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The Cooper Companies Announces Fourth Quarter and Full Year 2016 Results

The Cooper Companies announced financial results for the fiscal fourth quarter and full year ended October 31, 2016. Fourth quarter revenue increased 14% year-over-year to $518.7 million. Fiscal 2016 revenue increased 9% to $1,966.8 million.

Fourth quarter GAAP earnings per share (EPS) $1.23, up 48 cents or 64% from last year’s fourth quarter. Fiscal 2016 GAAP EPS $5.59, up 35% from fiscal 2015. Fourth quarter non-GAAP EPS $2.28, up 28 cents or 14% from last year’s fourth quarter. Fiscal 2016 non-GAAP EPS $8.44, up 13% from fiscal 2015.

Revenue $1,966.8 million, up 9.4% from fiscal 2015, up 7.3% pro forma.

Cash provided by operations $509.6 million and capital expenditures $152.6 million resulted in free cash flow of $357.0 million.

Commenting on the results, Robert S. Weiss, Cooper’s president and chief executive officer said, “I am pleased to report record revenue and free cash flow for the year. We accomplished this through market share gains, a successful push into the 1-Day silicone hydrogel space, growth in our Biofinity® franchise and very strong year in our CooperSurgical business. We enter fiscal 2017 with momentum and are well positioned for sustained growth in each of our businesses going forward.”

Click HERE for the full press release.

Modern Optical Appoints Director of Sales Development

Chris Millet _Modern Optical

 

Roselle, IL. – Modern Optical International announces that Chris Millet has been named to its senior management team as Director of Sales Development. In this newly created position, Millet will develop, plan, and execute sales strategies. Millet brings over two decades of optical experience to Modern Optical. In past roles, he served as Chief Operating Officer at Professional Eye Care Associates of America, Inc. and as Regional Sales Manager at Hoya Vision Care.

“We are thrilled to have Chris join our Modern Family,” said Ken Weissman, President of Modern Optical International. “His industry knowledge and extensive professional network will create new opportunities for our growing company.”

For full press release, click HERE.

Canada Well Represented Among 2016 Transitions Award Finalists

PINELLAS PARK, Fla. – Transitions Optical, Inc. has named the finalists for its annual Transitions Innovation Awards program, which recognizes both individuals and companies for their innovative efforts to support the Transitions® brand over the past year. The finalists will be honored during Transitions Academy 2017, where the winners will be announced.

2016 Transitions Brand Ambassador

The Transitions Brand Ambassador award celebrates an individual who best showcases their dedication to being an influential advocate of the Transitions brand. The 2016 finalists include:

Best in Training

The Best in Training award celebrates an individual, company or educator that has shown creativity in developing or offering training and education opportunities that include dispensing photochromic lenses, the Transitions brand or Transitions® family of products. The 2016 finalists include:

 Best in Patient Experience

The Best in Patient Experience award is presented to an individual or company for developing a forward-thinking approach to consistently dispense Transitions lens products to meet individual patient needs. The 2016 finalists include:

 

Click HERE for the full press release.

 

Vision Expo East Announces Innovative New Education Content

Alexandria, VA – Numerous innovative programs have been added to the education curriculum at International Vision Expo East 2017, taking place at the Javits Center in New York, NY (Education: Mar. 30–Apr. 2; Exhibition: Mar. 31–Apr. 3). Registration is now open for the industry’s most comprehensive continuing education program, held steps away from the largest exhibit hall of eyewear and eyecare products in the Americas.

“Vision Expo East 2017 features over 300 hours of continuing education, including 20 specialty tracks,” said Mark Dunbar, OD, FAAO, Co-Chairman, Conference Advisory Board. “Attendees have access to endless program choices developed and delivered by the industry’s most prestigious lecturers, which is just one of the reasons why 99% of eyecare professionals attending say they gain valuable insights at International Vision Expo that will have a positive impact on their practice.”

The attendee-favorite Global Contact Lens Forum returns as a “meeting within a meeting”, with a new format offering direct access to thought leaders discussing the future of the contact lens practice, along with the latest advancements and critical business strategies.

The Ocular Surface Disease and Wellness Symposium will teach attendees how an ocular practice can mirror a preventative care model to better diagnose and treat patients, and the expertise needed to recognize dry eye diseases.

“Vision Expo is noted for its diversified curriculum applicable to all eyecare providers, covering the latest hot-topics,” said Ben Gaddie, OD, FAAO, Co-Chairman, Conference Advisory Board. “This year, we are excited to unveil an innovative collaboration with the biggest name in technology. As the global hub for the eyecare industry, we’re bringing attendees a high-value experience throughout all four days.”

New education programs at International Vision Expo East 2017:

  • The all-new Vision Series format allows attendees to continue learning over lunch while industry leaders address the latest clinical innovations.
  • Building on its success and high demand from Vision Expo West, Vision Expo East will host a new, expanded Scleral Lens Track including a hands-on workshop. Attendees will gain a thorough understanding of the scleral lens fitting process and advanced problem solving techniques.
  • Attendees will learn from the next generation of industry leaders at the Intrepid Talks, where members of The Intrepid Eye Society present on the advancement of optometry covering topics related to future medical therapeutics/delivery platforms, diagnostics, collaborative care models, practice development and more.
  • New Blue Light sessions present everything from the latest research findings to the basics of blue light—both indoors and outside—and how to communicate this critical information and offer the best solutions to patients.
  • The new Practice Owner & Manager Essentials program will focus on the business side of optometry for doctors and key decision makers, including strategies doctors need to grow business.
  • The newly created, retail-focused Manager’s ‘To-Do-List’ mini-track features actionable takeaways attendees can immediately implement.

Additionally, Vision Expo has partnered with Google and Marketing4ECPs to share techniques to optimize technology to grow business. More details will be announced in January.

 

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