Tue, Jul 29, 2014, 5:13 AM EDT - U.S. Markets open in 4 hrs 17 mins

Recent

% | $
Click the to save as a favorite.

The Cooper Companies Inc. Message Board

  • bluecheese4u bluecheese4u Sep 6, 2012 4:49 PM Flag

    The Cooper Companies Announces Third Quarter 2012 Results

    The Cooper Companies Announces Third Quarter 2012 Results

    PLEASANTON, Calif., Sept. 6, 2012 (GLOBE NEWSWIRE) -- The Cooper Companies, Inc. (NYSE:COO) today announced financial results for the fiscal third quarter ended July 31, 2012.
    • Revenue increased 8% year-over-year to $378.2 million. CooperVision (CVI) revenue up 5% to $314.2 million and CooperSurgical (CSI) revenue up 20% to $64.0 million.
    • GAAP earnings per share (EPS) $1.36, up 46 cents or 51% from last year's third quarter.
    • Non-GAAP EPS $1.45, up 30 cents from last year's third quarter. See "Reconciliation of Non-GAAP EPS to GAAP EPS" below.
    • Free cash flow $62.9 million.

    Commenting on the results, Robert S. Weiss, Cooper's president and chief executive officer said, "I'm very proud of the progress we made this quarter. We continued to execute on our long-range objectives with CooperVision gaining market share and CooperSurgical posting another strong quarter. We also closed on the acquisition of Origio, the leading global in-vitro fertilization (IVF) medical device company. Our business continues to perform well and we remain optimistic about continuing to deliver strong results."

    Third Quarter GAAP Operating Highlights
    • Revenue $378.2 million, 8% above third quarter 2011, 9% excluding currency and acquisitions.
    • Gross margin 63% compared with 58% in last year's third quarter. The improvement was the result of improved margins at both CooperVision and CooperSurgical, and the $14.2 million Avaira® recall reserve for inventory and return provisions in last year's third quarter.
    • Operating margin 20% compared with 15% in last year's third quarter. The improvement was primarily the result of gross margin improvements.
    • Depreciation $21.9 million, up 10% from last year's third quarter. Amortization $5.9 million, up 7% from last year's third quarter primarily related to additional amortization from the acquisition of Origio.
    • Total debt increased $160.8 million from April 30, 2012, to $480.1 million due mainly to the Origio acquisition. Interest expense was $2.3 million compared with $3.2 million in last year's third quarter. Excluding a $0.4 million gain associated with the Origio acquisition, interest expense would have been $2.7 million.
    • Cash provided by operations $78.1 million, capital expenditures $24.1 million, insurance recovery $1.9 million and excluding Origio related costs of $7.0 million, free cash flow $62.9 million.

    Third Quarter CooperVision GAAP Operating Highlights
    • Revenue $314.2 million, up 5% from last year's third quarter, 10% in constant currency.

    • Revenue by category:

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
COO
159.67-0.30(-0.19%)Jul 28 4:05 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.