UPDATE: Cooper Cos Posts Downbeat FQ4 Profit
Cooper Cos (NYSE: COO) reported a 27% rise in its net income for the fiscal fourth quarter.
Cooper Cos' quarterly net income surged to $71.9 million, or $1.46 per share, versus $56.6 million, or $1.15 per share, in the year-ago period. Excluding one-time items, it earned $1.47 per share.
Its revenue climbed 10% to $396.3 million. However, analysts were expecting net income of $1.55 per share on revenue of $397.7 million.
In fiscal 2013, Cooper Cos projects earnings of $5.70 to $6 per share on revenue of $1.57 billion to $1.63 billion. However, analysts were expecting net income of $5.84 per share on revenue of $1.6 billion.
Cooper Cos shares closed at $93.85 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.