The Cooper Companies, Inc. (COO) stock rose 0.13% today after the global contact lens and surgical equipment manufacturer reported earnings for its fiscal fourth quarter ended October 31, 2021.
Fourth-quarter revenue increased 11% year-over-year to $759.1 million, while fourth-quarter Non-GAAP diluted EPS came in at $3.28, up 12 cents or 4% from last year's fourth quarter.
International Growth
Cooper reported strong International growth in its CooperVision segment, particularly in its European and the Middle East (EMEA) and the Asia Pacific regions.
Overall, the EMEA region posted revenue of $213.9 million, a 17.9% year-over-year increase. Its Asia Pacific region reported revenue of $133 million, a 13% jump from the same period last year.
Al White, Cooper's President, and CEO stated that the company "closed this fiscal year with record annual revenue, profits and cash flow," particularly in overseas markets.
Fertility Sector
Cooper also made strides in its fertility sector, a subdivision of its CooperSurgical division.
The company reported revenue of $81.6 million in the fourth quarter, a 23% year-over-year increase.
White commented, "We continued taking market share globally in both contact lenses and fertility, and delivered on our strategic objectives including investing and growing our myopia management franchise."
In 2022, Cooper plans to grow both its fertility and myopia business with strategic investments.
