SAN RAMON, Calif.—CooperCompanies (NYSE: COO) yesterday posted strong results for both its fiscal fourth quarter and full-year ended October 31, 2021. The company’s fourth quarter revenue climbed to $759.1 million, up 11 percent from last year’s fourth quarter (up 11 percent in constant currency). Fiscal 2021 revenue increased 20 percent to $2,92 billion (up 18 percent in constant currency). Commenting on the results, Al White, Cooper's president and CEO said, "We closed this fiscal year with record annual revenue, profits and cash flow. We continued taking market share globally in both contact lenses and fertility, and delivered on our strategic objectives including investing and growing our myopia management franchise. As we enter 2022, we have momentum and are well positioned to continue executing on our growth strategies across both businesses."

Fourth quarter gross margin was 66 percent compared with 62 percent year-ago. On a non-GAAP basis, gross margin was 67 percent, down from 68 percent last year driven primarily by currency. Operating margin was 17 percent compared with 15 percent in last year’s fourth quarter. On a non-GAAP basis, operating margin was 25 percent, down from 27 percent last year driven primarily by investment activity.
 
Fourth quarter revenue for CooperVision (CVI) rose to $564.8 million, up 12 percent from last year’s fourth quarter (up 11 percent in constant currency). CVI’s biggest product category, toric contact lenses, generated $181.3 million in revenue, accounting for 32 percent of its total fourth quarter revenue. The next biggest seller, single-use spheres, posted $166.5 million in revenue and accounted for 29 percent of CVI total revenue.
 
Revenue for CooperSurgical (CSI) revenue climbed to $194.3 million, up 11 percent from last year's fourth quarter (up 11 percent in constant currency).
 
Fiscal 2021 revenue for CooperCompanies increased to $2.92 billion, up 20 percent from fiscal 2020 (up 18 percent in constant currency.) Gross margin was 67 percent compared with 63 percent in fiscal 2020. Non-GAAP gross margin was 68 percent, up from 67 percent in fiscal 2020. Operating margin was 17 percent compared with 13 percent in fiscal 2020. Non-GAAP operating margin was 26 percent, up from 23 percent in fiscal 2020.
 
CVI revenue for fiscal 2021 increased to $2.15 billion, up 17 percent from fiscal 2020 (up 14 percent in constant currency). CSI revenue rose to $770.5 million, up 31 percent from fiscal 2020 (up 30 percent in constant currency).

CooperCompanies updated its financial guidance for fiscal 2022. It now estimates total revenue of $3.03 to $3.09 billion million (up 6 percent to 8 percent in constant currency). CVI revenue is projected to be $2.22 to $2.26 billion (up 6 percent to 8 percent in constant currency) CSI revenue is estimated to be $807 to $823 million (up 6 percent to 8 percent in constant currency) Fiscal 2022 non-GAAP diluted earnings per share are projected to be $13.60 to $14.00 (up 9.5 percent to 12.5 percent in constant currency).