Lake Forest-based Cooper Cos. said its profit jumped in the quarter ended July 31, assisted by a big acquisition and stronger sales of its disposable contact lenses and lenses for patients with dry eyes.
Cooper posted a profit of $56.9 million in the quarter before onetime acquisition and restructuring charges. Including the charges, Cooper’s profit was $37.4 million, up 55% from $24 million a year ago.
Analysts expected Cooper, which makes contact lenses and medical devices, to earn $37.5 million in the quarter.
Cooper’s quarterly revenue was up 72% to $222 million, versus a year ago. The company’s CooperVision unit saw revenue rise 90% to $195.1 million, and said its Proclear lens line, which fights dry eyes, sold particularly well.
The company’s results were aided by its $1.2 billion acquisition of Ocular Sciences Inc. earlier this year.
For the current quarter, Cooper said it expects to earn $42.3 million to $43.7 million on sales of $238 million to $242 million.
