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COOPER'S 1991 SHARE EARNINGS ROSE 7 PERCENT TO NEW RECORD

 COOPER'S 1991 SHARE EARNINGS ROSE 7 PERCENT TO NEW RECORD
 HOUSTON, Jan. 28 /PRNewswire/ -- Fully diluted share earnings for


Cooper Industries, Inc. (NYSE: CBE) rose 7 percent to another record in 1991. It was the eighth consecutive yearly increase for the company, resulting in a compound annual growth rate of 21 percent since 1983.
 For the year ended Dec. 31, 1991, Cooper's net income rose to $393.2 million, or $3.01 a fully diluted share, compared with $361.4 million, or $2.81 a fully diluted share the previous year. Revenues were down slightly to $6.16 billion, compared with $6.22 billion in 1990.
 For the fourth quarter, fully diluted share earnings rose 8 percent to 92 cents from 85 cents in 1990. Net income for the three-month period rose to $120.6 million on revenues of $1.6 billion, compared with 1990 fourth-quarter net income of $109.1 million on slightly higher revenues of $1.7 billion.
 Chairman and President Robert Cizik said he is pleased with the company's performance for both the quarter and the year, in light of the persistent weakness in the economy. "The year-long decline in economic activity in the U.S. and many other industrial countries took its toll on sales in almost all of our business areas," he said.
 Demand from industrial, construction and consumer markets remained below last year's level, impacting sales of electrical products such as fuses, lighting fixtures and cable; distribution transformers; hand tools; window coverings and hardware; industrial compressors; and forgings. In addition, heightened concerns about the timing of a recovery caused many distributors to reduce inventories, further slowing sales in some areas. The impact on the company's automotive operations was more moderate, reflecting less volatile demand for replacement parts, Cizik explained.
 Nevertheless, earnings from these operations held up well. The impact of the revenue decline on earnings was moderated through a variety of actions, including cost management programs to meet deteriorating market conditions, ongoing consolidation of operations and other operating improvements.
 Overall, declines in the Electrical Products, Electrical Power Equipment, Tools & Hardware and Automotive Products segments were largely offset by higher earnings for Petroleum & Industrial Equipment. "Our petroleum equipment operations continued their recovery from the depressed levels of the 1980s. While we faced soft demand from the domestic gas exploration market, most international markets were strong and improving," Cizik said.
 Because of the company's debt structure and efforts to reduce the effects of higher foreign tax rates, decreased interest expense and a slightly lower tax rate were major factors in the higher earnings.
 Cizik said he hopes for some improvement in the economy by mid-1992, which would translate into higher sales and earnings for Cooper. "At this point, however, we don't see much change, either for the better or worse. Actions taken in 1991 to respond to the distressed conditions of many of our markets, along with our efforts to deliver the best value to our customers and our continued efficiency improvement programs, should contribute to earnings growth under the current circumstances," he concluded.
 COOPER INDUSTRIES, INC.
 (Millions except shares)
 Three months ended Dec. 31 1991 1990
 Revenues $1,555.4 $1,669.9
 Costs and expenses:
 Cost of sales 1,014.2 1,096.3
 Depreciation and amortization 65.7 63.6
 Selling and administrative 235.8 256.7
 Interest expense 35.9 57.2
 Total 1,351.6 1,473.8
 Income before income taxes 203.8 196.1
 Taxes on income 83.2 87.0
 Net income 120.6 109.1
 Preferred dividends 12.9 12.5
 Net income applicable to common stock 107.7 96.6
 Net income per common share:
 Primary $.95 $.87
 Fully diluted(A) .92 .85
 Shares utilized in computation of
 net income per common share:
 Primary 113,269 110,808
 Fully Diluted(A) 131,851 129,421
 (A) -- The computation of fully diluted earnings per share for the quarter assumes the conversion of the 7 percent debentures and the $1.60 preferred to common stock. As a result, interest on the debentures, net of tax, is added back to net income and the preferred dividends are not deducted in this computation.
 Twelve months ended Dec. 31 1991 1990
 Revenues $6,162.6 $6,222.2
 Costs and expenses:
 Cost of sales 4,129.4 4,187.9
 Depreciation and amortization 258.0 238.5
 Selling and administrative 945.4 953.0
 Interest expense 161.2 214.2
 Total 5,494.0 5,593.6
 Income before income taxes 668.6 628.6
 Taxes on income 275.4 267.2
 Net income 393.2 361.4
 Preferred dividends 50.9 50.0
 Net income applicable to common stock 342.3 311.4
 Net income per common share:
 Primary $3.04 $2.81
 Fully Diluted(A) 3.01 2.81
 Shares utilized in computation of
 net income per common share:
 Primary 112,499 110,846
 Fully diluted(A) 131,052 110,926
 (A) -- The current-year computation of fully diluted earnings per share assumes the conversion of the 7 percent debentures and the $1.60 preferred to common stock. As a result, interest on the debentures, net of tax, is added back to net income and the preferred dividends are not deducted in this computation.
 Houston-based Cooper Industries is a diversified, worldwide manufacturer of electrical products, electrical power equipment, tools and hardware, automotive products, and petroleum and industrial equipment.
 -0- 1/28/92
 /CONTACT: Ellen H. Myers of Cooper Industries, 713-739-5423/
 (CBE) CO: Cooper Industries Inc. ST: Texas IN: OIL SU: ERN


CK -- NY064 -- 4270 01/28/92 13:00 EST
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Date:Jan 28, 1992
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