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Cooper Cos. books YOY increase in fiscal Q2 net income

Medical device company The Cooper Cos. Inc. said its non-GAAP EPS for the second fiscal quarter ended April 30 was $2.94, up from the S&P Global Market Intelligence consensus normalized EPS estimate of $2.77.

The Pleasanton, Calif.-based company's EPS saw a 2.6% increase from $2.86 in the year-ago period.

The company's net sales totaled $654.3 million in the quarter, reflecting an annual increase of 4% from $631.3 million.

Net income rose 101.0% on an annual basis to $122.4 million, or $2.45 per share, from $60.9 million, or $1.23 per share, a year earlier.

Cooper Cos. raised its fiscal 2019 guidance for non-GAAP EPS to between $12.15 and $12.35 from prior expectations of $11.85 to $12.15. The company's revenue for the year is expected to range between $2.63 billion and $2.67 billion.

The S&P Global Market Intelligence consensus normalized EPS estimate for the fiscal year 2019 is $11.99.