Cooper Industries plc (NYSE: CBE) of Dublin, Ireland,
reported record second quarter earnings per share of $1.17, an increase of 22%
compared to earnings per share of $.96 for the same period last year. The
company’s total operating profit margin was 16.7% for the second quarter of
2012, up from 15.8% in the same period last year.
The company’s second quarter revenues increased $100.8
million, or 7.4%, to $1.47 billion compared to revenues of $1.37 billion in the
second quarter of 2011. 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.
During the first six months of 2012, the company reported
free cash flow of $181.0 million. The
company’s total debt net of cash as of June 30 was $720.7 million, which
resulted in a 15.8% net debt-to-capitalization ratio.
During the second quarter, Cooper Industries recognized
$10.7 million in expenses relating to the previously-announced Eaton
Corporation (NYSE: ETN) transaction and certain legacy environmental issues,
primarily offset by a $9.1 million gain from the sale of the Envirotemp FR3
fluid business and brand.