Cooper Cos. 4Q profit rises 2 percent

AP News
Posted: Dec 08, 2009 5:28 PM

Contact lens and eye care product company Cooper Cos. Inc. said Tuesday its fiscal fourth-quarter profit rose 2 percent on a mix of higher sales and lower tax expenses.

The contact lens maker's fiscal third-quarter earnings rose nearly 23 percent, but the results missed Wall Street expectations. Cooper's shares fell less than 1 percent, or 22 cents, to $33.70 in electronic trading after the market closed Tuesday.

The company earned $30.1 million, or 66 cents per share, compared with a profit of $29.5 million, or 65 cents per share, during a year prior. Its sales rose 6 percent to $283.5 million from $266.8 million.

Cooper's fiscal 2009 fourth quarter ended Oct. 31.

Analysts polled by Thomson Reuters expected Cooper to earn 67 cents per share on revenue of $278.6 million.

The company had slightly higher overall costs during the quarter this year than last, which partially offset some gains. But its tax expenses fell by more than half to $1.9 million.

For the full year, Cooper earned $100.5 million, or $2.21 per share, up from $65.5 million, or $1.43 per share, a year prior. Its revenue rose to $1.08 billion from $1.05 billion.

Shares of Cooper Cos. closed unchanged at $33.92 during the regular trading session.