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The Cooper Companies' CEO Discusses Q3 Results - Earnings Call Transcript

Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Events that could cause our actual results and future actions of the company to differ materially from those described in forward-looking statements are set forth under the caption, forward-looking statements in today's earnings release, and are described in our SEC filings, including the business section of Cooper's annual report on Form 10-K. These are publicly available and on request from the company's Investor Relations department.

Now, before I turn the call over to Bob, please let me comment on the agenda for the call. Bob will begin by providing highlights on the quarter followed by Greg, who will then discuss the third quarter financial results. We will keep the formal presentation to roughly 30 minutes then open up the call for questions. We expect the call to last approximately one hour.

We request that anyone asking questions please limit yourself to one question. Should we have any additional questions, please call our Investor line at 925-460-3663, or e-mail ir@cooperco.com. As a reminder, this call is being webcast and a copy of the earnings release is available through the Investor Relations section of the Cooper Companies' website.

With that, I'll turn the call over to Bob for his opening remarks.

Bob Weiss

Thank you, Kim, and good afternoon and evening to everyone. Well we're back on track with another great quarter. We're executing our strategy that has been in place for the past five years. We're accomplishing our long-term objectives, taking market share, posting gross margin expansion, delivering double-digit earnings per share growth and delivering free cash flow.

For the quarter, we delivered revenue growth of 8%, 9% organic constant currency. For the quarter, we delivered GAAP earnings per share of $1.36, up 51% versus the prior year. For the quarter, we delivered non-GAAP earnings per share of $1.45, up 26% versus the prior year. Our non-GAAP trailing 12 months, earnings per share is now $5.15. For the quarter, we delivered free cash flow of $63 million and trailing 12-month free cash flow of $225 million.

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