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The Cooper Companies – COO – Proud to report another strong quarter which included market share gains

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The Cooper Companies, Inc. (NYSE:COO) announced financial results for the fiscal second quarter ended April 30, 2012.

  • Revenue increased 6% year-over-year to $344.6 million. CooperVision (CVI) revenue up 5% to $288.0 million and CooperSurgical (CSI) revenue up 13% to $56.6 million.
  • GAAP earnings per share (EPS) $1.12, up 39 cents or 53% from last year’s second quarter.
  • Free cash flow $60.7 million. Total debt decreased $91.0 million to $319.3 million from prior quarter.

Commenting on the results, Robert S. Weiss, Cooper’s president and chief executive officer said, “I’m proud to report another strong quarter which included market share gains, improving margins, double-digit earnings growth and significant free cash flow generation. Additionally, as announced earlier this week, we have made a tender offer to acquire all of the shares of Origio, which would position CooperSurgical as a global leader in the in-vitro fertilization market. This acquisition, if completed, would continue our long history of adding shareholder value through strategic acquisitions.”

COO Second Quarter GAAP Operating Highlights


  • Revenue $344.6 million, 6% above second quarter 2011, 7% in constant currency.
  • Gross margin 64% compared with 62% in last year’s second quarter. The improvement was the result of savings related to the closure of the Norfolk manufacturing plant completed in the fiscal first quarter of 2011, increased manufacturing efficiencies and favorable product mix.
  • Operating margin 19% in line with last year’s second quarter.
  • Depreciation expense $21.5 million, up 14% from last year’s second quarter. Amortization $5.3 million, up 11% from last year’s second quarter as a result of acquired intangible assets related to recent acquisitions.
  • Interest expense $3.1 million compared with $4.3 million in last year’s second quarter.
  • Total debt decreased $91.0 million from January 31, 2012 to $319.3 million.
  • Cash provided by operations $80.6 million, capital expenditures $23.1 million, insurance recovery $3.2 million resulted in free cash flow of $60.7 million.

About The Cooper Companies – COO

The Cooper Companies, Inc. (COO) is a global medical device company. COO is dedicated to being A Quality of Life Company™ with a focus on delivering shareholder value. Cooper operates through two business units, CooperVision and CooperSurgical. CooperVision brings a refreshing perspective on vision care with a commitment to crafting a wide range of high-quality products for contact lens wearers and providing focused practitioner support. CooperSurgical focuses on supplying women’s health clinicians with market leading products and treatment options to improve the delivery of healthcare to women. Headquartered in Pleasanton, CA, Cooper has over 7,000 employees with products sold in over 100 countries.








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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