Cooper Cos., an embattled Lake Forest maker of contact lenses and medical devices, reported disappointing quarterly sales and profits and warned about its results for the rest of this year and next.
Cooper posted a profit of $21 million for the quarter ended July 31, down 44% from a year earlier.
Sales were up 1% to $225.8 million.
Restructuring, acquisition and litigation costs totaling $15.9 million hurt quarterly profits, Cooper said.
Analysts had expected Cooper to make $33.3 million on sales of $227 million.
Cooper also revised its forecast for the rest of the year.
The device maker said it now expects to make $69 million to $110 million, down from a prior forecast of $82 million to $130 million.
Sales could come in at $878 million to $900 million, down from an earlier view of $878 million to $911 million.
The company’s shares were off slightly in afterhours trading.
