The Cooper Companies Announces Second Quarter 2014 Results

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PLEASANTON, Calif.—The Cooper Companies, Inc. (NYSE:COO) announced financial results for the fiscal second quarter ended April 30, 2014.

Total company revenue increased 7 percent year-over-year to $412.3 million, up 9 percent in constant currency and excluding the divestiture of Aime (The company’s rigid gas permeable contact lens and solutions business in Japan, sold effective Oct. 31, 2013).

The company’s CooperVision (CVI) revenue rose 7 percent to $331.1 million for the period, up 9 percent in constant currency and excluding the divestiture of Aime, while its CooperSurgical (CSI) revenues were reported up 9 percent to $81.2 million for the period.

In the second quarter, CVI reported that its silicone hydrogel business revenue was $161 million, representing 49 percent of CVI revenue, and reflecting a 21 percent year-on-year change, 20 percent at constant exchange rates. For the period, CVI’s Proclear business was $83.6 million, or 25 percent of total CVI revenue for the quarter, reflecting an 8 percent change, year-on-year.

Overall, for the period, CVI’s total $331.1 million revenue rose 7 percent overall, while sales in the Americas increased 4 percent, sales in EMEA rose 14 percent and sales in Asia Pacific grew by 3 percent for the quarter.

Commenting on the results, Robert S. Weiss, Cooper's president and CEO said, "I am proud to report another strong quarter for the company. We continued gaining market share within CVI driven by our silicone hydrogel family of products, especially Biofinity and MyDay. CSI also posted solid revenue growth driven by its fertility business. As we move into the second half of the year, we remain positive on our markets and our ability to continue taking market share."