Cooper Industries revenues up 7.4%
Cooper Industries reported second quarter 2012 revenues increased 7.4% to $1.47 billion compared to $1.37 billion in the second quarter of the prior year.
Core revenue growth was 5.5%, with acquisitions adding 3.6% and currency translation reducing reported revenues by 1.7% when compared to the prior year.
Net income was $189 million, or $1.17 per share, compared to $161.4 million, or 96 cents for the same period last year.
Energy & Safety Solutions Segment revenues for the quarter increased 5.7% to $793.6 million, compared with $751.1 million in the second quarter 2011.
Electrical Products Group Segment revenues for the quarter increased 9.4% to $676.1 million, compared with $617.8 million in the second quarter 2011.
Growing sales in the industrial and utility markets boosted sales in the United States and Canada by 6%, while in Western Europe, core growth was up 1.3%.
Core growth for developing markets was 8%. Latin America, Australia and the Middle East experienced strong double-digit core growth due to continued demand related to large global energy projects, while China experienced slightly negative core growth, reflecting the slowdown in industrial project activity and consumer-related end markets.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
