Cooper Companies Profit More Than Doubles
June 5, 2009 by Stephen Kersey
Filed under Business
Not every company in the United States is struggling in these economic times. In fact, Cooper Companies announced on Thursday that their second quarter profit more than doubled when compared to last year.
Cooper Companies, which has business ventures in the vision and women’s healthcare industries, posted a profit of $24.6 million. In 2008, their second quarter profit was $11.2 million. Revenue was also up — from $259.2 million to $260.6 million.
How were they able to more than double their profit despite a small rise in revenue? Massive cost cutting. Their overhead was slashed from more than $107 million to less than $94 million.
Investors were happy with what they saw as Cooper Companies stock jumped $.50 after starting the day at around $28.59.
Cooper Companies is located in Pleasanton, California and its regarded as one of the fastest growing companies in the region.
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