The Cooper Companies, Inc. · NASDAQ:COO
The Cooper Companies — Investor Presentation (March 2009)
24 slides from The Cooper Companies's investor presentation, Mar 23, 2009
Slide 1: Investor Presentation
Investor Presentation 3/23/09
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
The Goper Company Overview
Slide 4: The Cooper Companies Company Overview
The Cooper Companies Company Overview The Cooper Companies Global medical products company − Develops, manufactures and markets specialty healthcare products through its subsidiaries: CooperVision (CVI) and CooperSurgical (CSI) − HQ Pleasanton, CA − ~7,500 total employees in more than 54 countries C
Slide 5: The Cooper Companies Financial Overview
The Cooper Companies Financial Overview Annual Annual Sales Sales FY 2008 CSI Sales: $1,047M, up 11% CSI $168M $170M CSI − CVI up 11% CSI $125M $155M − CSI up 9% GAAP EPS: $1.43 CVI CVI CVI $879M $895M CVI $790M Non-GAAP EPS#: $2.26 $734M Q1 FY 2009 2006 2007 2008 2009E* * 2009E represents midpoint
Slide 6: The Cooper Companies Guidance
The Cooper Companies Guidance $ in millions, except EPS and percentages FY09 Guidance* CVI $865 - $925 Sales CSI $165 - $175 TOTAL $1,030 - $1,100 EPS GAAP $2.16 - $2.36 Gross Margin ~58% Other Operating Margin ~16% CapEx $125 - $140 Effective Tax Rate 14%-16% Note: Per share amounts refer to dilute
Slide 7: New CVI Products
The Cooper Companies New CVI Products 2009/2008 New Product Introductions/Updates 3/09 Biofinity® Toric – Launched in U.S. and Europe 2/09 Proclear® 1 Day – Launched in Japan 1/09 Avaira™ – Expanded parameters 1/09 Proclear Toric XR – Expanded parameters 12/08 Proclear 1 Day – Received regulatory ap
Slide 8: Long Term Objectives
The Cooper Companies Long Term Objectives The Cooper Companies Revenue growth exceeding the market Maintain/expand gross margin Operating margin in the upper-teens Grow EPS faster than revenues Strong focus on free cash flow generation and debt reduction Improving ROIC Complete accretive acquisition
Slide 9: CooperVision
Goper Vision=’
Slide 10: CooperVision Company Overview
CooperVision Company Overview CVI CVI Annual Annual Sales Sales FY 2008 Sales: $879M, up 11% Completed CVI / Ocular integration Developed adequate capacity for PC 1 Day, $879M $895M Avaira, and Biofinity $734M $790M Q1 FY 2009 2006 2007 2008 2009E* Sales: $211M, up 4% YoY (4% cc) * 2009E represents
Slide 11: CooperVision Sales by Category
CooperVision Sales by Category Revenue by Segment – 1Q FY2009 CVI CVI Global Global Soft Soft Lens Lens Sales Sales By By Segment, Segment, 1Q 1Q FY2009 FY2009 Toric $63M, down 11% YoY (-4% cc) Multifocal Toric $63M 30% $14M, up 9% YoY (18% cc) Multifocal $14M 7% Single-use sphere $43M, up 23% YoY (
Slide 12: CooperVision Sales by Region
CooperVision Sales by Region Revenue by Geography – 1Q FY2009 CVI CVI Global Global Soft Soft Lens Lens Sales Sales By By Region, Region, 1Q 1Q FY2009 FY2009 Americas − $86M, down 1% YoY (1% cc) Europe − $82M, up 2% YoY (6% cc) Americas $86M Asia-Pacific 41% − $43M, up 18% YoY (9% cc) Asia-Pacific $
Slide 13: Global Market Statistics Competitive Dynamics
Global Market Statistics Competitive Dynamics United States Global Global Soft Soft Contact Contact Lens Lens Market Market #1 J&J By By Competitor, Competitor, Q4 Q4 2008 2008 #2 Cooper #3 Ciba Other 4% #4 B&L B&L Europe 14% #1 Ciba Cooper #2 Cooper 16% #3 J&J JNJ #4 B&L 44% Asia/Pac CIBA #1 J&J 22
Slide 14: Global Market Statistics Modality Breakdown
Global Market Statistics Modality Breakdown Americas Americas EMEA EMEA Asia-Pac Asia-Pac Daily: 10% Daily: 38% Daily: 57% 2-Week: 65% 2-Week: 12% 2-Week: 28% Monthly: 25% Monthly: 50% Monthly: 15% Global Global Daily: 34% 2-Week: 39% Monthly: 27% Source: Management estimates 14
Slide 15: Global Market Statistics SCL Manufacturer's Sales CAGR by Product
Global Market Statistics SCL Manufacturer’s Sales Estimated Estimated 5-Year 5-Year Sales Sales Trend Trend CAGR CAGR By By Product Product CY CY2008 2008to toCY CY2013E 2013E $ in millions $5,710 $7,640 6% (Market) Toric & MF Toric & MF 100% $1,590 6% $1,207 90% 21% 21% 80% Single-use Single-use 70
Slide 16: Global Market Statistics SCL Manufacturer's Sales CAGR by Region
Global Market Statistics SCL Manufacturer’s Sales Estimated Estimated 5-Year 5-Year Sales Sales Trend Trend CAGR CAGR By By Region Region CY CY2008 2008to toCY CY2013E 2013E $ in millions $5,710 $7,640 6% (Market) 100% Europe* Europe* 6% 90% $1,797 $2,404 32% 32% 80% 70% Asia/Pacific Asia/Pacific 6%
Slide 17: oO
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Slide 18: CooperSurgical Company Overview
CooperSurgical Company Overview CSI CSI Annual Annual Sales Sales FY 2008 Sales: $168M, up 9%, (6% organic) 19 core product categories with over 600 products $168M $170M $155M $125M Q1 FY 2009 Sales: $40M, up 1% YoY (all organic) 2006 2007 2008 2009E* Success of hospital / OR strategy * 2009E repres
Slide 19: CooperSurgical Diversified Product Lines
CooperSurgical Diversified Product Lines CooperSurgical has evolved into a clear leader in the fragmented medical device segment of women’s healthcare due to 4 key factors: * Extensive customer base * Strong brand awareness * Depth and breadth of product offerings * Market focus CSI CSI Sales Sales
Slide 20: CooperSurgical Acquisitions
CooperSurgical Acquisitions Proven track record of execution & integration Completed 23 acquisitions in the past 10 years Top line growth every year since 1996 Strong focus on increasing margins through management expertise and superior manufacturing/distribution capabilities Recent acquisitions: Tr
Slide 21: In Summary
oO OOPer In Summary Companies
Slide 22: Key Takeaways
The Cooper Companies 5 Key Takeaways Strong fiscal 2008, fiscal Q1 2009 Well positioned to leverage growth Proactively managing through global economic crisis Maximizing FCF Recession resistant market (SCL) 22
Slide 23: Questions?
oO OOPeCL QUESTIONS? Companies
Slide 24: Contact Info
The Cooper Companies Contact Info Contacts: Corporate Headquarters: Robert S. Weiss 6140 Stoneridge Mall Road, Ste 590 President and Chief Executive Officer Pleasanton, CA 94588 Eugene J. Midlock www.coopercos.com Senior Vice President and Chief Financial Officer www.coopervision.com www.coopersurgi
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