The Cooper Companies Inc. (NYSE:COO) reported its results for the fourth quarter. Cooper Companies develops, manufactures, and markets healthcare products, primarily medical devices through its two business units: CooperVision and CooperSurgical.
Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now
The Cooper Companies Inc. Earnings Cheat Sheet
Results: Net income for The Cooper Companies Inc. rose to $71.9 million ($1.46 per share) vs. $56.6 million ($1.15 per share) in the same quarter a year earlier. This marks a rise of 27% from the year-earlier quarter.
Revenue: Rose 9.8% to $396.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Cooper Companies Inc. reported adjusted net income of $1.47 per share. By that measure, the company fell short of mean estimate of $1.53 per share. It beat the average revenue estimate of $349.9 million.
Quoting Management: Commenting on the results, Robert S. Weiss, Cooper’s president and chief executive officer said, “I am pleased to report record financial results for fiscal 2012 including record revenues at both our business units and record EPS for the Company. We are proud of our many accomplishments throughout the year including CooperVision’s success with its Biofinity(NYSE:R) family of products, the re-launch of Avaira(NYSE:R) Toric and the launch of a single-use silicone lens along with CooperSurgical’s success within the surgical space and its acquisition of Origio. We continued to gain market share, post solid margins and maintain a strong balance sheet. As we enter fiscal 2013, we remain encouraged by our business trends and believe we are well positioned to deliver strong operating results.”
The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 75.4% and in the second quarter, the figure rose 55.3%.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of $1.45 versus a mean estimate of net income of $1.29 per share.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved up from $1.20 a share to $1.24 over the last ninety days. For the fiscal year, the average estimate has moved down from $5.23 a share to $5.22 over the last seven days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories: