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Cooper Companies Reports Mixed Q2 Results; Lifts Earnings Outlook

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Cooper Companies Reports Mixed Q2 Results; Lifts Earnings Outlook

Cooper Companies (NYSE: COO) released its fiscal second-quarter earnings results on Thursday after the closing bell.

The company reported earnings per share that were ahead of Wall Street consensus, but revenue that came in below analysts' expectations. In late trading, the stock was last up a little less than 3 percent to $116.00.

For the second-quarter, Cooper Companies reported net income of $75.1 million or $1.52 per share, versus $54.9 million or $1.12 per share, in last year's corresponding quarter. On an adjusted basis, EPS was $1.50. This came in well ahead of consensus estimates calling for a profit of $1.38 per share.

Net revenue in the quarter rose 11 percent to $384.04 million from $344.59 million last year. This missed Street consensus revenue estimates of $389.14 million.

Looking ahead to fiscal 2013, the company raised its earnings outlook, but lowered the top-end of its revenue range. Cooper Companies now sees adjusted EPS of $6.15 to $6.25 on revenue of $1.575 billion to $1.605 billion.

This compares to the company's previous guidance calling for adjusted EPS of $5.95 to $6.10 on revenue of $1.575 billion to $1.625 billion. Currently, analysts have consensus EPS estimates of $6.05 per share on revenue of $1.61 billion for the fiscal year.

 

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