Cooper Cos.: Fiscal 3Q Earnings Snapshot
Aug. 30, 2018
PLEASANTON, Calif. (AP) _ The Cooper Cos. (COO) on Thursday reported fiscal third-quarter net income of $100.8 million.
The Pleasanton, California-based company said it had net income of $2.03 per share. Earnings, adjusted for one-time gains and costs, were $3 per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.08 per share.
The surgical and contact lens products maker posted revenue of $660 million in the period, which topped Street forecasts. Ten analysts surveyed by Zacks expected $653.4 million.
For the current quarter ending in October, Cooper Cos. expects its per-share earnings to range from $2.90 to $3. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.08.
The company said it expects revenue in the range of $634 million to $649 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $655.3 million.
Cooper Cos. expects full-year earnings in the range of $11.55 to $11.65 per share, with revenue ranging from $2.52 billion to $2.53 billion.
Cooper Cos. shares have increased 21 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $263.76, a rise of 7 percent in the last 12 months.