SAN RAMON, Calif.—CooperCompanies (NYSE: COO) reported late yesterday financial results for its fiscal fourth quarter and full year ended Oct. 31, 2022. The company reported its year-end sales revenue at $3,308.4 million, up 13 percent from fiscal 2021, up 19 percent in constant currency, up 11 percent organically. Commenting on the results, Al White, Cooper's president and CEO said, "We closed this fiscal year with record annual revenue driven by share gains in contact lenses and fertility. As we enter fiscal 2023, we remain focused on delivering market share gains and long-term shareholder value."

For the fourth quarter, CooperCompanies revenue increased 12 percent year-over-year to $848.1 million. CooperVision (CVI) revenue of $561.8 million for the three-month period was down one percent from last year's fourth quarter, up 10 percent in constant currency and up 11 percent organically. For the fourth quarter period, in the Americas, CooperVision sales were $229.1 million, up 5 percent from last year's fourth quarter, up 11 percent in constant currency and 11 percent in organically.

CooperSurgical (CSI) revenue for the fourth quarter was reported at $286.3 million, up 47 percent from last year's fourth quarter, up 53 percent in constant currency, up 15 percent organically, the company said.

For the fiscal year 2022, CVI revenue was $2,243.3 million, up 4 percent from fiscal 2021, up 11 percent in constant currency, up 12 percent organically, while CSI revenue was $1,065.1 million, up 38 percent from fiscal 2021, up 43 percent in constant currency, up 8 percent organically. Cash provided by operations of $692.4 million offset by capital expenditures of $242.0 million resulted in free cash flow of $450.4 million.

The company also initiated its fiscal year 2023 guidance, looking at fiscal 2023 total revenue of $3,455 million to $3,515 million (organic growth of 6 percent to 8 percent), including 2023 guidance for CVI of revenues of $2,325 million to $2,365 million (organic growth of 7 percent to 9 percent). CSI revenue 2023 guidance is $1,130 million to $1,150 million (organic growth of 4 percent to 6 percent). The company noted that its fiscal year 2023 guidance does not include the Cook Medical Reproductive Health acquisition announced on Feb. 7, 2022, as the transaction is pending regulatory approval.

With respect to the company’s guidance expectations, the company said it has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measure. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, the company is not able to provide such guidance.