The Cooper Companies COO on Thursday reported its second quarter earnings.
Despite beat in revenue, EPS estimates and raised guidance, the company's shares have dropped about two percent in Friday's pre-market session.
Robert S. Weiss, Cooper's President and CEO commented, "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.
"As we move into the second half of the year, we remain positive on our markets and our ability to continue taking market share."
Highlights from the report include:
Second Quarter Results
- Revenue was up seven percent year-over-year at $412.3 million and beat estimates of $411.43 million
- Non-GAAP EPS was $1.64 above estimates of $1.60
- Gross margin 65 percent
- Operating margin 22 percent
- Cash provided by operations $126.3 million and capital expenditures $61.2 million resulted in free cash flow $65.1 million.
Full Year Guidance
- Revenue guidance reaffirmed for 2014
- GAAP EPS from $6.75 - $7.00 to $6.78 - $7.00
- Non-GAAP $6.75 - $7.00 to $6.80 - $7.00
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