In This Story
The Cooper Companies Inc. (COO-6.54%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in net sales to $964.7 million from $931.6 million in the same quarter the previous year. The increase is attributed to growth in both CooperVision and CooperSurgical segments.
Gross profit for the quarter was $660.2 million compared to $623.8 million in the previous year. The increase is due to efficiency gains and a favorable product mix.
Selling, general, and administrative expenses increased to $387.9 million from $380.9 million, primarily due to increased selling activities in CooperVision.
Research and development expenses rose to $40.7 million from $39.5 million, driven by investments in myopia management programs and R&D projects.
Operating income for the quarter was $182.0 million, up from $153.1 million in the previous year. This increase is primarily due to higher net sales outpacing the rise in operating expenses.
Interest expense decreased to $26.0 million from $29.9 million, due to lower interest rates and debt balances.
Net income for the quarter was $104.3 million, up from $81.2 million in the previous year. Earnings per share increased to $0.52 from $0.41.
Cash provided by operating activities was $190.6 million, while cash used in investing and financing activities was $96.8 million and $96.6 million, respectively.
The Cooper Companies had a working capital of $987.4 million as of January 31, 2025. The company believes its current cash, cash equivalents, and future cash flow from operating activities will be sufficient to meet its anticipated cash needs for at least 12 months.
The filing also details various financial agreements, including a revolving credit agreement entered on May 1, 2024, with a maturity date of May 1, 2029.
The company identified a material weakness in its internal controls over financial reporting related to IT general controls within the CooperSurgical segment.
The Cooper Companies continues to focus on expanding its market presence and product offerings, with recent acquisitions contributing to its growth strategy.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the The Cooper Companies Inc. quarterly 10-Q report dated March 7, 2025. To report an error, please email earnings@qz.com.