CooperCompanies Announces Fourth Quarter and Full Year 2021 Results

About this update from The Cooper Companies, Inc.

[{"type":"text","content":" SAN RAMON, Calif., Dec. 02, 2021 (GLOBE NEWSWIRE) -- CooperCompanies (NYSE: COO) today announced financial results for its fiscal fourth quarter and full year ended October 31, 2021. Fourth quarter revenue increased 11% year-over-year to $759.1 million. Fiscal 2021 revenue increased 20% to $2,922.5 million.Fourth quarter GAAP diluted earnings per share (EPS) $2.21, up 57 cents or 35% from last year's fourth quarter. Fiscal 2021 GAAP diluted EPS $59.16, up 1,131% from fiscal 2020.Fourth quarter Non-GAAP diluted EPS $3.28, up 12 cents or 4% from last year's fourth quarter. Fiscal 2021 non-GAAP diluted EPS $13.24, up 37% from fiscal 2020. See \"Reconciliation of Selected GAAP Results to Non-GAAP Results\" below. Commenting on the results, Al White, Cooper's President and CEO said, \"We closed this fiscal year with record annual revenue, profits and cash flow. We continued taking market share globally in both contact lenses and fertility, and delivered on our strategic objectives including investing and growing our myopia management franchise. As we enter 2022, we have momentum and are well positioned to continue executing on our growth strategies across both businesses.\" Fourth Quarter Operating Results Revenue $759.1 million, up 11% from last year’s fourth quarter, up 11% in constant currency.Gross margin 66% compared with 62% in last year’s fourth quarter. On a non-GAAP basis, gross margin was 67%, down from 68% last year driven primarily by currency.Operating margin 17% compared with 15% in last year’s fourth quarter. On a non-GAAP basis, operating margin was 25%, down from 27% last year driven primarily by investment activity.Interest expense $5.0 million compared with $6.7 million in last year's fourth quarter driven by lower average debt levels.Cash provided by operations $174.5 million offset by capital expenditures $65.0 million resulted in free cash flow of $109.5 million.Net debt outstanding at quarter end was $1,383.1 million (total debt of $1,479.0 million less quarter-end cash and cash equivalents of $95.9 million). Adjusted leverage ratio (net debt over adjusted EBITDA) of 1.4x. Fourth Quarter CooperVision (CVI) Revenue Revenue $564.8 million, up 12% from last year’s fourth quarter, up 11% in constant currency.Revenue by category: Constant Currency (In millions) % of CVI Revenue %chg %chg 4Q21 4Q21 y/y y/y Toric$181...

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