financial

Cooper Companies Report ‘Solid’ Financial Results and Market-Share Gains in Third Quarter

PLEASANTON, Calif.—The Cooper Companies Inc. (NYSE:COO) reported “solid results” for its third quarter that reflect “market-share gains” and improved profitability, president and chief executive officer Robert S. Weiss said in the financial announcement late Thursday. The company said revenue for the quarter ended July 31 increased 7 percent year-over-year to $556 million (at constant currency exchange). At the business-unit level, CooperVision (CVI) revenue rose 8 percent to $437.3 million (at constant exchange) and CooperSurgical (CSI) revenue increased 13 percent to $118.7 million, according to the announcement. “This was another solid quarter with market-share gains, improving profitability and strong cash generation,”…


Highmark Health Reports ‘Strong’ Financial Results

PITTSBURGH, Pa.—Highmark Health, an integrated health care company with holdings in vision care, reported Thursday that its financial performance in the first half of 2017 was its “strongest financial performance for [a] six-month period” since the formation of Highmark in 1996. Highmark reported that it achieved an excess of revenue over expenses of $535 million and an operating gain of $505 million for the six-month period ended June 30. Both totals represented a “nearly $500 million improvement” compared with year-ago results. Highmark said its pre-tax result of $581 million was $496 million ahead of the prior-year total, and consolidated revenues…


Avedro Appoints Thomas E. Griffin as Chief Financial Officer

Thomas E. Griffin.​ WALTHAM, Mass.—Avedro, a Waltham, Mass.-based ophthalmic pharmaceutical and medical device company specializing in corneal remodeling, has appointed Thomas E. Griffin as chief financial officer. Griffin has more than 25 years of executive management experience at emerging growth medical technology companies. He brings a track record of success, leading both early-stage and commercial companies throughout his career. A veteran finance executive, Griffin has spent his entire career in financial operations at medical technology and biotechnology companies. For 10 years and during the company’s initial public offering, he served as CFO of Entellus Medical, a medical technology company that…


Ophthotech Posts First Quarter 2016 Financial and Operating Results

NEW YORK—Ophthotech Corp. (Nasdaq:OPHT) reported financial results for the first quarter ended March 31, 2016. As of March 31, 2016, the company had $356.1 million in cash, cash equivalents and available for sale securities. Collaboration revenue was $15.7 million for the quarter compared to $41.7 million for the same period in 2015. Collaboration revenue recognized in the first quarter of 2015 related primarily to drug supply shipments that Ophthotech completed under its agreement with Novartis. Revenue recognized in the prior year period related primarily to license fees attributable to the $50 million enrollment-based milestone Ophthotech achieved in March 2015 under…