PLEASANTON, Calif.—The Cooper Cos (NYSE:COO) reported overall sales gains for the third fiscal quarter ended July 31, 2018. Revenue for the group rose 19 percent year-over-year to $660 million for the period. CooperVision (CVI) revenue rose 12 percent to $489.1 million while CooperSurgical (CSI) revenue climbed 44 percent to $170.9 million, the company said. Albert White, Cooper’s president and CEO said, "I'm very pleased with the progress we made this quarter. We had record revenue at CooperVision and CooperSurgical, and believe we are in a unique position to capitalize on current market dynamics to maintain our revenue momentum through operational investments which we believe will lead to continuing strong performance.”

The company’s earnings for the quarter decreased, with Cooper reporting earnings of $100.8 million, or $2.03 per share. This compares with $103.6 million, or $2.09 per share, in last year's third quarter.

In the period, CVI revenues reflected gains in all contact lens categories. Single-use sphere grew 19 percent, to $137.6 million while multifocal revenue rose 13 percent for the quarter to $52.7 million and toric revenues grow 11 percent to reach $153.6 million. CVI’s ‘other’ CL revenue was also up by 7 percent to reach $145.2 million for the quarter.
Sales were also up by geography for CooperVision, with increases in Asia Pacific, EMEA and Americas regions.

For CooperVision, gross margin of 66 percent compared with 65 percent in last year’s third quarter. Gross margin was favorably impacted primarily by manufacturing efficiencies and product mix, offset in part by currency, the company noted.