The Pleasanton, Calif.-based company reported profits of $103.2 million, or $2.07 per share, on sales of $628.1 million for the three months ended January 31, seeing a swing from red ink on the bottom line while sales grew 6.5% compared with the same period during the previous year.
After adjusting to exclude one-time items, earnings per share were $2.88, well ahead of the $2.50 consensus on Wall Street where analysts expected too see sales of $617.9 million, which the company topped.
Cooper’s CooperVision division reported sales of $470.1 million, up 6% from last year’s first quarter, while its CooperSurgical business reported sales of $158 million, up 9% compared to last year’s first quarter.
“We’re off to a strong start to the year as we continue successfully implementing our strategic objectives such as investing in key partnerships, increasing promotional activity, and investing in the infrastructure of our business. These efforts are all tied to producing strong, sustainable revenue growth and we’re seeing them pay off,” prez & CEO Albert White said in a press release.
The company updated its guidance for the 2019 fiscal year, expecting to see sales of between $2.63 billion and approximately $2.68 billion, with non-GAAP diluted earnings per share of between $11.85 and $12.15.
Shares in the company have risen approximately 1.7% today in after-hours trading, at $295 as of 4:36 p.m. EST.