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Cooper Companies PRESS RELEASE Cooper Companies Announces Third Quarter 2021 Results SAN RAMON , Calif . , Sept. 02 , 2021 ( GLOBE NEWSWIRE ) Cooper Companies ( NYSE : COO ) today announced financial results for its fiscal third quarter ended July 31 , 2021 . == • Revenue increased 32 % year - over - year to $ 763.4 million . CooperVision ( CVI ) revenue up 24 % to $ 557.5 million , and CooperSurgical ( CSI ) revenue up 60 % to $ 205.9 million . • GAAP diluted earnings per share $ 12.37 , up $ 11.25 from last year's third quarter . • Non - GAAP diluted earnings per share $ 3.41 , up $ 1.13 or 50 % from last year's third quarter . See " Reconciliation of Selected GAAP Results to Non - GAAP Results " below . Commenting on the results , Al White , Cooper's President and CEO said , " I am pleased to report another strong quarter with record revenues at both CooperVision and CooperSurgical driving record earnings and robust free cash flow . Our businesses continue to execute at a very high level and we look forward to continued success driven by our daily silicone hydrogel portfolio , our success within myopia management and continuing strength in fertility . " Third Quarter Operating Results • Revenue of $ 763.4 million , up 32 % from last year's third quarter , up 28 % in constant currency . • Gross margin of 68 % compared with 62 % in last year's third quarter . On a non - GAAP basis , gross margin was 68 % , up from 66 % last year driven primarily by favorable product mix . ● Operating margin of 13 % compared with 12 % in last year's third quarter . On a non - GAAP basis , operating margin was 27 % , up from 23 % last year driven by higher gross margin and operating expense leverage . • Interest expense of $ 5.6 million compared with $ 5.7 million in last year's third quarter . • Net debt outstanding at quarter end was $ 1,507.8 million ( total debt of $ 1,620.0 million less quarter - end cash and cash equivalents of $ 112.2 million ) . Adjusted leverage ratio ( net debt over adjusted EBITDA ) of 1.52x . • Cash provided by operations of $ 223.8 million offset by capital expenditures of $ 43.6 million resulted in free cash flow of $ 180.2 million . Third Quarter CooperVision ( CVI ) Operating Results • Revenue of $ 557.5 million , up 24 % from last year's third quarter , up 20 % in constant currency . • Revenue by category : ( In millions ) 3Q21 % of CVI Revenue 3Q21 % chg y / y Constant Currency % chg yly