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Article: Cooper Industries Reports Record Net Income for 1997 Fourth quarter Diluted Share Earnings up 18%
- Article from:
- PR Newswire
- Article date:
- January 26, 1998
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HOUSTON, Jan. 26 /PRNewswire/ -- Cooper Industries, Inc. (NYSE: CBE) announced today that the company's net income rose 25% to a record $394.6 million from $315.4 million in 1996. Diluted share earnings rose 18% to $3.26 from $2.77 in 1996. Revenues for the year were $5.3 billion, equaling the previous year despite the sale in May of the company's Kirsch window treatments business and the strong U.S. dollar. Revenues for the year, excluding Kirsch, increased 3%.
For the three months ended December 31, 1997, Cooper's net income rose 24% to $108.9 million, compared with $87.7 million in 1996. Diluted share earnings were 90 cents, up 18% from 76 cents in the ...