Cooper reports strong CL growth

Cooper Companies has reported a marginal increase in net income of $21.9m for the third quarter of 2009, compared with $17.9m, a year ago, with its CooperVision division posting 'strong' sales growth during the assessed period.

Revenue for the third quarter of the 2009 fiscal year increased by 2 per cent year-on-year to $285.2m. Earnings per share also rose to 48 cents, up 9 cents, or up 23 per cent from last year's third quarter.

Commenting on the results, Cooper Companies' president and chief executive officer, Robert S Weiss, explained that although the quarterly earnings were lower than expected, the company had generated strong cash flow and was expected to have $100m of free cash flow for the fiscal year.