COOPER INDUSTRIES (NYSE:CBE)

“In the second quarter, while our book-to-bill ratio stabilized, we did not experience the normal seasonal increase in revenues. As a result, our revenue for the quarter was at the low end of our forecast; however, our intense cost management across the company allowed us to deliver earnings per share at the top end of the forecast,” said Cooper Industries’ Chairman and Chief Executive Officer Kirk S. Hachigian.

Cooper Industries has revised its previously issued forecast.

^aThe above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

^b Non-GAAP EPS figures generally exclude certain non-operating gains and losses as well as certain non-cash items. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information . For a more complete explanation of the company's definition of Non-GAAP please refer to its financial press releases. The GeoTeam® non- GAAP figures may, from time to time, differ from company supplied figures.

“We are very proud of our employees for their efforts in maintaining a high level of customer service and managing our overall cost structure during a very challenging economic period. As a result of those efforts, we are well prepared to navigate a very difficult market environment. We remain positive about the long-term direction of our end markets, global penetration and trends in new technologies. We have been refining our strategy, business initiatives and core values for several years and this gives us confidence that we will emerge from the current economic cycle stronger and better positioned to continue to perform as a premier global, industrial company. Our balance sheet also provides us exceptional resource to execute our long-term strategy,” commented Hachigian. Given the uncertain trends in our markets in the first quarter, we are taking a conservative position and approach to the remainder of 2009,”

The company initiated second quarter guidance and reduced its previously reported full year 2009 guidance.

^a The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

^b Non-GAAP EPS figures generally exclude certain non-operating gains and losses as well as certain non-cash items. Non-GAAP information should not be viewed in isolation or as a substitute for reported, or GAAP information . For a more complete explanation of the company's definition of non-GAAP please refer to its financial press releases. The GeoTeam® non-GAAP figures may, from time to time, differ from company supplied figures.

Guidance Report:

EPS Figures exclude one time gains and charges (Non-GAAP).

 Source: Business Wire (January 27, 2009)