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Article: Cooper Industries' Third Quarter Per Share Earnings Up 10 Percent; Strong Top-Line Growth in Electrical Products Drives Positive Results.
- Article from:
- PR Newswire
- Article date:
- October 21, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON, Oct. 21 /PRNewswire/ -- Cooper Industries, Inc. (NYSE: CBE) today reported third-quarter earnings per share of 89 cents (assuming dilution), a 9.9 percent increase over third-quarter 1998 earnings of 81 cents per share. Revenues for the third quarter 1999 were up 6.3 percent to $982.2 million compared to $924.0 million for the same period last year. Net income for the third quarter 1999 declined to $84.4 million from $93.2 million in the same period last year due to the absence of $25.9 million of earnings from the Automotive Products segment, which was sold in October of last year.
"Our third-quarter results clearly underscore the effectiveness of our ...