PLEASANTON, Calif.—The Cooper Companies, Inc. (NYSE:COO) reported a 5 percent revenue increase year-over-year to $434.7 million, which amounts to a 4 percent increase on a constant currency basis, for the fiscal second quarter ended April 30, 2015. CooperVision (CVI) revenue rose 9 percent to $359.6 million, and CooperSurgical (CSI) revenue fell 8 percent to $75.1 million.

Gross margin for The Cooper Companies slipped to 62 percent compared with 65 percent in last year's second quarter. Gross margin was negatively impacted primarily by currency, and integration and facility start-up costs, offset in part by favorable product mix, the company said. Excluding integration and facility start-up costs, gross margin was 63 percent versus 65 percent last year.

Cooper Company’s operating margin dropped to 16 percent from 22 percent in last year's second quarter. The decrease was primarily due to integration related expenses and increased amortization arising from the Sauflon acquisition, according to Cooper Companies.

Depreciation reached $32.2 million, up 33 percent from last year's second quarter. Amortization rose to $12.3 million, up 65 percent from last year's second quarter, primarily due to the Sauflon acquisition, the company said.

Total debt decreased $47.6 million from Jan.31, 2015, to $1,347.7 million, primarily due to operational cash flow generation and subsequent debt pay down. Interest expense increased to $4.7 million compared with $1.6 million in last year's second quarter primarily due to higher debt and interest rates associated with the acquisition of Sauflon. Cash provided by operations was $110.6 million, capital expenditures $53.4 million, and excluding integration costs of $10.6 million resulted in free cash flow of $67.8 million.

Commenting on the results, Robert S. Weiss, Cooper's president and chief executive officer said, "We are very pleased with our continued market share gains at CooperVision. During the second quarter, we made great progress with our launch of clariti in the United States and we made significant strides on the integration of the Sauflon business. We remain confident we are well positioned to accelerate growth in the back half of this year and into fiscal 2016."