Tuesday, Cooper Companies Inc. (COO) reported fourth-quarter net income of $30.1 million or $0.66 per share, compared to $29.5 million or $0.65 per share in the same quarter last year.
On a non-GAAP basis, net income was $0.67 per share. Non-GAAP earnings excludes $0.9 million, or 1 cent per share, for the 2009 CooperVision manufacturing restructuring plan announced in August 2009.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.67 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased to $283.5 million from $266.8 million in the comparable quarter last year. Analysts expected the company to report revenue of $278.58 million for the quarter.
Looking ahead to the full year 2010, the company expects net revenue in the range of $1.10 billion - $1.16 billion with earnings in the range of $2.17 - $2.27 per share. On a non-GAAP basis, net income is expected to be in the range of $2.45 - $2.55 per share. Analysts currently anticipate the company to earn $2.45 per share on revenue of $1.13 million for the full year.
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