Cooper Cos. misses 3Q net income and revenue expectations

MarketsAssociated Press

Cooper Cos. (COO) on Thursday reported fiscal third-quarter profit of $88.1 million.

The Pleasanton, California-based company said it had profit of $1.80 per share. Earnings, adjusted for non-recurring costs, were $1.90 per share.

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The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.

The surgical and contact lens products maker posted revenue of $432.5 million in the period, which also did not hit Street forecasts. Analysts expected $444.3 million, according to Zacks.

For the current quarter ending in October, Cooper expects its per-share earnings to range from $2 to $2.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.85.

The company said it expects revenue in the range of $477 million to $490 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $460.4 million.

Cooper shares have increased 30 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $160.95, a climb of 21 percent in the last 12 months. They shed 2 percent in extended trading Thursday.