The Cooper Companies, Inc. · NASDAQ:COO
The Cooper Companies — Cooper Companies — Investor Presentation (January 2008)
25 slides from The Cooper Companies's investor presentation, Jan 8, 2008
Slide 1: Investor Presentation
Exhibit 99.1 Investor Presentation
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, including projections of Cooper’s results. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or impre
Slide 3: Company Overview
Company Overview
Slide 4: The Cooper Companies
CooperVision $796M 84% CooperSurgical $155M 16% The Cooper Companies The Cooper Companies Global medical products company Develops, manufactures and markets specialty healthcare products through its subsidiaries: CooperVision (CVI) and CooperSurgical (CSI) Headquartered in Pleasanton, CA Total Emplo
Slide 5: Recent Events
The Cooper Companies The Cooper Companies Bob Weiss named CEO, effective November 1, 2007 CooperVision Manufacturing capacity expanded Gen II conversion materially completed in 2007 Distribution center consolidation Consolidated 21 warehouses in Europe and the US to three distribution centers New pr
Slide 6: The Cooper Companies: FY 2007 and Q4 results
CVI $698M CVI $734M CVI $796M CVI $898M CVI $183M CVI $212M The Cooper Companies FY 2007 Sales: $951M, up 11% CVI up 8% CSI up 24% (9% organic) Non-GAAP EPS*: $2.12 Q4 FY 2007 Sales: $254M, up 17% YoY CVI up 16% CSI up 25% (9% organic) Non-GAAP EPS*: $0.53 Shares outstanding (diluted): 47.7M ** 2008
Slide 7: FY 2008 Guidance
Note: Sales & CapEx in millions; Per share amounts refer to diluted shares. * YoY Change from FY07 to FY08 uses the midpoint of the guidance range and assumes no acquisitions. ** Excludes non-recurring and other unusual items, but includes share-based compensation expense of $0.28 in FY07 and $0.35
Slide 8: Long Term Objectives
The Cooper Companies The Cooper Companies Consistent double-digit organic revenue growth Gross margin in the low/mid 60’s Operating margin in the low/mid 20’s (post share-based compensation) CooperVision Grow at a rate of at least 1.5x global market Become the #2 global contact lens company CooperSu
Slide 9: CooperVision
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Slide 10: CooperVision
$698M $734M $796M $875M $183M $212M CooperVision Develops, manufactures and markets a broad range of contact lenses for the global market Employees: 7,000 Manufacturing: 4,200 Distribution & Packaging: 1,202 Sales & Marketing: 811 Other: 787 FY 2007 Sales: $796M, up 8% Outpaced est. market growth of
Slide 11: CooperVision Sales by Category
Spherical (Single Use) $114M 14% Spherical (Reusable) $334M 43% CooperVision Proclear - all day comfort FY07 sales of $186M, up 33% Q407 sales of $52M, up 43% YoY Single-use spheres FY07 sales of $114M, up 29% Q407 sales of $33M, up 34% YoY Multifocal FY07 sales of $46M, up 21% Q407 sales of $12M, u
Slide 12: CooperVision Sales by Region
Americas $357M 45% Europe $309M 39% CooperVision Soft lens sales growth by region FY 2007 versus FY 2006 Asia Pacific: 21% to $130M Europe: 13% to $309M Americas: 2% to $357M 4Q FY 2007 versus Q4 FY 2006 Asia Pacific: 17% to $33M Europe: 15% to $81M Americas: 14% to $97M Direct sales office expansio
Slide 13: Competitive Dynamics
Cooper 16% CIBA 25% JNJ 39% United States #1 J&J #2 Cooper #3 Ciba #4 B&L Europe #1 Ciba #2 Cooper #3 J&J #4 B&L Asia/Pac #1 J&J #2 B&L #3 Ciba #4 Cooper Source: Independent Market Research Data / Management estimates B&L 16% Other 4% Global Market Statistics Global Soft Contact Lens Market By Compe
Slide 14: Global Market Statistics: Modality Breakdown
Global Market Statistics EMEA Asia-Pac 15% Monthly: 28% 2-Week: 57% Daily: 50% Monthly: 12% 2-Week: 38% Daily: Global 27% Monthly: 39% 2-Week: 34% Daily: Source: Management estimates Modality Breakdown Americas 25% Monthly: 65% 2-Week: 10% Daily:
Slide 15: Soft Lens Sales 5-Year Trend by Product
Spherical (Reusable) $2,082 44% Spherical (Single Use) $1,459 31% Spherical (Reusable) $2,555 38% Spherical (Single Use) $2,505 37% Global Market Statistics $ in millions * Specialty lenses include toric, cosmetic and multifocal lenses. Source: Company reported data and independent market research 8
Slide 16: Soft Lens Sales 5-Year Trend by Region
Americas $1,964 42% Asia/Pacific $1,440 30% Americas $2,665 39% Asia/Pacific $2,555 38% Global Market Statistics * Europe includes Mideast and Africa Source: Company reported data and independent market research 3% 12% 6% $4,732 $6,778 CAGR CY 2006 to CY 2011 Europe* $1,328 28% Europe* $1,559 23% 0%
Slide 17: CooperSurgical
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Slide 18: CooperSurgical
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Slide 19: CooperSurgical
$109M $125M $155M $165M $33M $42M Leader in the fragmented US medical device segment of women’s health Estimated 9% share of $1.6B market* Leader of in-office Ob-Gyn products Employees: 558 Manufacturing: 314 Sales & Marketing: 156 Other: 88 FY 2007 Sales of $155M, up 24%; 9% organic Q4 2007 Highlig
Slide 20: CooperSurgical: Leader in Women's Health Devices
Hospital 27% Office 67% Office Competitors Market Share IVF Competitors Market Share Hospital/OR Competitors Market Share CooperSurgical CooperSurgical has evolved into a clear leader in the medical device segment of women’s health care due to 4 key factors: Extensive customer base Strong brand awar
Slide 21: CooperSurgical: Acquisition Track Record
CooperSurgical Proven track record of execution & integration Completed 23 acquisitions in the past 10 years Strong focus on increasing margins through management expertise and superior manufacturing/distribution capabilities Representative acquisitions: $7M $38M Trocar closure systems and pelvic fl
Slide 22: Summary
In Summary
Slide 23: Investment Considerations
The Cooper Companies Two solid franchises with double-digit top line growth potential Significant opportunity to leverage sales growth in coming years Robust pipeline ideally positioned to capture market growth Strong focus on the high growth Asia/Pac contact lens market Women’s healthcare franchise
Slide 24: Questions?
QUESTIONS?
Slide 25: Primary Contacts
Robert S. Weiss Chief Executive Officer Steven M. Neil Executive Vice President and Chief Financial Officer Albert G. White III Vice President, Investor Relations & Treasurer 6140 Stoneridge Mall Road, Ste 590 Pleasanton, CA 94588 Tel: 925-460-3663 Fax: 925-460-3649 awhite@cooperco.com The Cooper Co
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