Revenue rises but so do costs

While CooperVision's first-quarter revenue rose 4 per cent to $260.3m, profit fell by 14 per cent as administrative and other costs outstripped the revenue boost.

The company earned $20.4m compared with profit of $23.9m in the first quarter of 2009. However, it spent $2.3m on manufacturing restructuring in its contact lens business.

Commenting on the results, president and chief executive officer Robert S Weiss said: 'Within CooperVision, our products continue to gain traction - especially with our silicone hydrogel (SiH) family of products.' SiHs rose 151 per cent on a like for like basis.