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Cooper Cos. beats 1Q profit forecasts

PLEASANTON, Calif. (AP) _ The Cooper Cos. (COO) on Thursday reported fiscal first-quarter profit of $75.8 million.

On a per-share basis, the Pleasanton, California-based company said it had net income of $1.53. Earnings, adjusted for non-recurring costs, came to $1.93 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.

The surgical and contact lens products maker posted revenue of $499.1 million in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $502.7 million.

Cooper Cos. expects full-year earnings in the range of $9.10 to $9.30 per share, with revenue in the range of $2.09 billion to $2.13 billion.

Cooper Cos. shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $201.14, a rise of 40 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COO at https://www.zacks.com/ap/COO


Keywords: Cooper Cos., Earnings Report