Cooper Cos., a contact lens and women’s surgical company that is moving its corporate office from Lake Forest to Pleasanton, reported lower quarterly earnings Thursday and cut its profit outlook for the year.
Cooper earned $8.2 million in the quarter ended July 31. Sales were up 12% to $251.9 million.
Analysts expected the company to earn $31.3 million on sales of $244.9 million.
Cooper, in a release, said its earnings were affected by $27.8 million in charges related to compensation, acquisition, production and other costs.
The company also gave guidance for 2007.
Cooper said it now expects profits of $22.3 million to $44.8 million, down from a prior forecast of $69.4 million to $85.1 million.
The lowered forecast “relates to higher net costs than originally planned in items not related to its core operating performance,” Cooper said.
Cooper projected sales of $940 million to $967 million, up from a previous estimate of $927 million to $967 million.
Wall Street expects Cooper to make $105.2 million on revenue of $932 million.
