Qatar tribune Minister of Finance HE Ali bin Ahmed Al Kuwari held a pivotal meeting with London Stock Exchange Group (LSEG) CEO David Schwimmer during his official visit to the United Kingdom. The meeting underscored the robust relationship between Qatar and the United Kingdom, particularly in the realms of finance and economics. Both leaders explored avenues to deepen collaboration and enhance partnerships that align with their mutual goals of driving sustainable economic growth and innovation. Discussions revolved around key areas of interest, including advancements in financial technology (fintech), strategies for bolstering market liquidity, and measures to promote bilateral investments. The parties also examined the potential for joint initiatives that leverage LSEG’s global expertise in financial infrastructure and Qatar’s strategic position as a regional economic hub. This engagement reflects Qatar’s proactive diplomacy in expanding its global economic footprint and solidifying its role as a bridge between regional and international financial markets. Copy 06/12/2024 10
NoneTop Trump, Biden, and Harris Advisers Spill the Tea on 2024
The Securities and Exchange Commission (SEC) has instructed Nusasiri (NUSA) to amend its financial statements for 2023 and the third quarter of 2024, have them audited and reviewed by the company's auditor, and then submit them to the regulator. Nusasiri is also required to make simultaneous public disclosure through the Electronic Listed Company Information Transmission System of the Stock Exchange of Thailand (SET) by Dec 19. The move follows the SEC filing a criminal complaint against the directors, former directors, executives and close associates of Nusasiri with the Department of Special Investigation (DSI). Six individuals were accused of colluding to dishonestly purchase a hotel located abroad at a significantly inflated price, selling Nusasiri condo units in Bangkok at a price lower than the appraised price, and transferring company funds into personal accounts and those of close associates. As a result, Nusasiri was required to amend its financial statements to ensure disclosure of accurate information, the SEC said. "The annual financial statements for 2023 and the third quarter of 2024 submitted by the company do not contain amended information related to these transactions," said the regulator. The criminal complaint also includes presenting false documents and information to a competent official, the SEC or an auditor. The SEC reported this case to the Anti-Money Laundering Office, the statement noted. Following a complaint in 2023, the SEC conducted an investigation, coordinated with the DSI and found evidence that in 2020, four directors and executives of Nusasiri colluded to purchase Panacee Grand Hotel Roemerbad in Germany at a significantly higher price than the appraised price based on the market approach. "They also colluded to act dishonestly in selling Nusasiri condo units at a price lower than the appraised price, as well as transferred funds out of the company into personal accounts and those of close associates for their own benefit, causing damage to Nusasiri," said the SEC. In so doing, the seller of Panacee and an authorised director of the company purchasing the Nusasiri condo units assisted the first four persons in committing the offences. The SEC verified the deposit for the hotel purchase that Nusasiri paid to the seller was not transferred to the seller's account. The directors and executives of Nusasiri and their close associates benefited from the sale money, noted the regulator. The four directors and executives of the company, at the time of the offence, submitted false evidence and information to an SEC official during the clarification of this issue, according to the statement. "They submitted a false report from the independent financial advisor to deceive the regulator about the true value of the hotel as recorded in the accounts," noted the regulator. Furthermore, the six charged individuals were found to have fabricated the accounts to mislead the company's auditor into believing the company had received full payment for the condo units from the purchasing company, so that the auditor would not question the recording of the transaction in the accounts, the statement noted. The actions of the six individuals violate the Securities and Exchange Act of 1992, said the regulator. Nuttpasint Chet-udomlap, director and interim chief executive of Nusasiri, said in a filing to the SET that the transactions requiring amendments were executed by former directors and executives of the company, against whom criminal complaints were filed by the SEC. He said detailed disclosures regarding these matters were provided in the notes to the third-quarter statements. The company is in talks with the SEC to address the required amendments.This Hong Kong hilltop apartment's decor was inspired by its spectacular natural views
Brock Purdy and Nick Bosa are not available for the San Francisco 49ers when they enter Green Bay with designs on finding their finishing kick on Sunday afternoon. Purdy is out with a right shoulder injury and won't leave the sideline at Lambeau Field, head coach Kyle Shanahan said Friday, when he also declared Bosa out and confirmed journeyman Brandon Allen would make his 10th career start at quarterback. "Outside of here people haven't seen a lot of Brandon. But it's his second year (with the 49ers)," Shanahan said. "Obviously guys want Brock up, but guys are excited to see Brandon play." Shanahan said the 49ers are "a little surprised" Purdy experienced tightness and discomfort in his shoulder after an MRI exam on Monday that showed no long-term cause for concern. "The way it responded this week, it's really up in the air for next week," Shanahan said of Purdy's long-term prognosis. Allen's last NFL start on the road was with the Bengals at the Ravens in 2020. Allen completed 6 of 21 passes for 48 yards with two interceptions. He finished with a passer rating of 0.0 in a 38--3 loss. "It's definitely an opportunity for me to go out and play well and put our guys in a good position to win the game," Allen said Friday. "And obviously we want Brock back and healthy and all that, but for time being, it is an opportunity for me." Purdy took the practice field Thursday with the intent to participate. His shoulder tightened significantly, and the 49ers ushered him off the field to meet with trainers. Purdy beat the Packers in the NFC divisional playoffs at San Francisco in January, but Allen is familiar to Packers head coach Matt LaFleur. LaFleur was an assistant coach with the Rams during Allen's two-year run in Los Angeles. Allen broke into the NFL in 2016 with the Jaguars and is 2-7 in nine career starts. He went 1-2 with the Broncos in 2019 and 1-5 in six starts over two years with the Bengals in 2020 and ‘21. A victory against the visiting 49ers on Sunday would bolster the Packers' playoff chances, send a conference rival below .500 and avenge a bitter playoff defeat. Those seemingly rank in no particular order for the Packers (8-3), although they don't shy from living at least partially in the past ahead of a Week 12 showdown. San Francisco eliminated Green Bay 24-21 in the NFC divisional playoffs last season, scoring 10 unanswered points in the fourth quarter. "That's what you've got to sit with all offseason, is going back, watching the game, trying to see what you could have done better," Packers quarterback Jordan Love said. "What you could have done differently in that game. ... Just knowing that's the team that knocked us out, we're definitely hungry for this game." Ditto for San Francisco. The 49ers fell to 5-5 after last week's 20-17 home loss to Seattle, done in by Geno Smith's 13-yard touchdown run with 12 seconds to play. Still only a game behind NFC West-leading Arizona, the reigning conference champion 49ers are just 1-3 in division play and can ill afford to lose more ground. A visit to AFC East leader Buffalo awaits after the trip to Green Bay. While they're dealing with plenty of not-so-good news on the injury front, the 49ers do anticipate the return of other contributors. Cornerback Charvarius Ward, who missed the past two games following the death of his 1-year-old daughter, practiced Wednesday. Tight end George Kittle also is eager to play after a nagging hamstring injury sidelined him against the Seahawks. "Very excited," Kittle said. "Can't pass up playing the Packers, so no, I will be out there for sure." Allen was a three-year starter at Arkansas but has been a journeyman backup since entering the NFL in 2016 as the 201st overall pick of the Jaguars. Shanahan and LaFleur have been fierce competitors since twice working together, first as low-level assistants with the Texans in 2008, then on the so-called "dream team" staff in Washington that also included Sean McVay, Mike McDaniel and Raheem Morris; and two seasons with the Falcons (2015, 2016) where LaFleur was quarterbacks coach and Shanahan called the plays. Shanahan scored the most recent win over LaFleur in January. Green Bay has won seven of the past eight regular-season meetings between the franchises. But the familiarity and shared-brain approach to offense that has the coaches completed each other's play calls has led to some tight games. The past three at Lambeau Field were all decided by three points. Green Bay, which hosts a home game on Thanksgiving next Thursday, is starting a run of three games in 12 days. They'll play back-to-back Thursday games. Their Week 14 game is at Detroit. That might make it good news for LaFleur that surprising contributors have emerged of late. Packers wideout Christian Watson had a career-best 150 receiving yards on only four catches during last week's 20-19 road win against the Chicago Bears. His diving 60-yard reception in the fourth quarter put the Packers in position for Love's go-ahead, 1-yard scoring run with 2:59 to play. Watson entered the game with eight catches for 83 yards over his previous three contests, but LaFleur assured Watson remains a "big part" of the attack. "He's a guy who's got every measurable known to man in terms of the size, the speed, and it's not like those were easy plays he was making," LaFleur said. "He was making tough, contested catches." San Francisco will aim to generate more pressure against Love than the Bears, who sacked him just once. The 49ers collected four sacks against the Seahawks, with Bosa and Leonard Floyd contributing 1.5 apiece. Recent regular-season history between the Packers and 49ers at Lambeau Field has favored Green Bay. The Packers have won seven of their past eight home games against the 49ers and are 22-11 versus San Francisco at home all-time. Green Bay leads the series 34-28-1. --Field Level MediaUniversal Technical Institute ( NYSE:UTI – Free Report ) had its price target increased by Truist Financial from $22.00 to $26.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the stock. A number of other research analysts have also recently weighed in on UTI. StockNews.com upgraded shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price target on shares of Universal Technical Institute in a report on Wednesday, September 11th. Lake Street Capital raised their price objective on shares of Universal Technical Institute from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Barrington Research reaffirmed an “outperform” rating and set a $22.00 target price on shares of Universal Technical Institute in a research note on Friday, November 15th. Finally, B. Riley boosted their price objective on Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $24.00. View Our Latest Report on Universal Technical Institute Universal Technical Institute Price Performance Hedge Funds Weigh In On Universal Technical Institute A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in Universal Technical Institute in the second quarter worth about $675,000. First Eagle Investment Management LLC lifted its position in shares of Universal Technical Institute by 37.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 518,888 shares of the company’s stock worth $8,162,000 after purchasing an additional 140,600 shares during the period. Great Lakes Advisors LLC bought a new position in shares of Universal Technical Institute during the second quarter valued at approximately $3,103,000. International Assets Investment Management LLC increased its holdings in Universal Technical Institute by 1,526.0% during the third quarter. International Assets Investment Management LLC now owns 4,065 shares of the company’s stock valued at $66,000 after buying an additional 3,815 shares during the period. Finally, Pier Capital LLC raised its stake in Universal Technical Institute by 15.7% in the second quarter. Pier Capital LLC now owns 351,809 shares of the company’s stock worth $5,534,000 after buying an additional 47,819 shares in the last quarter. Institutional investors own 75.67% of the company’s stock. Universal Technical Institute Company Profile ( Get Free Report ) Universal Technical Institute, Inc provides transportation, skilled trades, and healthcare education programs in the United States. The company operates in two segments, UTI and Concorde. It offers certificate, diploma, or degree programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology. Featured Stories Receive News & Ratings for Universal Technical Institute Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Technical Institute and related companies with MarketBeat.com's FREE daily email newsletter .Thousands of social assistance cheques have not been distributed in British Columbia because of the Canada Post strike, prompting an investigation by provincial ombudsperson Jay Chalke. Chalke's office began investigating when he was told by the Ministry of Social Development and Poverty Reduction that many income and disability assistance cheques weren't delivered. Chalke says in a statement that he's concerned that many of B.C.'s most vulnerable people will be left without funds for food and shelter, especially during the upcoming holiday season. He says that despite the ministry's efforts to encourage direct deposit, thousands of hard-copy cheques are mailed every month, and the ministry says 40 per cent of those payments weren't sent last month. The potential for a Canada Post strike was widely reported before it happened, and Chalke says the ministry needed to have a plan for distributing the cheques without mail service. Chalke says his investigation will assess the adequacy of that plan. The statement says the investigation will also look into the ministry’s contingency planning before the strike was announced, as well as steps taken during the strike to distribute hard copy cheques to the 15 per cent of income and disability assistance recipients who don't get direct deposit. “The next social assistance payment date is Dec. 18. The end of December is when many ministry employees intend to be on vacation, which could present operational challenges,” Chalke says. "I am calling on the government to demonstrate it has a plan in place to achieve better and faster results for December’s cheques in the event the strike continues.” This report by The Canadian Press was first published Dec. 6, 2024.
The Lagos state politics is taking a major turn ahead of the 2027 governorship election in the state By counting, no less than six interested persons have surfaced, including Seyi Tinubu, the son of President Bola Tinubu, in the race to succeed Governor Babajide Sanwo-Olu The 2027 governorship election is another battle for the survival of the APC in Lagos state, considering the shake-up the party experienced in the 2023 presidential election Don't miss out! Join Legit.ng's Sports News channel on WhatsApp now! The year 2027 is another moment when many Nigerians will troop out to vote for new leaders. Though 2027 looked like three years away, the politicians are forward-looking, with their mission intact. Lagos state is focused on who will succeed Governor Babajide Sanwo-Olu. The state requires nothing more than leadership. Lagos is Africa's commercial and industrial hub and the largest subnational economy. According to This Day, the permutation for the Lagos race is also a battle for the All Progressives Congress (APC), considering the fact that the party had held power in the state since the return of democracy in 1999. Read also Just In: Tinubu directs $2.5bn investment to Borgu, kingdom that made him Jagaban Here are the potential candidates for the Lagos governorship in 2027 under the APC: PAY ATTENTION: Legit.ng Needs Your Help! Take our Survey Now and See Improvements at LEGIT.NG Tomorrow Senator Tokunbo Abiru Senator Tokunbo Abiru is a top contender from Lagos East. He's a Muslim with little exposure to politics but has a strong background as a technocrat. Abiru worked as a commissioner in the Lagos state government under former Governor Babatunde Fashola. His experience and connections make him a strong candidate for the position. Hakeem Muri Okunola (HMO) Dr. Hakeem Muri Okunola, also known as HMO, is another strong contender. He was the immediate past Head of Service in Lagos State and has worked as a private secretary to Bola Tinubu, both as governor and president. Although zoning doesn't favour him, his connection to Tinubu could be an advantage. Honorable Femi Gbajabiamila The current Chief of Staff to President Bola Tinubu, Honourable Femi Gbajabiamila, is also in the running. Read also 2027: Makinde finally responds as Ganduje mentions 2 key states APC is targeting However, his lack of experience working in the Lagos government and his reputation as a core politician might make him less likely to get the nod from Tinubu. Akinwunmi Ambode Akinwunmi Ambode, the former Governor of Lagos, is being pushed by some residents to return as governor in 2027. His experience and previous track record make him a viable candidate 2. Seyi Tinubu Seyi Tinubu, the son of Bola Tinubu, is also mentioned as a potential candidate. However, his lack of experience and perceived dynasty politics might work against him. Mudashiru Obasa Obasa is the current speaker of the Lagos state House of Assembly and has been rumoured to be nursing the ambition as well. However, the influential lawmaker recently clarified his governorship ambition, stating that he has the potential to govern the state. PAY ATTENTION : Legit.ng Needs Your Opinion! That's your chance to change your favourite news media. Fill in a short questionnaire Source: Legit.ng
Tevogen Bio CEO Reflects on Public Support, Reaffirms Preserving Shareholder Value Remains His Priority, and Reinforces Options Including a Potential Share Buyback to Support Company Value
Biden is considering preemptive pardons for officials and allies before Trump takes officeReturning to the office a few days a week is worth the commute, experts say
SAN RAMON, Calif., Dec. 05, 2024 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal fourth quarter and full year ended October 31, 2024. Fourth quarter 2024 revenue of $1,018.4 million, up 10%, or up 7% organically. Fiscal year 2024 revenue of $3.9 billion, up 8%, or up 8% organically. Fourth quarter 2024 GAAP diluted earnings per share (EPS) of $0.58, up 38%. Fiscal 2024 GAAP diluted EPS of $1.96, up 33%. Fourth quarter 2024 non-GAAP diluted EPS of $1.04, up 19%. Fiscal 2024 non-GAAP diluted EPS of $3.69, up 15%. See "Reconciliation of Selected GAAP Results to Non-GAAP Results" below. Commenting on the results, Al White, Cooper's President and CEO said, "Fiscal 2024 was a great year for Cooper having achieved record consolidated revenues, including record CooperVision revenues, record CooperSurgical revenues and record non-GAAP EPS. We look forward to continued success in fiscal 2025 and thank all of our employees for driving these results." Fourth Quarter Operating Results Revenue of $1,018.4 million, up 10% from last year’s fourth quarter, up 9% in constant currency, up 7% organically. Gross margin of 67% compared with 65% in last year’s fourth quarter driven by price and efficiency gains. On a non-GAAP basis, gross margin was similar to last year at 67%. Operating margin of 19% compared with 15% in last year’s fourth quarter driven by SG&A expense leverage and stronger gross margins. On a non-GAAP basis, operating margin was 26%, up from 24% last year. Interest expense of $27.0 million compared with $26.3 million in last year's fourth quarter. On a non-GAAP basis, interest expense was $25.6 million, down from $26.4 million. Cash provided by operations of $268.1 million offset by capital expenditures of $139.9 million resulted in free cash flow of $128.2 million. Fourth Quarter CooperVision (CVI) Revenue Revenue of $676.4 million, up 9% from last year’s fourth quarter, up 8% in constant currency, up 8% organically. Revenue by category: Revenue by geography: Fourth Quarter CooperSurgical (CSI) Revenue Revenue of $342.0 million, up 12% from last year's fourth quarter, up 12% in constant currency, up 5% organically. Revenue by category: Fiscal Year 2024 Operating Results Revenue of $3,895.4 million, up 8% from fiscal 2023, up 9% in constant currency, up 8% organically. CVI revenue of $2,609.4 million, up 8% from fiscal 2023, up 8% in constant currency, up 9% organically, and CSI revenue $1,286.0 million, up 10% from fiscal 2023, up 11% in constant currency, up 5% organically. Gross margin of 67% compared with 66% in fiscal 2023. Non-GAAP gross margin was 67% compared with 66% in fiscal 2023. Operating margin of 18% compared with 15% in fiscal 2023. Non-GAAP operating margin was 25% compared with 24% in fiscal 2023. Cash provided by operations of $709.3 million offset by capital expenditures of $421.2 million resulted in free cash flow of $288.1 million. Fiscal Year 2025 Financial Guidance The Company initiated its fiscal year 2025 financial guidance. Details are summarized as follows: Fiscal 2025 total revenue of $4,080 - $4,158 million (organic growth of 6% to 8%) CVI revenue of $2,733 - $2,786 million (organic growth of 6.5% to 8.5%) CSI revenue of $1,347 - $1,372 million (organic growth of 4% to 6%) Fiscal 2025 non-GAAP diluted earnings per share of $3.92 - $4.02 Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets, and certain income or gains and charges or expenses including acquisition and integration costs which we may incur as part of our continuing operations. With respect to the Company’s guidance expectations, the Company has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measures. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, the Company is not able to provide such guidance. Reconciliation of Selected GAAP Results to Non-GAAP Results To supplement our financial results and guidance presented on a GAAP basis, we provide non-GAAP measures such as non-GAAP gross margin, non-GAAP operating margin, non-GAAP diluted earnings per share, as well as constant currency and organic revenue growth because we believe they are helpful for the investors to understand our consolidated operating results. Management uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, to make operating decisions, and to plan and forecast for future periods. The non-GAAP measures exclude costs which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. We provide further details of the non-GAAP adjustments made to arrive at our non-GAAP measures in the GAAP to non-GAAP reconciliations below. Our non-GAAP financial results and guidance are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. To present constant currency revenue growth, current period revenue for entities reporting in currencies other than the United States dollar are converted into United States dollars at the average foreign exchange rates for the corresponding period in the prior year. To present organic revenue growth, we excluded the effect of foreign currency fluctuations and the impact of any acquisitions, divestitures and discontinuations that occurred in the comparable period. We define the non-GAAP measure of free cash flow as cash provided by operating activities less capital expenditures. We believe free cash flow is useful for investors as an additional measure of liquidity because it represents cash that is available to grow the business, make strategic acquisitions, repay debt, or buyback common stock. Management uses free cash flow internally to understand, manage, make operating decisions and evaluate our business. In addition, we use free cash flow to help plan and forecast future periods. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. EPS, amounts and percentages may not sum or recalculate due to rounding. (1) Charges include the direct effects of acquisition accounting, such as amortization of inventory fair value step-up, professional services fees, regulatory fees and changes in fair value of contingent considerations, and items related to integrating acquired businesses, such as redundant personnel costs for transitional employees, other acquired employee related costs, and integration-related professional services, manufacturing integration costs, legal entity rationalization and other integration-related activities. The acquisition and integration-related charges in fiscal 2024 were primarily related to the Cook Medical acquisition and integration expenses. The acquisition and integration-related charges in fiscal 2023 were primarily related to the Generate acquisition and integration expenses. Charges included $2.9 million and $8.4 million related to redundant personnel costs for transitional employees, $0.7 million and $4.5 million of professional services fees, $1.4 million and $1.4 million of manufacturing integration costs, $1.5 million and 1.5 million of inventory fair value step-up amortization, and $0.7 million and $4.1 million of other acquisition and integration-related activities in the three and twelve months ended October 31, 2024, respectively. The twelve months ended October 31, 2024 also included $0.7 million regulatory fees. Charges included $7.5 million and $21.9 million related to redundant personnel costs for transitional employees, $6.5 million and $16.2 million of professional services fees, $2.9 million and $6.5 million of manufacturing integration costs, $3.1 million and $5.0 million of legal entity rationalization costs, $0.9 million and $2.7 million regulatory fees, and $0.6 million and $5.0 million in other acquisition and integration-related activities, in the three and twelve months ended October 31, 2023, respectively. (2) Charges include costs related to product line exits such as inventory write-offs, site closure costs, contract termination costs and specifically-identified long-lived asset write-offs. Charges included $2.3 million of write-offs of long-lived assets and $1.7 million of other costs related to product line exits in the twelve months October 31, 2024. No charge related to product line exits was incurred in the three months ended October 31, 2024. Charges included $3.4 million and $7.9 million of site closure costs related to the exit of the lens care business, $0.4 million and $1.1 million of other costs related to product line exits in the three and twelve months ended October 31, 2023, respectively. The fourth quarter of fiscal 2023 also included $9.8 million of intangible assets impairment charge associated with the discontinuation of certain products. (3) Charges represent incremental costs of complying with the new European Union (E.U.) medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be limited to a specific time period. (4) Charges represent the costs associated with initiatives to increase efficiencies across the organization and optimize our overall cost structure, including changes to our IT infrastructure and operations, employee severance costs, legal entity and other business reorganizations, write-offs or impairments of certain long-lived assets associated with the business optimization activities. Charges included $1.5 million and $10.6 million of employee severance costs, $1.0 million and $4.1 million related to changes to our IT infrastructure and operation, and $0.4 million and $2.9 million of legal entity and other business reorganizations costs, in the three and twelve months ended October 31, 2024, respectively. The twelve months ended October 31, 2024 also included $0.7 million of other optimization costs. Charges included $1.4 million and $11.3 million of employee severance costs, $1.4 million and $1.9 million of legal entity and other business reorganizations costs, and $0.3 million and $5.9 million related to changes to our IT infrastructure and operations, partially offset by $0.2 million and $0.4 million of other items in the three and twelve months ended October 31, 2023, respectively. (5) Amount represents an accrual for probable payment of a termination fee in connection with an asset purchase agreement in the second quarter of 2023, which was paid in August 2023. (6) Amount represents the release the contingent consideration liability associated with SightGlass Vision's regulatory approval milestone in the first quarter of 2023. (7) Charges include certain business disruptions from natural causes, litigation matters and other items that are not part of ordinary operations. The adjustments to arrive at non-GAAP net income also include gains and losses on minority interest investments and accretion of interest attributable to acquisition installment payables. Charges included $1.5 million and $5.9 million of gains and losses on minority interest investments, $1.4 million and $5.5 million of accretion of interest attributable to acquisition installments payable, $0.6 million and $1.5 million related to legal matters in the three and twelve months ended October 31, 2024, respectively. Charges included $1.6 million and $6.3 million of gains and losses on minority interest investments, and $1.3 million and $4.6 million related to legal matters in the three and twelve months ended October 31, 2023, respectively. The twelve months ended October 31, 2023 also included $1.1 million of other items. (8) In fiscal 2021, the Company transferred its CooperVision intellectual property and goodwill to its UK subsidiary. As a result, we recorded a deferred tax asset equal to approximately $2.0 billion as a one-time tax benefit in accordance with U.S. GAAP in fiscal 2021 as subsequently adjusted for changes in UK tax law. The non-GAAP adjustments reflect the ongoing net deferred tax benefit from tax amortization each period under UK tax law. Audio Webcast and Conference Call The Company will host an audio webcast today for the public, investors, analysts and news media to discuss its fourth quarter results and current corporate developments. The audio webcast will be broadcast live on CooperCompanies' website, www.investor.coopercos.com , at approximately 5:00 PM ET. It will also be available for replay on CooperCompanies' website, www.investor.coopercos.com . Alternatively, you can dial in to the conference call at 800-715-9871; conference ID 2026064. About CooperCompanies CooperCompanies (Nasdaq: COO) is a leading global medical device company focused on improving lives one person at a time. The Company operates through two business units, CooperVision and CooperSurgical. CooperVision is a trusted leader in the contact lens industry, improving the vision of millions of people every day. CooperSurgical is a leading fertility and women's health company dedicated to assisting women, babies and families at the healthcare moments that matter most. Headquartered in San Ramon, CA, CooperCompanies ("Cooper") has a workforce of more than 16,000 with products sold in over 130 countries. For more information, please visit www.coopercos.com. Forward-Looking Statements This earnings release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements of which are other than statements of historical fact, including our fiscal year 2025 financial guidance are forward looking. In addition, all statements regarding anticipated growth in our revenues, anticipated effects of any product recalls, anticipated market conditions, planned product launches, restructuring or business transition expectations, regulatory plans, and expected results of operations and integration of any acquisition are forward-looking. To identify these statements look for words like "believes," "outlook," "probable," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Among the factors that could cause our actual results and future actions to differ materially from those described in forward-looking statements are: adverse changes in the global or regional general business, political and economic conditions including the impact of continuing uncertainty and instability of certain countries, man-made or natural disasters and pandemic conditions, that could adversely affect our global markets, and the potential adverse economic impact and related uncertainty caused by these items; the impact of international conflicts and the global response to international conflicts on the global and local economy, financial markets, energy markets, currency rates and our ability to supply product to, or through, affected countries; our substantial and expanding international operations and the challenges of managing an organization spread throughout multiple countries and complying with a variety of legal, compliance and regulatory requirements; foreign currency exchange rate and interest rate fluctuations including the risk of fluctuations in the value of foreign currencies or interest rates that would decrease our net sales and earnings; our existing and future variable rate indebtedness and associated interest expense is impacted by rate increases, which could adversely affect our financial health or limit our ability to borrow additional funds; changes in tax laws, examinations by tax authorities, and changes in our geographic composition of income; acquisition-related adverse effects including the failure to successfully achieve the anticipated net sales, margins and earnings benefits of acquisitions, integration delays or costs and the requirement to record significant adjustments to the preliminary fair value of assets acquired and liabilities assumed within the measurement period, required regulatory approvals for an acquisition not being obtained or being delayed or subject to conditions that are not anticipated, adverse impacts of changes to accounting controls and reporting procedures, contingent liabilities or indemnification obligations, increased leverage and lack of access to available financing (including financing for the acquisition or refinancing of debt owed by us on a timely basis and on reasonable terms); compliance costs and potential liability in connection with U.S. and foreign laws and health care regulations pertaining to privacy and security of personal information such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and the California Consumer Privacy Act (CCPA) in the U.S. and the General Data Protection Regulation (GDPR) requirements in Europe, including but not limited to those resulting from data security breaches; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development, distribution facilities or raw material supply chain due to challenges associated with integration of acquisitions, man-made or natural disasters, pandemic conditions, cybersecurity incidents or other causes; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development or distribution facilities due to the failure to perform by third-party vendors, including cloud computing providers or other technological problems, including any related to our information systems maintenance, enhancements or new system deployments, integrations or upgrades; a successful cybersecurity attack which could interrupt or disrupt our information technology systems, or those of our third-party service providers, or cause the loss of confidential or protected data; market consolidation of large customers globally through mergers or acquisitions resulting in a larger proportion or concentration of our business being derived from fewer customers; disruptions in supplies of raw materials, particularly components used to manufacture our silicone hydrogel lenses; new U.S. and foreign government laws and regulations, and changes in existing laws, regulations and enforcement guidance, which affect areas of our operations including, but not limited to, those affecting the health care industry, including the contact lens industry specifically and the medical device or pharmaceutical industries generally, including but not limited to the EU Medical Devices Regulation (MDR), and the EU In Vitro Diagnostic Medical Devices Regulation (IVDR); legal costs, insurance expenses, settlement costs and the risk of an adverse decision, prohibitive injunction or settlement related to product liability, patent infringement, contractual disputes, or other litigation; limitations on sales following product introductions due to poor market acceptance; new competitors, product innovations or technologies, including but not limited to, technological advances by competitors, new products and patents attained by competitors, and competitors' expansion through acquisitions; reduced sales, loss of customers, reputational harm and costs and expenses, including from claims and litigation related to product recalls and warning letters; failure to receive, or delays in receiving, regulatory approvals or certifications for products; failure of our customers and end users to obtain adequate coverage and reimbursement from third-party payers for our products and services; the requirement to provide for a significant liability or to write off, or accelerate depreciation on, a significant asset, including goodwill, other intangible assets and idle manufacturing facilities and equipment; the success of our research and development activities and other start-up projects; dilution to earnings per share from acquisitions or issuing stock; impact and costs incurred from changes in accounting standards and policies; risks related to environmental laws and requirements applicable to our facilities, products or manufacturing processes, including evolving regulations regarding the use of hazardous substances or chemicals in our products; risks related to environmental, social and corporate governance (ESG) issues, including those related to regulatory and disclosure requirements, climate change and sustainability; and other events described in our Securities and Exchange Commission filings, including the “Business”, “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2024, as such Risk Factors may be updated in annual and quarterly filings. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law. Contact: Kim Duncan Vice President, Investor Relations and Risk Management 925-460-3663 ir@cooperco.com THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP Reconciliation Constant Currency Revenue Growth and Organic Revenue Growth Net SalesGalaxy aim to complete journey back to top in MLS Cup final
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