Sector: Healthcare|Industry: Medical Instruments & Supplies|Market Cap: $18.32B|Employees: 16K
The Cooper Companies, Inc. is a global medical device company focused on improving lives through its vision, fertility, and women's health products and services. CooperVision, a major revenue stream, manufactures and markets contact lenses, including myopia management lenses. CooperSurgical offers a broad portfolio of products and services for fertility and women's health, with a focus on medical offices, ambulatory surgery centers, and hospitals. The company has a global presence with manufacturing and distribution facilities across the Americas, Europe, and Asia Pacific.
The 10-K reports net sales of $3.593 billion for the fiscal year ended October 31, 2023, compared to $3.308 billion for the previous year, representing an 8% increase. This growth was fueled by both the CooperVision and CooperSurgical segments, indicating broad-based performance improvements.
Operating income was $533.1 million, compared to $507.6 million in the prior year. However, the increase was offset by higher share-based compensation expenses, indicating a potential concern regarding cost management or increased investment in employee incentives.
Net income was $294.2 million, compared to $385.8 million in the prior year. This decrease in net income suggests challenges in maintaining profitability despite revenue growth, potentially due to increased expenses or other factors impacting the bottom line.