CooperVision (CVI) saw revenues increase by a reported 4 percent to $408.5 million in the second quarter of its financial year ended Apr. 30, 2017. In constant currencies, the revenue increase was of 7 percent. Growth was primarily driven by its silicon hydrogel products, with daily silicone hydrogel lenses up by 43 percent in constant currencies. The company said CVI's revenue increase continues to be driven by a diverse portfolio of clariti and MyDay in the daily space, Biofinity in the monthly space and Avaira in the 2-week space. CVI's gross margin of 67 percent compared with 61 percent in last year's second quarter, positively impacted by favorable currency and the product mix led by Biofinity.

By product segment, sales of toric lenses increased by a reported 9 percent to $131.8 million. Toric lenses accounted for 32 percent of CVI's overall revenues in the quarter. Multifocal lenses, representing 10 percent of CVI's quarterly sales, posted a 1 percent increase to $42.9 million. Single-use sphere, which accounted for 26 percent of CVI's sales, saw revenues increase by 7 percent to $104.1 million. Non-single use sphere and other lenses, which accounted for 32 percent of CVI's sales, were down by 1 percent to $129.7 million.

By geographical region, the Americas saw revenues increase by a reported 4 percent to $171.9 million. The Americas accounted for 41 percent of CVI's revenues in the quarter. The Europe, Middle East and Africa (Emea) region, which contributed 37 percent of CVI's quarterly sales, saw revenues increase by 2 percent to $152.5 million. The Asia Pacific posted revenues of $84.1 million, up by 9 percent. The Asia Pacific accounted for 21 percent of CVI's revenues for the quarter.

CVI is one of the two business units of The Cooper Companies, along with CooperSurgical (CSI). The Cooper Companies reported revenues of $522.4 million for the quarter, representing an 8 percent increase versus the same quarter a year ago. The company's gross margin was 66 percent as compared to 62 percent in last year's second quarter. The CSI business unit posted revenues of $113.9 million, up by a solid 23 percent, driven by organic growth and acquisitions. CSI's gross margin of 61 percent was up from 64 percent in last year's second quarter.

The company raised its guidance for fiscal 2017 to consolidated revenues of $2.11 billion to $2.135 billion. This includes a revenue growth of 7 to 8 percent for CVI, with revenues of $1.645 billion to $1.665 billion. CVI's revenue growth is expected to be driven by its diverse portfolio of products led by Biofinity, Avaira, clariti and MyDay. CSI's revenues for the full year are expected to be in the range between $465 million and $470 million, which equate to a growth of 4.5 to 5.5 percent.