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UPDATE 1-Cooper Industries quarterly profit rises
July 25, 2012 / 12:18 PM / 5 years ago

UPDATE 1-Cooper Industries quarterly profit rises

(Adds detail on sales, comparison with estimates)

July 25 (Reuters) - Electrical products maker Cooper Industries Plc, which has agreed to be bought by Eaton Corp in an $11.8 billion deal, reported higher-than-expected quarterly profit on Wednesday, helped by demand from the utility and energy sectors.

Net earnings rose to $189 million, or $1.17 per share, compared with $161.4, or 96 cents per share, a year before.

Analysts, on average, were expecting profit of $1.11 a share, according to Thomson Reuters I/B/E/S.

Sales rose 7 percent to $1.47 billion, matching estimates.

Cooper said it would not hold an analyst conference call or give a forecast pending its acquisition by Eaton, which Eaton said this week is expected to close by the end of the year.

Reporting By Nick Zieminski in New York; Editing by Gerald E. McCormick

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