Cooper Cos. 4Q net income climbs 27 percent
Cooper Cos. 4th-quarter income rises 27 percent, 2013 outlook matches Wall Street views
PLEASANTON, Calif. (AP) -- Contact lens and surgical tools maker Cooper Cos. said Thursday that its net income grew 27 percent in its fiscal fourth quarter.
Eye-care product revenue grew 5 percent and surgical product revenue rose 37 percent in the quarter ended Oct. 31. The company also issued fiscal 2013 guidance that was close to Wall Street estimates.
Net income increased to $71.9 million, or $1.46 per share, from $56.6 million, or $1.15 per share. Excluding one-time items, earnings were $1.47 a share.
Revenue rose 10 percent, to $396.3 million. Eye care revenue rose to $318.1 million and surgical revenue grew to $78.2 million.
Analysts expected net income of $1.55 per share and $397.7 million in total revenue, according to FactSet.
For the full year net income climbed 42 percent, to $248.3 million, or $5.05 per share. Revenue increased by 9 percent, to $1.45 billion.
In fiscal 2013 Cooper expects to earn $5.70 to $6 per share. The company is forecasting $1.57 billion to $1.63 billion in revenue, including $1.25 billion to $1.29 billion from CooperVision and $315 million to $335 million from CooperSurgical.
Analysts projecting net income of $5.84 per share and $1.6 billion in revenue on average.
Cooper Cos. Shares rose 28 cents to close at $93.85.
