March 4, 2010 / 9:43 PM / in 9 years

UPDATE 1-Cooper Cos Q1 profit misses Street, shares fall

* Q1 adj EPS $0.49 misses Street by 3 cents

* Revenue rises 4 pct to $260.3 mln

* Sees fiscal 2010 adj EPS $2.45 to $2.55

* Shares down 6 pct in after-market trade

March 4 (Reuters) - Eye-care company Cooper Cos Inc (COO.N) posted a lower-than-expected quarterly profit, hurt by higher expenses, sending its shares down 6 percent in after-market trade.

For the first quarter ended Jan. 31, the company reported a net income of $20.4 million, or 44 cents a share, compared with $23.9 million, or 53 cents, a year ago.

Excluding items, it earned 49 cents a share.

Revenue rose 4 percent to $260.3 million.

Analysts on average expected earnings of 52 cents a share, excluding special items, on revenue of $262.2 million, according to Thomson Reuters I/B/E/S.

The company backed its fiscal 2010 adjusted earnings forecast of $2.45 to $2.55 a share, and raised sales outlook to between $1.11 billion and $1.17 billion from $1.10 billion to $1.16 billion.

Analysts on average were expecting earnings of $2.55 a share, on revenue of $1.13 billion, according to Thomson Reuters I/B/E/S.

For the first quarter, research and development expense rose 5 percent to $7.6 million, while selling, general and administrative expense were up 6 percent to $100.6 million.

Shares of the company were down $2.3 at $37.90 in trading after the bell. They closed at $40.20 Thursday on the New York Stock Exchange. (Reporting by Anand Basu in Bangalore; Editing by Maju Samuel)

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