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EX - 99.1 2 cooperq12021 pressrelease.htm EX - 99.1 CooperCompanies PRESS RELEASE CooperCompanies Announces First Quarter 2021 Results San Ramon , Calif . , March 4 , 2021 - CooperCompanies ( NYSE : COO ) today announced financial results for its fiscal first quarter ended January 31 , 2021 . • • Revenue increased 5 % year - over - year to $ 680.5 million . CooperVision ( CVI ) revenue up 4 % to $ 507.0 million , and CooperSurgical ( CSI ) revenue up 8 % to $ 173.5 million . GAAP diluted earnings per share $ 42.31 , up $ 40.49 from last year's first quarter . • Non - GAAP diluted earnings per share $ 3.17 , up $ 0.48 or 18 % from last year's first quarter . See " Reconciliation of Selected GAAP Results to Non - GAAP Results " below . Commenting on the results , Al White , Cooper's President and CEO said , " We've started the year on a positive note , and we're excited about our momentum . Both our businesses performed well , delivering strong operational performance with robust earnings and cash flow . With improved visibility , we are initiating fiscal 2021 guidance and are enthusiastic about our prospects for the remainder of the year , and into the future . " First Quarter Operating Results • • • • Revenue of $ 680.5 million , up 5 % from last year's first quarter , up 3 % in constant currency . Gross margin of 66 % compared with 66 % in last year's first quarter . On a non - GAAP basis , gross margin was 68 % , up from 67 % last year driven by favorable product mix at CooperSurgical and currency . Operating margin of 20 % compared with 17 % in last year's first quarter . On a non - GAAP basis , operating margin was 27 % , up from 25 % last year driven by higher revenue and gross margin . Interest expense of $ 6.4 million compared with $ 11.6 million in last year's first quarter driven by lower interest rates and lower average debt . 1