The Cooper Companies Rises on Q3 Earnings Results
Shares of The Cooper Companies (NYSE: COO) are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 2.76%, trading at $77.35; they ended the regular session lower by 0.09%, at $75.27.
The Cooper Companies reported Q3 non-GAAP EPS of $1.15 on revenues of $351.4 million. Revenues increased 19% year over year, while EPS increased 26.4% year over year. Total debt decreased $108.0 million to $445.2 million.
Commenting on the results, Robert S. Weiss, Cooper's president and chief executive officer said, "I am pleased to report another strong quarter for the Company. We gained market share within CVI, posted solid margins in CVI and CSI, generated strong EPS, delivered improving free cash flow and significantly paid down debt. We are very encouraged by our business trends and believe we are well positioned to deliver strong operating results for the remainder of fiscal 2011."
The Cooper Companies, Inc. is a global medical products company that serves the specialty healthcare market through its two business units, CooperVision, Inc. and CooperSurgical, Inc. CVI develops, manufactures and markets a range of contact lenses for the global vision correction market.
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