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Cooper Cos. sees 3% YOY increase in fiscal Q3 revenue; FY'19 outlook updated

Cooper Cos. Inc. said its non-GAAP EPS for the third fiscal quarter ended July 31 was $3.23, up from the S&P Global Market Intelligence consensus normalized EPS estimate of $3.18.

Pleasanton, Calif.-based Cooper Cos.' non-GAAP EPS saw an increase of 7.8% from $3 in the year-ago period.

The medical device company's net sales totaled $679.4 million in the quarter, reflecting an annual increase of 3% from $660 million.

Net income attributable to the company's stockholders rose year over year to $120.1 million, or $2.40 per share, from $100.8 million, or $2.03 per share, a year earlier.

The company expects total revenue for the fourth fiscal quarter ending Oct. 31 to be in the range of $674 million to $694 million. Non-GAAP EPS for the period is expected to be between $3.22 and $3.30, compared to the S&P Global Market Intelligence consensus normalized EPS estimate of $3.28.

Cooper Cos. updated its fiscal 2019 guidance for non-GAAP EPS to a range of $12.27 to $12.35 compared to prior expectations of $12.15 to $12.35. Revenue for the year is now expected to range between $2.64 billion and $2.66 billion versus the previously anticipated $2.63 billion and $2.67 billion.

The S&P Global Market Intelligence consensus normalized EPS estimate for the fiscal year 2019 is $12.28.