Cooper Cos. Sees 40% Growth Over 2 Years
IRVINE — With a major marketing agreement in Japan signed, Cooper Cos. said Thursday that it expects its earnings to rise 40% over the next two years, excluding a deferred tax benefit.
In a press release Thursday, Cooper said its CooperVision Inc. unit’s sales and operating income this year should grow “at mid-teens percentages.†Last year, Cooper had operating income of $11.8 million, or $1 a share, on revenue of $109.1 million.
CooperVision agreed to grant Rohto Pharmaceutical Co. Ltd. in Osaka exclusive rights to market CooperVision’s line of contact lenses in Japan and nonexclusive marketing rights in other Pacific Rim countries. Rohto, a maker of contact lens care products, needs regulatory approval, which the companies said should come within two years.
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