Cooper Cos, Increase per Share of up to 29 Percent

Specialty healthcare products maker The Cooper Companies Inc. on Thursday backed its 2003 earnings forecast, projecting an increase in earnings per share of up to 29 percent.

CooperVision, the company's contact lens business, expects worldwide contact lens revenue to approach $300 million in 2003, with strong specialty lens sales in the United States, Europe and Japan, the company said.

Cooper said it expects 2003 revenue of $380 to $400 million, up 21 percent to 27 percent from the previous year.

For the first quarter of fiscal 2003, the company projected earnings per share of 39 cents to 42 cents, and revenue of $86 million to $90 million. Wall Street analysts surveyed by Thomson First Call on average are looking for 41 cents a share for the first quarter and $1.99 for the full year.

The Lake Forest, California-based maker of contact lenses, surgical equipment and diagnostic products said it expects earnings per share for fiscal 2003 of $1.98 to $2.03, an increase of 26 percent to 29 percent over fiscal 2002.