Cooper's 3Q profit beats Wall Street estimates

Cooper Cos. on Thursday said earnings fell slightly in the third quarter but still beat Wall Street analysts' estimates on higher sales of eye-care products.

Net income for the period ended July 31 was $17.9 million, or 39 cents per share, compared with $8.1 million, or 18 cents per share, in the prior year period.

Excluding restructuring costs and other expenses, the company would have earned $31.5 million, or 67 cents per share, down from $33.7 million, or 71 cents per share, in the prior-year period.

Analysts polled by Thomson Reuters predicted earnings of 65 cents per share.

The company said revenue increased 14 percent to $285.9 million, led by growth of its vision and surgical units.

Sales of the company's toric contact lenses grew 34 percent to $83.4 million in the quarter. Overall sales in the Americas increased 44 percent, while sales in Europe grew 39 percent.

Shares of Cooper fell 14 cents Thursday to close at $13.17.