Cooper Companies revises fiscal '09 outlook

PLEASANTON, Calif. (AP) — Contact lens maker Cooper Cos. Inc. on Thursday lowered the top end of its fiscal 2009 earnings per share forecast and issued fourth-quarter guidance.

The guidance came as Cooper reported that higher revenue and lower expenses combined to lift its fiscal third-quarter earnings nearly 23 percent, but still came in shy of expectations.

The company said it now expects earnings per share for the year ending in October to range from $2.27 to $2.29, compared with earlier guidance of $2.16 to $2.36 per share. Cooper also said it expects full-year revenue to range between $1.07 billion and $1.08 billion.

Analysts polled by Thomson Reuters, on average, have forecast earnings per share of $2.30 on revenue of $1.08 billion.

For the fourth quarter, the company expects to report earnings per share of 66 cents to 68 cents on revenue of $271 million to $285 million. Wall Street estimates quarterly profit of 60 cents per share and sales of $280.3 million.

In aftermarket trading, shares fell $1.12, or 4.2 percent, to $25.55, having closed earlier up 31 cents at $26.67.