Cooper reports higher Q3 profit and sales
Pleasanton-based Cooper Cos. said its profit soared and revenue rose for the contact lens maker's third fiscal quarter that ended in July.
Cooper earned $66.9 million on sales of $378.2 million during the May-July period. Compared with the year-ago third quarter, profit jumped 51.4 percent while sales rose 7.6 percent.
"Our business continues to perform well and we remain optimistic about continuing to deliver strong results," Cooper CEO Robert Weiss said.
Two key units of the company posted strong gains. CooperVision generated $314.2 million in revenue, up 5 percent from the year before. CooperSurgical posted revenue of $64 million, up 20 percent.
Adept raises $8 million in private placement
Pleasanton-based Adept Technology has struck a deal for a private placement of its shares that is valued at $8 million.
Hale Capital Partners is buying the stake in Adept, a maker of industrial robots.
Adept also has the right to issue shares worth another $1.5 million.
The net proceeds of the private placement are expected by Adept for general corporate purposes, funding the growth of its mobile and packaging business, and possible debt reduction.
Chevron says it plans to stay in Brazil
San Ramon-based Chevron said it will not exit Brazil and
A court in Brazil had previously given Chevron until the end of August to halt operations in that country.
Chevron has three projects in Brazil, said Don Stelling, Chevron's chief of Latin American operations.