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Shares of Cooper Cos. (NYSE: COO) are trading down 11.26% in the premarket (8:58 a.m.) following last night's fourth quarter earnings release.The contact lens maker reported a quarterly loss of $24.2 million, or 54 cents per share. Analysts had been expecting to see Cooper show fourth-quarter earnings of 68 cents per share. Included in the company's figures is $20.3 million costs related to acquisitions, stock-based, compensation and litigation. Looking back a year ago, COO posted a profit of $13.6 million, or 30 cents per share, in the same quarter.
The company posted an 17.5% jump in fourth-quarter sales, which rose up to $253.8 million from $216 million a year earlier. Analysts forecast quarterly sales of $248.8 million.
Looking ahead to the company's full year numbers, Cooper anticipates earnings of $1.30 to $1.80 per share, which is below analysts' expectations for earnings of $2.85 per share. The company also boosted its revenue outlook from$1.02 billion to $1.09 billion upwards to a range of $1.04 billion to $1.09 billion.
Eliza Popescu is a financial writer for the online investment advisory service Investor's Observer.
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