The Cooper Companies, Inc. (COO) has reported a 47.47 percent jump in profit for the quarter ended Jan. 31, 2017. The company has earned $75.80 million, or $1.53 a share in the quarter, compared with $51.40 million, or $1.05 a share for the same period last year. On an adjusted basis, earnings per share were at $1.93 for the quarter compared with $1.83 in the same period last year.
Revenue during the quarter grew 11.01 percent to $499.10 million from $449.60 million in the previous year period. Gross margin for the quarter expanded 432 basis points over the previous year period to 62.59 percent. Total expenses were 81.83 percent of quarterly revenues, down from 87.23 percent for the same period last year. This has led to an improvement of 541 basis points in operating margin to 18.17 percent.
Operating income for the quarter was $90.70 million, compared with $57.40 million in the previous year period.
Commenting on the results, Robert S. Weiss, Cooper's president and chief executive officer said, "We are very pleased to report a strong first quarter. CooperVision continued gaining market share driven by growth in Biofinity and daily silicone hydrogel products while CooperSurgical continued its growth driven by fertility. Our business fundamentals remain strong and we remain excited about the future."
For financial year 2017, The Cooper Companies, Inc. expects revenue to be in the range of $2,090 million to $2,130 million. It projects diluted earnings per share to be in the range of $9.10 to $9.30 on adjusted basis for the same period.
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