CooperCompanies Announces Fourth Quarter and Full Year 2022 Results

About this update from The Cooper Companies, Inc.

[{"type":"text","content":"SAN RAMON, Calif., Dec. 08, 2022 (GLOBE NEWSWIRE) -- CooperCompanies (NYSE: COO) today announced financial results for its fiscal fourth quarter and full year ended October 31, 2022. Fourth quarter revenue increased 12% year-over-year to $848.1 million. Fiscal 2022 revenue increased 13% to $3,308.4 million.Fourth quarter GAAP diluted earnings per share (EPS) of $1.32, down 89 cents or 40% from last year's fourth quarter. Fiscal 2022 GAAP diluted EPS of $7.76, down 87% from fiscal 2021.Fourth quarter Non-GAAP diluted EPS of $2.75, down 53 cents or 16% from last year's fourth quarter. Fiscal 2022 non-GAAP diluted EPS of $12.42, down 6% from fiscal 2021. 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 driven by share gains in contact lenses and fertility. As we enter fiscal 2023, we remain focused on delivering market share gains and long-term shareholder value.\" Fourth Quarter Operating Results Revenue of $848.1 million, up 12% from last year’s fourth quarter, up 21% in constant currency, up 12% organically.Gross margin of 63% compared with 66% in last year’s fourth quarter. On a non-GAAP basis, gross margin was 65%, down from 67% last year driven primarily by currency.Operating margin of 12% compared with 17% in last year’s fourth quarter. On a non-GAAP basis, operating margin was 22%, down from 25% last year driven primarily by currency.Interest expense of $22.9 million compared with $5.0 million in last year's fourth quarter driven by a higher average debt balance and higher interest rates.Net debt outstanding at quarter end was $2.6 billion (total debt excluding unamortized debt issuance costs less cash and cash equivalents) down $30.8 million from last quarter.Cash provided by operations of $130.7 million offset by capital expenditures of $94.9 million resulted in free cash flow of $35.8 million. Fourth Quarter CooperVision (CVI) Revenue Revenue of $561.8 million, down 1% from last year’s fourth quarter, up 10% in constant currency, up 11% organically.Revenue by category: Constant Currency Organic (In millions) %chg %chg %chg 4Q22 y/y y/y y/y Toric$ 183.8 1% 11% 11% Multifocal 64.6 5% 16% 16% Single-use sphere 169.7 2% 15% 15% Non single-use sphere, other 143.7 (8)% —% 3% To...

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