The Cooper Companies Report Q4 and Year-End Sales Gains

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PLEASANTON, Calif.—The Cooper Companies, Inc. (NYSE:COO) announced financial results for the fiscal fourth quarter and full year ended Oct. 31, 2013.

Overall fourth quarter revenue increased 4 percent year-over-year to $411.9 million. Net income was $57.4 million. The group’s overall fiscal 2013 revenue rose 10 percent to $1,587.7 million. Net income was $296 million.

Commenting on the results, Robert S. Weiss, Cooper's president and CEO said, "I am pleased to report record financial results for fiscal 2013 including record revenues at both of our business units and record EPS for the company. We are proud of our many accomplishments throughout the year including CooperVision's success with its Biofinity family of products and launch of MyDay along with CooperSurgical's success with its fertility franchise. As we enter fiscal 2014, we remain encouraged by our business trends and believe we are well positioned to deliver strong operating results."

For the fourth quarter, CooperVision (CVI)’s revenues were $327.1 million, up 3 percent from the prior year comparable period. CVI revenue for the 12-month fiscal year was $1,268.3 million, up 7 percent from fiscal 2012.

For Q4, the company reported that the Americas accounted for $141 million, or 43 percent of CVI’s total revenues for the quarter. Also for that period, silicone hydrogel revenue for the total CVI group accounted for $146.9 million, or 45 percent of the total, while CVI’s Proclear revenues for the fourth quarter were $81.6 million, or 25 percent of the total CVI revenues.

As previously announced on Nov. 7, 2013, Cooper completed the sale of Aime, its rigid gas permeable contact lens and solutions business in Japan, to Nippon Contact Lens Inc., effective Oct. 31, 2013.

Cooper Surgical’s full-year revenue was $319.4 million, up 25 percent from fiscal 2012, or 3 percent, excluding acquisitions.