Cooper Companies lowers FY12 profit outlook, shares down
(Reuters) - Contact lens maker Cooper Cos (COO.N) posted a rise in quarterly profit, but shares fell 5 percent in aftermarket trading as the company lowered its full-year profit estimate.
For full year 2012, Cooper now expects to report a profit of $4.88 to $5.13 per share, down from its previous estimate of $4.90 to $5.15 per share.
The outlook is largely below the $5.10 that analysts expect on average.
The company, however, raised the lower end of its full-year revenue outlook by $10 million and expects to report $1.40 billion to $1.44 billion. Analysts expect sales of $1.43 billion, according to Thomson Reuters I/B/E/S.
Second-quarter net income rose to $54.9 million, or $1.12 per share, from $35.4 million, or 73 cents per share, a year ago. Revenue rose 6 percent to $344.6 million.
Analysts had expected earnings, excluding items, of $1.20 per share, on revenue of $349.9 million.
Shares in the Pleasanton, California-based company fell to $75.50 on Thursday after the bell. They had closed at $80.06 on the New York Stock Exchange.
(Reporting by Adithya Venkatesan and Zeba Siddiqui in Bangalore; Editing by Sreejiraj Eluvangal)
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