HOUSTON (Dow Jones/AP) ? Electrical products and tool manufacturer Cooper Industries Ltd. had a higher profit in the latest quarter from a year earlier despite rising costs.

The Bermuda-registered but Houston-based company said it earned $104 million, or $1.10 a share, on revenue of $1.19 billion in the fourth quarter.

The latest quarter included about 3 cents a share from a reduction in the effective tax rate to 21 percent for the year; about 3 cents a share related to finalisation of the exit liability for a multi-employer pension plan; and about 3 cents a share in costs related to a previously announced cost-reduction program.

In the same period a year earlier, it earned $88.9 million, or 94 cents a share, on revenue of $1.15 billion.

Analysts were expecting earnings of $1.06 a share, according to Thomson Financial.

In the year ended December 31, the company earned $3.91 million, or $4.12 a share, on revenue of $4.73 billion.

In the previous year, it earned $339.8 million, or $3.58 a share, on revenue of $4.46 billion.

Cooper Industries said it continues to see opportunities in international markets, particularly in Eastern Europe, the Middle East and Asia. Although it expects residential markets may slow, the decline should be moderate.

The company expects 2006 earnings to increase 12 to 15 percent, with revenue gains in the range of four to six percent.

Shares of Cooper Industries fell 3 cents to $78.66 in afternoon trading on the New York Stock Exchange.