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Cooper Drops on Analyst Comments

Shares of Lake Forest-based contact lens and surgical device maker Cooper Cos. fell about 7% Friday after an analyst predicted the company’s second-quarter results may fall short.

Cooper is set to release its earnings on June 6.

The prediction came from Piper Jaffray’s Steven M. Hamill. Another analyst, U.S. Equity Research’s Suey S. Wong, said Cooper recently cut 20% of its contact lens sales force in the U.S., possibly putting the quarter’s guidance in jeopardy, Associated Press reported.

Cooper confirmed Friday it cut 34 workers as part of a restructuring of its sales and marketing operations in the U.S.

The company said it’s been working on a restructuring tied to its $1.2 billion buy of Ocular Sciences Inc. early last year

The company has about 7,000 workers in all.

Cooper also said Friday that the launch of its silicone hydrogel contact lens in the U.S. is on schedule. An initial release of the lens, called Biofinity, is set to begin in the middle of the year.

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