Cooper Companies Comments On Contact Lens Revenue; Reiterates Guidance for Fiscal Year 2001.Business Editors & Health/Medical Writers LAKE FOREST, Calif.--(BW HealthWire)--July 20, 2001 In response to investors' inquiries, the Cooper Companies, Inc., (NYSE NYSE See: New York Stock Exchange :COO) said today that worldwide revenue for the second calendar quarter in its CooperVision contact lens contact lens, thin plastic lens worn between the eye and eyelid that may be used instead of eyeglasses. Actors, models, and others wear them for appearance, and athletes use them for safety and convenience. unit rose 20 percent compared with the second calendar quarter of 2000. Revenue in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. grew 12 percent while revenue outside the United States grew 36 percent. CooperVision is a leading manufacturer of specialty contact lenses contact lenses contact npl → verres mpl de contact contact lenses contact npl → Kontaktlinsen pl contact lenses npl , especially toric tor·ic adj. Of, relating to, or shaped like a torus or part of a torus. lenses for astigmatism astigmatism (əstĭg`mətĭz'əm), type of faulty vision caused by a nonuniform curvature in the refractive surfaces—usually the cornea, less frequently the lens—of the eye. and cosmetic contact lenses that change the appearance of the color of the eye. Consistent with contact lens market dynamics over the past several years, the specialty category continues to show stronger growth than the commodity spherical lens spherical lens n. Abbr. sph A lens in which all refracting surfaces are spherical. category, which remains sluggish. Cooper said that it continues to be comfortable with the revenue and earnings guidance given in its fiscal second quarter earnings release, expecting revenue to grow 15 to 18 percent over fiscal year 2000 with earnings per share in the range of $2.38 to $2.42. For its third fiscal quarter, Cooper remains comfortable with analysts' consensus estimates of revenue and earnings per share. Cooper will release its earnings for the fiscal quarter ending July 31 on August 29. Forward-Looking Statements Some of the information included in this news release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements include all statements regarding anticipated growth in our revenue, anticipated market conditions and results of operations. To identify forward-looking statements look for words like "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Discussions of strategy, plans or intentions often contain forward-looking statements. These, and all forward-looking statements, necessarily depend on assumptions, data or methods that may be incorrect or imprecise. Events, among others, that could cause actual results and future actions to differ materially from those described in forward-looking statements include major changes in business conditions, a major disruption in the operations of our manufacturing facilities, new competitors or technologies, the impact of an undetected virus on our computer systems, acquisition integration delays or costs, foreign currency exchange exposure, investments in research and development and other start-up projects, dilution to earnings per share from acquisitions or issuing stock, regulatory issues, significant environmental cleanup costs above those already accrued, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. costs including any related settlements, cost of business divestitures, the requirement to provide for a significant liability or to write off a significant asset, changes in accounting principles or estimates, and other factors described in our Securities and Exchange Commission filings, including the "Business" section in our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended October 31, 2000. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law. The Cooper Companies, Inc. and its subsidiaries develop, manufacture and market specialty healthcare products. Corporate offices are located in Lake Forest and Pleasanton, Calif. A toll free interactive telephone system at 1-800-334-1986 provides stock quotes, recent press releases and financial data. The Cooper Companies' World Wide Web address is www.coopercos.com. |
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