The Cooper Companies Inc. (NYSE:COO) reported net income above Wall Street’s expectations for the third quarter. Cooper Companies develops, manufactures, and markets healthcare products, primarily medical devices through its two business units: CooperVision and CooperSurgical.
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The Cooper Companies Inc. Earnings Cheat Sheet
Results: Net income for The Cooper Companies Inc. rose to $71.7 million ($1.36 per share) vs. $49.1 million (90 cents per share) in the same quarter a year earlier. This marks a rise of 46% from the year-earlier quarter.
Revenue: Rose 7.6% to $378.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Cooper Companies Inc. beat the mean analyst estimate of $1.29 per share. It beat the average revenue estimate of $349.9 million.
Revenue has increased for four consecutive quarters. Revenue increased 5.9% to $344.6 million in the second quarter. The figure rose 11.2% in the first quarter from the year earlier and climbed 15.2% in the fourth quarter of the last fiscal year from the year-ago quarter.
The company topped expectations last quarter after falling short of forecasts in the second quarter with net income of $1.12 versus a mean estimate of net income of $1.20 per share.
Looking Forward: Analysts have a more positive outlook about the company’s results for next quarter. The average estimate for fourth quarter is $1.49 per share, an increase from $1.47 sixty days ago. Over the past sixty days, the average estimate for the fiscal year has reached $5.03 per share, a decline from $5.09.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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