The Cooper Companies Inc COO
Q2 2013 Earnings Call Transcript

Transcript Call Date 06/06/2013

Operator: Good day ladies and gentlemen and welcome to the Second Quarter 2013 The Cooper Companies Earnings Conference Call. My name is Fulton, and I will be your operator for today. At this time, all participants are in a listen-only mode. Later we will be conducting a question-and-answer session. As a reminder this conference is being recorded for replay purposes.

I would now like to turn the conference over to your host for today, Ms. Kim Duncan. Please proceed, ma'am.

Kim Duncan - Senior Director, IR: Good afternoon, and welcome to The Cooper Companies' second quarter 2013 earnings conference call. I'm Kim Duncan, Senior Director of Investor Relations, and joining me on today's call are Bob Weiss, Chief Executive Officer; Greg Matz, Chief Financial Officer, and Al White, Chief Strategic Officer.

Before we get started, I'd like to remind you that this conference call contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, including all revenue and earnings per share guidance, and other statements regarding anticipated results of operations, market conditions, and integration of any acquisitions.

Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise, and are subject to risks and uncertainties. Events that could cause our actual results and future actions of the Company to differ materially from those described in the forward-looking statements are set forth under the caption, Forward-Looking Statements, in today's earnings release, and are described in our SEC filings, including business section of Cooper's Annual Report on Form 10-K. These are publicly available and on request from the Company's Investor Relations department.

Before I turn the call over to Bob, please let me comment on the agenda for the call. Bob will begin by providing some highlights on the quarter, followed by Greg, who will then discuss the second quarter financial results. We will keep the formal presentation to roughly 30 minutes and then open up the call for questions. We expect the call to last approximately one hour.

We request that anyone asking questions please limit yourself to one question. Should you have any additional questions, please call our Investor line at 925-460-3663 or email As a reminder, this call is being webcast and a copy of the earnings release is available through the Investor Relations section of the Cooper Companies' website.

With that, I'll turn the call over to Bob for his opening remarks.

Robert S. Weiss - President and CEO: Thank you, Kim, and good afternoon everyone. A few second quarter financial highlights, another solid quarter, I'm very pleased with the results. Top line growth of 11%, GAAP earnings per share of $1.52 up 36% versus the prior year, non-GAAP earnings per share of $1.50 is up $0.38 or 34% and financial free cash flow was $77.4 million, which means our trailing 12-month free cash flow is $243 million. Some highlights and key events are silicone hydrogel family of soft contact lenses continues to show strong growth and our recently announced launch of MyDay, our branded single-use silicone hydrogel lens should continue our momentum for many years to come.

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