October 25, 2016 5:54 PM ET

Healthcare Equipment and Supplies

Company Overview of CooperVision, Inc.

Company Overview

CooperVision, Inc. designs and manufactures contact lenses and related products/services. It offers daily replacement, silicone hydrogel daily disposable contact, monthly replacement, two-week replacement, spherical, toric, soft contact, and multifocal lenses for nearsighted or farsighted, and astigmatism or presbyopia. It sells its products to customers in the United States and internationally. CooperVision, Inc. was formerly known as Coopervision Ophthalmic Products, Inc. and changed its name to CooperVision, Inc. in August 1991. The company was founded in 1959 and is based in Victor, New York. CooperVision, Inc. operates as a subsidiary of The Cooper Companies Inc.

209 High Point Drive

Suite 100

Victor, NY 14564

United States

Founded in 1959





Key Executives for CooperVision, Inc.

President and Chief Operating Officer
Age: 52
Chief Financial Officer and Vice President
President of North America
Vice President and General Counsel
Age: 54
Senior Vice President of Global Professional & Clinical Affairs
Compensation as of Fiscal Year 2016.

CooperVision, Inc. Key Developments

CooperVision Announces Earnings Results for the Third Quarter of 2016; Provides Revenue Guidance for the Fourth Quarter of 2016

CooperVision, Inc. announced earnings results for the third quarter of 2016. For the quarter, the company reported revenues over $410 million, up 6%. The company posted strong results in all key areas of its business, resulting in 6% as reported in constant currency growth. This was another strong quarter and continues to show the strength of product portfolio. The company on a non-GAAP basis reported gross margin of 64.2% versus 61.8% in the third quarter of last year. In the third quarter, the company's non-GAAP operating income and margin were $119.4 million and 29.1% of revenue versus $97.7 million and 25.3% of revenue in the prior year. For the fourth quarter 2016, the company's revenue range is $390 million to $400 million or roughly 5% to 7.5% constant currency growth.

CooperVision, Inc. Unveils Biofinity Energys™ Contact Lenses

CooperVision, Inc. announced the introduction of Biofinity Energys™ with Digital Zone Optics™ lens design, pioneering contact lenses specifically created from the ground up for millions of digital device users. Combining breakthrough optical properties, a moisture-retaining material and a smooth, naturally wettable surface for long-lasting comfort, the patent-pending contact lenses are being rolled out in the United States on a phased basis beginning in July, and will enter select European markets later this year. CooperVision® Biofinity Energys™ contact lenses are designed for all-day wear, helping people’s eyes better adapt so they can seamlessly and continuously shift focus between digital devices and offline activities. After one week of wear, eight out of ten digital device users agreed that Biofinity Energys™ lenses made their eyes feel less tired. Two elements are at the heart of the lens’ performance and optimization for digital device users: Digital Zone Optics™ lens design, the breakthrough that integrates multiple front-surface aspheric curves across the entire optical zone. This simulates what’s known as positive power in the center of the lens, helping reduce strain on the eyes’ ciliary muscle as a person moves their gaze from on-screen to off-screen and back with less effort; Aquaform® Technology, which attracts and binds water throughout the lens material to retain moisture even during times of reduced blinking, which is common with device use. This helps alleviate dry eyes, providing the hydration, breathability, and softness that healthy eyes deserve. The lenses also incorporate a smooth, naturally wettable surface design with a special rounded edge. This reduces interaction between the lens and the inside of the eyelids, improving long-lasting wearing comfort. Biofinity Energys™ lenses are designed to be replaced monthly, and require similar care and handling as other soft contact lenses to ensure a healthier wearing experience. Consumers should consult with their eye care professional before wearing this or any other lens.

CooperVision, Inc. Announces Earnings Results for the Second Quarter of 2016; Provides Earnings Guidance for the Third and Fourth Quarter and Full Year of 2016

CooperVision, Inc. announced earnings results for the second quarter of 2016. For the period, the company reported revenues of $391 million, up 9%. Operating income was $102.4 million against $88.8 million in the prior year. For the year, the company expects effective tax rate is expected to be around 8%. Revenue is expected to be 5.5% to 7% constant currency growth. For the third and fourth quarter the company expects expect gross margins around 64% each quarter.

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