results

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…


Second Sight Reports Second Quarter 2017 Results and Highlights

SYLMAR, Calif.—Second Sight Medical Products Inc. (NASDAQ: EYES), a developer, manufacturer and marketer of implantable visual prosthetics to provide useful vision to blind patients, reported Tuesday that it generated net sales of $2.2 million in the second quarter ended June 30. This compared with $1.0 million in the second quarter of 2016, the company said. The higher revenue is “mainly due to the increase in implant volume and the higher CMS U.S. reimbursement rate available in 2017,” the company noted. Second Sight reported a net loss for the second quarter of $6.8 million, which compares with a net loss of…


Valeant Reports First-Quarter Results and Raises Full-Year Adjusted Earnings Guidance Range

LAVAL, Quebec—Valeant Pharmaceuticals International Inc. (NYSE: VRX) (TSX: VRX), parent company of Bausch + Lomb, reported Tuesday that divestiture efforts enabled the company to reduce its debt by $1.3 billion in the first quarter of 2017 and by $3.6 billion overall since the end of the first quarter of 2016. Sales in the first quarter, which ended March 31, declined 11.1 percent to $2.1 billion from the year-ago total of $2.37 billion. In the Bausch + Lomb/International segment, revenues rose about $4 million to $1.15 billion in the quarter (compared with $1.146 billion in the year-ago period), according to Valeant’s…


NIH Study Shows Eye Exam Schedule Results in Better Outcomes

BETHESDA, Md.—New research results may lead to a reconsideration of how often people diagnosed with type 1 diabetes should have an eye screening. The current practice recommends that type 1 diabetics (after three years of duration) schedule an annual eye screening to diagnose and/or prevent the occurrence of severe eye problems due to their diabetes. However, the findings of a new study published April 19 by the New England Journal of Medicine could lead to changes in the once-a-year schedule for some type 1 diabetics. The findings indicate that by adjusting the frequency of eye screenings for people with type…