which may affect the actual results include, but are not limited to, political developments, market and economic conditions, changes in raw material, transportation and energy costs, industry competition, the ability to execute and realize the expected benefits from strategic initiatives including revenue growth plans and cost control and productivity improvement programs, the ability to develop and introduce new products, the magnitude of any disruptions from manufacturing rationalizations, changes in mix of products sold, mergers and acquisitions and their integration into Cooper, the timing and amount of any stock repurchases by Cooper, changes in financial markets including currency exchange rate fluctuations, changing legislation and regulations including changes in tax law, tax treaties or tax regulations, and the resolution of potential liabilities and insurance recoveries resulting from on-going Pneumo-Abex related asbestos claims.

Conference Call

noon EST www.cooperindustries.com

www.cooperindustries.com

www.cooperindustries.com

Contact:

Mark Doheny

Director, Investor Relations

713-209-8484

[email protected]

CONSOLIDATED RESULTS OF OPERATIONS

Quarter Ended December 31,

2010

2009

(in millions where applicable)

Revenues

$  1,259.9

$1,256.6

Cost of sales

842.9

837.5

Selling and administrative expenses

249.0

254.4

Equity in (income) of Apex Tool Group, LLC

(12.3)

Restructuring and asset impairment charges

           –

        4.2

       Operating earnings

180.3

160.5

Interest expense, net

      13.2

      14.0

       Income before income taxes

167.1

146.5

Income taxes

      25.2

      17.7

       Net income

$   141.9

$   128.8

Net Income Per Common share:

Basic

$       .87

$       .77

Diluted

$       .85

$       .76

Shares Utilized in Computation of Income Per Common Share:

      Basic

163.8 million

167.5 million

      Diluted

166.2 million

169.4 million

PERCENTAGE OF REVENUES

Quarter Ended December 31,

2010

2009

Revenues

100.0%

100.0%

Cost of sales

66.9%

66.6%

Selling and administrative expenses

19.8%

20.2%

Operating earnings

14.3%

12.8%

Income before income taxes

13.3%

11.7%

Net Income

11.3%

10.2%

CONSOLIDATED RESULTS OF OPERATIONS (Continued)

Additional Information for the Quarter Ended December 31

Segment Info rmation

Quarter Ended December 31,

2010

2009

(in millions)

Revenues:

       Energy & Safety Solutions

$     676.7

$     588.5

       Electrical Products Group

      583.2

      514.6

            Total Electrical Segments

$  1,259.9

$  1,103.1

       Tools

              –

      153.5

             Total

$  1,259.9

$  1,256.6

Segment Operating Earnings:

       Energy & Safety Solutions

$     113.8

$       93.8

       Electrical Products Group

80.4

77.4

       Tools

             –

       12.7

             Total Segment Operating Earnings

194.2

183.9

General Corporate Expense

26.2

19.2

Equity in (income) of Apex Tool Group, LLC

(12.3)

Restructuring and asset impairment charges

4.2

Interest expense, net

       13.2

       14.0

Income from operations before income taxes

$    167.1

$    146.5

Quarter Ended December 31,

2010

2009

Return on Sales:

       Energy & Safety Solutions

16.8%

15.9%

       Electrical Products Group

13.8%

15.0%

               Total Electrical Segments

15.4%

15.5%

Im pact of Unusual Items

Income Before

Income Taxes

Income

Taxes

Net Income

Net Income Per

Common Share

  Basic

Diluted

Reported three months ended December 31, 2010

$  167.1

$     25.2

$    141.9

$  .87

$   .85

Reported three months ended December 31, 2009

$   146.5

$    17.7

$    128.8

$  .77

$  .76

Restructuring  and asset impairment charges

4.2

0.6

3.6

.02

.02

Tax Benefits

            –

        3.2

        (3.2)

 (.02)

 (.02)

Excluding adjustments

$   150.7

$     21.5

$    129.2

$  .77

$  .76

CONSOLIDATED RESULTS OF OPERATIONS

Twelve Months Ended

December 31,

2010

2009

(in millions where applicable)

Revenues

$  5,065.9

$5,069.6

Cost of sales

3,380.6

3,483.8

Selling and administrative expenses

986.1

1,011.8

Equity in (income) of Apex Tool Group, LLC

(22.8)

Loss related to contribution of net assets to Apex Tool Group, LLC

134.5

Restructuring and asset impairment charges

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