Cooper Cos. Swings to Loss

The contact lens company reaffirms for the year, though.
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Cooper Cos. (COO) - Get Report swung to a second-quarter loss on a big manufacturing-asset write-off.

The Pleasanton, Calif., contact lens company lost $527,000, or a penny a share, for the quarter ended April 30, compared with the year-ago profit of $14.5 million, or 30 cents a share. Sales rose 7% from a year ago to $225 million.

The company said the latest quarter included 13 cents a share in Ocular integration costs and 49 cents a share in acquisition and restructuring-related expenses. Before those charges, the latest-quarter profit was 61 cents a share, a penny better than the Thomson Financial analyst consensus estimate.

Cooper said it expects to make $2.90 to $3.05 a share, excluding 30 cents a share in stock-based pay costs, for the year on revenue of $927 million to $967 million. Analysts were looking for a profit of $2.54 a share on sales of $929 million.