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TheStreet Open House

The Cooper Companies Announces Third Quarter 2012 Results

Reconciliation of Non-GAAP EPS to GAAP EPS

To supplement our financial results and guidance presented on a GAAP basis, we use non-GAAP measures that we believe are helpful in understanding our results. The non-GAAP measures exclude debt extinguishment costs related to the amendment to our Credit Agreement and costs related to acquisitions. Our non-GAAP financial results and guidance are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements and guidance prepared in accordance with GAAP. Management uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the factors management uses in planning and forecasting for future periods.

In the fiscal third quarter of 2012, our non-GAAP results, and our fiscal 2012 guidance, excludes a $1.4 million loss related to the May 31, 2012 amendment to our Credit Agreement and costs related to the acquisition of Origio consisting of $4.0 million in direct acquisition costs recorded in selling, general and administrative expense and $0.4 million net gain related to the repayment of debt acquired recorded in interest expense. 

We also report revenue growth using the non-GAAP financial measure of constant currency revenue. Management presents and refers to constant currency information so that revenue results may be evaluated excluding the effect of foreign currency rate fluctuations. To present this information, current period revenue for entities reporting in currencies other than United States dollars are converted into United States dollars at the average foreign exchange rates for the corresponding period in the prior year.

   
  Three Months Ended July 31,
  2012 GAAP  Adjustments  2012 Non-GAAP
       
Operating income  $ 77,250  $ 4,042  $ 81,292
Income before income taxes  $ 71,308  $ 5,046  $ 76,354
Provision for income taxes  $ 4,433  $ 206  $ 4,639
Net income  $ 66,875  $ 4,840  $ 71,715
       
Diluted EPS  $ 1.36  $ 0.09  $ 1.45
       
   
  Fiscal 2012 EPS Guidance
  2012 GAAP  Adjustments  2012 Non-GAAP
       
Diluted EPS $5.10--$5.15 $0.09 $5.19--$5.24

Conference Call and Webcast

The Company will host a conference call today at 5:00 PM ET to discuss its fiscal third quarter 2012 financial results. The dial in number in the United States is +1-800-591-6923 and outside the United States is +1-617-614-4907. The passcode is 38368731. There will be a replay available approximately two hours after the call ends until Thursday, September 13, 2012. The replay number in the United States is +1-888-286-8010 and outside the United States is +1-617-801-6888. The replay passcode is 67403346. This call will also be broadcast live on our website, http://investor.coopercos.com . A transcript will be available on our website following the conference call. 

About The Cooper Companies

The Cooper Companies, Inc. ("Cooper") is a global medical device company publicly traded on the NYSE Euronext (NYSE:COO). Cooper is dedicated to being A Quality of Life Company™ with a focus on delivering shareholder value. Cooper operates through two business units, CooperVision and CooperSurgical.  CooperVision brings a refreshing perspective on vision care with a commitment to crafting a wide range of high-quality products for contact lens wearers and providing focused practitioner support. CooperSurgical focuses on supplying women's health clinicians with market leading products and treatment options to improve the delivery of healthcare to women.  Headquartered in Pleasanton, CA, Cooper has more than 7,500 employees with products sold in over 100 countries. For more information, please visit www.coopercos.com .

The Cooper Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10403

Forward-Looking Statements

This news release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995.  Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements which are other than statements of historical fact, including our 2012 Guidance and all statements regarding anticipated growth in our revenue, expected results of operations and integration of any acquisition are forward-looking. To identify these statements look for words like "believes," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. 

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