Oct 19 Cooper Industries Plc, the
electrical products maker that agreed to a takeover by Eaton
Corp, reported higher-than-expected quarterly profit and sales,
helped by lighting demand in North America and growth in
international energy projects.
Net earnings in the third quarter rose 18 percent to $188.4
million, or $1.16 per share, compared with $160.2 million, or 98
cents per share, a year ago, it said on Friday.
The results beat the average analyst estimates by 2 cents,
according to Thomson Reuters I/B/E/S.
Sales increased 8 percent to $1.50 billion, also ahead of
expectations. U.S. and Canada sales were up slightly while
Western Europe was down.
Sales grew by double digits in developing economies,
including Latin America and China. Electronics and utility
markets revived in China, Cooper said.
Cooper, which has agreed to an $11.8 billion acquisition by
industrial conglomerate Eaton, said it would no longer
forecast results. A shareholder vote on the deal is set for next