Cooper Companies, the parent company of contact lens maker Cooper Vision, has reported revenue growth of 12 per cent to $251.9m for the third quarter of 2007.
The CooperVision division recorded revenue of $212m, up 9 per cent from the previous year. The company doubled the production rate of its spherical silicone hydrogel contact lens Biofinity which generated global revenue of $2.8m during the assessed period - twice its revenue in the second quarter, with sales primarily generated in Europe.
Looking ahead to 2008, the company said that it would roll out Proclear 1 Day in Europe in the first fiscal quarter and launch an improved silicone hydrogel lens with a two-week wearing cycle in Europe and the US in the second half of the year.
There are also plans to introduce a silicone hydrogel toric lens in late 2008.
The results also noted losses and costs associated with phasing out corneal health products and the write-off of associated unrealisable net assets. Several law suits for patent infringements were also filed to protect intellectual property.