By Martin Burns
Cooper, the parent company of contact lens manufacturer CooperVision, has seen a 60 per cent rise in its fiscal fourth-quarter earnings, the company has announced.
The Wall Street Journal reported that the rise far exceeded that predicted by experts and has resulted in the company forecasting earnings for the new year of $3.30 (£2.09) to $3.50 a share on revenue of $1.25 billion to $1.28 billion.
Cooper resident and chief executive Robert Weiss said that the organisation, which produces surgical implements and diagnostic products as well as contact lenses, implemented a cost-cutting initiative recently which has proven successful.
He told the newspaper: "We are very pleased with our strong finish to a successful year as we continued to take market share, show strength in margins and deliver strong free cashflow."
Earlier this year, CooperVison launched the Gear Up Grants programme, which helps teens understand how healthy vision can improve their competitive performance both on and off the field.
by Alexa Kaczka