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Process to replace Matt Gaetz could cut into House GOP's narrow majorityBy HEATHER HOLLINGSWORTH, Associated Press For Makenzie Gilkison, spelling is such a struggle that a word like rhinoceros might come out as “rineanswsaurs” or sarcastic as “srkastik.” The 14-year-old from suburban Indianapolis can sound out words, but her dyslexia makes the process so draining that she often struggles with comprehension. “I just assumed I was stupid,” she recalled of her early grade school years. But assistive technology powered by artificial intelligence has helped her keep up with classmates. Last year, Makenzie was named to the National Junior Honor Society. She credits a customized AI-powered chatbot, a word prediction program and other tools that can read for her. “I would have just probably given up if I didn’t have them,” she said. Artificial intelligence holds the promise of helping countless other students with a range of visual, speech, language and hearing impairments to execute tasks that come easily to others. Schools everywhere have been wrestling with how and where to incorporate AI , but many are fast-tracking applications for students with disabilities. Getting the latest technology into the hands of students with disabilities is a priority for the U.S. Education Department, which has told schools they must consider whether students need tools like text-to-speech and alternative communication devices. New rules from the Department of Justice also will require schools and other government entities to make apps and online content accessible to those with disabilities. There is concern about how to ensure students using it — including those with disabilities — are still learning. Students can use artificial intelligence to summarize jumbled thoughts into an outline, summarize complicated passages, or even translate Shakespeare into common English. And computer-generated voices that can read passages for visually impaired and dyslexic students are becoming less robotic and more natural. “I’m seeing that a lot of students are kind of exploring on their own, almost feeling like they’ve found a cheat code in a video game,” said Alexis Reid, an educational therapist in the Boston area who works with students with learning disabilities. But in her view, it is far from cheating : “We’re meeting students where they are.” Ben Snyder, a 14-year-old freshman from Larchmont, New York, who was recently diagnosed with a learning disability, has been increasingly using AI to help with homework. “Sometimes in math, my teachers will explain a problem to me, but it just makes absolutely no sense,” he said. “So if I plug that problem into AI, it’ll give me multiple different ways of explaining how to do that.” He likes a program called Question AI. Earlier in the day, he asked the program to help him write an outline for a book report — a task he completed in 15 minutes that otherwise would have taken him an hour and a half because of his struggles with writing and organization. But he does think using AI to write the whole report crosses a line. “That’s just cheating,” Ben said. Schools have been trying to balance the technology’s benefits against the risk that it will do too much. If a special education plan sets reading growth as a goal, the student needs to improve that skill. AI can’t do it for them, said Mary Lawson, general counsel at the Council of the Great City Schools. But the technology can help level the playing field for students with disabilities, said Paul Sanft, director of a Minnesota-based center where families can try out different assistive technology tools and borrow devices. “There are definitely going to be people who use some of these tools in nefarious ways. That’s always going to happen,” Sanft said. “But I don’t think that’s the biggest concern with people with disabilities, who are just trying to do something that they couldn’t do before.” Another risk is that AI will track students into less rigorous courses of study. And, because it is so good at identifying patterns , AI might be able to figure out a student has a disability. Having that disclosed by AI and not the student or their family could create ethical dilemmas, said Luis Pérez, the disability and digital inclusion lead at CAST, formerly the Center for Applied Specialized Technology. Schools are using the technology to help students who struggle academically, even if they do not qualify for special education services. In Iowa, a new law requires students deemed not proficient — about a quarter of them — to get an individualized reading plan. As part of that effort, the state’s education department spent $3 million on an AI-driven personalized tutoring program. When students struggle, a digital avatar intervenes. More AI tools are coming soon. The U.S. National Science Foundation is funding AI research and development. One firm is developing tools to help children with speech and language difficulties. Called the National AI Institute for Exceptional Education, it is headquartered at the University of Buffalo, which did pioneering work on handwriting recognition that helped the U.S. Postal Service save hundreds of millions of dollars by automating processing. “We are able to solve the postal application with very high accuracy. When it comes to children’s handwriting, we fail very badly,” said Venu Govindaraju, the director of the institute. He sees it as an area that needs more work, along with speech-to-text technology, which isn’t as good at understanding children’s voices, particularly if there is a speech impediment. Sorting through the sheer number of programs developed by education technology companies can be a time-consuming challenge for schools. Richard Culatta, CEO of the International Society for Technology in Education, said the nonprofit launched an effort this fall to make it easier for districts to vet what they are buying and ensure it is accessible. Related Articles Makenzie wishes some of the tools were easier to use. Sometimes a feature will inexplicably be turned off, and she will be without it for a week while the tech team investigates. The challenges can be so cumbersome that some students resist the technology entirely. But Makenzie’s mother, Nadine Gilkison, who works as a technology integration supervisor at Franklin Township Community School Corporation in Indiana, said she sees more promise than downside. In September, her district rolled out chatbots to help special education students in high school. She said teachers, who sometimes struggled to provide students the help they needed, became emotional when they heard about the program. Until now, students were reliant on someone to help them, unable to move ahead on their own. “Now we don’t need to wait anymore,” she said. The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.None
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LONDON (AP) — Arsenal moved up to second place in the Premier League with a 1-0 home win against Ipswich on Friday. Mikel Arteta’s side is six points behind leader Liverpool, which has a game in hand. Second-bottom Ipswich had won two of its last three away games but was up against it from the start at the Emirates. The visitors did not have one touch in the Gunners’ box during the first 45 minutes and, although Ipswich showed signs of life after the break, it was Arsenal which continued to dominate the game, marshaled by Declan Rice in midfield. Kai Havertz got the only goal midway through the first half when he knocked in a cross from Leandro Trossard. Havertz, Rice, Mikel Merino, Martin Odegaard and Gabriel Jesus all had chances but none of them could add to Arsenal’s tally. “It’s so tough, every team is tough to break down," Havertz said. "They fight for each other and at the end we’re very proud for the win.” Arsenal is a point above third-place Chelsea and two points clear of season surprise team Nottingham Forest in fourth. Brighton had most of the chances but could not find the net in a 0-0 draw with Brentford that extended the south coast club’s winless run to six league games. It was a frustrating night for the home side and especially Julio Enciso. The Paraguay striker had a host of opportunities to score but couldn’t make them count. Along with Southampton, Brentford has the worst away record in the league with seven losses and two draws and it was easy to see why in this toothless performance. Brentford had an early goal from Yoane Wissa ruled out for offside and, although it came a bit more into the game in the second half, it failed to pressure Icelandic goalkeeper Hakon Valdimarsson, who made his Premier League debut eight minutes before halftime when Mark Flekken went off with a thigh injury. One bright spot for the home side was the return of winger Solly March. He came on as a late substitute to make his first appearance for Brighton since injuring a knee against Manchester City 14 months ago. The result leaves Brighton in 10th place with 26 points, one spot and two points ahead of the Bees. AP soccer: https://apnews.com/hub/soccerNone
B.C. aims to hang onto 'Hollywood north' title by boosting film and TV tax incentivesFREMONT, Calif.--(BUSINESS WIRE)--Dec 12, 2024-- Trinasolar US, a global leader in smart solar products and solutions, today announces that the United States International Trade Commission (ITC) has voted to institute an investigation as to Trina’s patent infringement complaint against a number of Canadian Solar, Inc. entities (“Canadian Solar”). Having considered Trina’s complaint, filed on October 23, 2024, the U.S. government ordered an investigation of whether Canadian Solar is in violation of Section 337 of the Tariff Act of 1930. In particular, the investigation will examine whether Canadian Solar infringed Trina’s TOPCon (Tunnel Oxide Passivated Contact) solar cell technology patents. Trina has requested that the ITC issue a Limited Exclusion Order to bar importation and Cease and Desist Orders to bar further sales and marketing in the United States, of solar cells, modules, panels and components that infringe Trina’s patents. “Trina appreciates the ITC’s decision to investigate the unauthorized use of our patented technology,” said Steven Zhu, president of Trinasolar US. “We are pleased our patent infringement complaint is being taken seriously, and we look forward to the final determination by the ITC.” The U.S. ITC Notice of Institution of Investigation can be found here: https://www.federalregister.gov/documents/2024/12/09/2024-28832/certain-topcon-solar-cells-modules-panels-components-thereof-and-products-containing-same-ii-notice In addition to this action at the ITC, Trinasolar has filed a separate patent infringement suit relating to TOPCon technology pending against Canadian Solar in the District of Delaware. Trinasolar is also seeking injunctive relief in a separate ITC investigation as to patent infringement of TOPCon technology that was instituted on November 5, 2024, against a number of Runergy and Adani entities. About Trinasolar Trinasolar was founded in 1997. As a leading global provider of photovoltaic (PV) modules and smart energy solutions, Trinasolar delivers PV products, applications, and services to promote sustainable development for the benefit of all humanity. By the end of June 2024, Trinasolar has shipped more than 225GW of modules. Trinasolar has obtained extensive technical and brand recognition from renowned independent institutes worldwide, demonstrating the PV market's strong confidence in Trina’s product value, technological innovation, and financial performance. It has scored 100% in the BNEF Bankability Survey 7 years in a row, has won “Overall Highest Achiever” by RETC for 4 consecutive years, was awarded the highest ranking, AAA, 5 times in a row in the PVTech Bankability Ratings report, and has been awarded “Top Performer” by PVEL for 10 consecutive years. Trinasolar’s global business footprint has delivered clean energy to more than 170 countries and regions. With its mission of “Solar energy for all,” Trinasolar is committed to working with others to create a net-zero future. For more information, please visit www.trinasolar.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241212392600/en/ CONTACT: Media Contact TrinaUS@teamsilverline.comLegal Contact Legal.americas@trinasolar.com KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY MANUFACTURING OTHER NATURAL RESOURCES OTHER ENERGY OTHER TECHNOLOGY NATURAL RESOURCES OTHER MANUFACTURING GREEN TECHNOLOGY ALTERNATIVE ENERGY ENVIRONMENT ENERGY SOURCE: Trinasolar Copyright Business Wire 2024. PUB: 12/12/2024 02:56 PM/DISC: 12/12/2024 02:56 PM http://www.businesswire.com/news/home/20241212392600/enFor filmmakers with points to make about good versus evil (and not necessarily subtle ones), World War II would seem a safe space. Take the shortened life of anti-Nazi German theologian Dietrich Bonhoeffer, a voice against intolerance who worked to save Jews, who may have aided people trying to kill Hitler and who was executed by the crumbling Third Reich in its final days. There’s righteousness there that’s hard to ignore, and it’s made Bonhoeffer, the author of dozens of books before his death, a figure of admiration and a martyr to many. But writer-director Todd Komarnicki’s aggressively lionizing, faith-driven movie about Bonhoeffer seems uninterested in any complexity about pacifism and violence coexisting in one man. Instead, it presents him as a steadfast superhero for justice, no less in the full title itself, which adds the descriptors usually saved for a summer-blockbuster tagline: “Bonhoeffer: Pastor. Spy. Assassin.” The poster, too, ups the action ante, giving this blond, bespectacled Lutheran thinker (played by Jonas Dassler) a conspicuous handgun and the air of someone all too ready to use it. First, though, the movie hustles us through some early-years mythologizing: childhood in a loving family, losing an older brother to World War I, and some time in New York in 1930 as a seminary student, learning about American racism from no less than the Rev. Adam Clayton Powell (an authoritative Clarke Peters). It’s also not enough that this eager white ally is the one to get punched by a spitting bigot — the first of the movie’s curious choices in depicting who experiences violence — but he’s also called on stage at a jazz club to jam with the band. So make that “Pastor. Spy. Assassin. Has Black Friends.” Back in Germany, though, the rise of the Nazis is what sets Bonhoeffer on his Christian resistance path, disturbed by the country’s sudden fealty to a false god stoking “rumor and rage.” He calls out sympathizing clergy (one of them looks like Max Shreck of the original “Nosferatu”), rails against Hitler from the pulpit and takes to teaching seminarians in a hideaway before deciding to do more dangerous work, like sneaking into Britain to muster clandestine support from priests. Some of the movie’s hand-wringing conversations — about politics poisoning the church, dividing people, fostering lies and hypocrisy — sound timely and will strike a chord. But label the movie’s politics at your peril, because it comes from conservative Christian outfit Angel Studios (the “Sound of Freedom” distributor). Bonhoeffer’s own legacy has lately been usurped by outspoken Christian nationalists, enough so that his own descendants have come out to decry anyone distorting his life and words as anything but a peace-loving man of God. What to make, then, of a movie that puts Bonhoeffer in the room with assassination plotters or asking British clergy to smuggle in explosives? It’s disputed history, for one thing, which means it unnecessarily slathers genre suspense on an already overwrought, cookie-cutter and ideologically ultra-confident biography. What’s missing are the character nuances that speak to hard times under a divided church, and how that affected Bonhoeffer the man and a citizen, not just the servant of God. Every awkwardly declarative, stagy scene in “Bonhoeffer” is just a right-against-wrong equation to be answered by the title character’s virtue. And while one scene does have him meeting a handful of Jews he’s helping, the only camp victim ever shown from arrest to imprisonment to suffering to death is you-know-who. No matter how historically significant the subject is, that kind of framing will only ever be queasy.
Europe's native oyster ecosystems have 'collapsed,' scientists sayIn December 1999, the world prepared for the impending global meltdown known as Y2K. It all stemmed from a seemingly small software glitch: Many older computer programs had coded dates using only two numbers for the year. At midnight on Dec. 31, a misinterpretation of "00" in the year 2000 might cause widespread errors leading to mass panic. The Clinton administration said that preparing the U.S. for Y2K was probably "the single largest technology management challenge in history." The bug threatened a cascade of potential disruptions — blackouts, medical equipment failures, banks shutting down, travel screeching to a halt — if the systems and software that helped keep society functioning no longer knew what year it was. These fears gave rise to another anxiety-inducing acronym: TEOTWAWKI — "the end of the world as we know it." Thankfully, the so-called "year 2000 problem" didn't live up to the hype. NPR covered Y2K preparations for several years leading up to the new millennium. Here's a snapshot of how people coped, as told to NPR Network reporters. Infrastructure systems braced for the worst Computer specialist and grassroots organizer Paloma O'Riley compared the scale and urgency of Y2K prep to telling somebody to change out a rivet on the Golden Gate Bridge. Changing out just one rivet is simple, but "if you suddenly tell this person he now has to change out all the rivets on the bridge and he has only 24 hours to do it in — that's a problem," O'Riley told reporter Jason Beaubien in 1998. So, why wasn't U.S. infrastructure ready in the first place? Stephanie Moore, then a senior analyst with Giga Information Group, told NPR it stemmed from a data-efficiency measure in the expensive early days of computers: formatting years using two digits instead of four, with most computers interpreting "00" as the year 1900. "Now, when we roll over to the year 2000, computers — instead of thinking it's 2001 — are going to think it's 1901," Moore said, adding Y2K would have been avoidable "had we used four-digit year dates all along." The date switchover rattled a swath of vital tech, including Wall Street trading systems, power plants and tools used in air traffic control. The Federal Aviation Administration put its systems through stress tests and mock scenarios as 2000 drew closer. "Twenty-three million lines of code in the air traffic control system did seem a little more daunting, I will say, than I had probably anticipated," FAA Administrator Jane Garvey told NPR in 1998. Ultimately there were no systemwide aviation breakdowns, but airlines were put on a Y2K alert. The crunch to safeguard these systems was a reminder that the technology underpinning people's daily lives was interdependent and constantly evolving. "People forget that the infrastructure for the Industrial Revolution took between 300 and 500 years to put in place," University of Washington engineering professor Mark Haselkorn said at the time. "And we're about 50 years into putting the infrastructure in place for the Information Age. So, it's not surprising we've got some problems." People prepared to "bug out" A mobile home; a year's supply of dehydrated food; a propane generator — those were just some of the precautionary purchases California computer programmer Scott Olmstead made in advance of 2000. (He also said he was shopping for a handgun.) If Y2K sparked a food shortage, or an electric grid failure, or even a crime spike, Olmstead told NPR he would be ready: "Whatever it is, if we want to 'bug out,' as the programmers say, we can do it. We've got a place to go." He added that he might take his money out of the bank and convert it into gold, silver and cash. While concerned citizens pondered a panic-proof wealth strategy, Brian Roby, vice president of First National Bank of Olathe, Kan., told NPR his institution would be ready to welcome customers on New Year's Day rather than take the holiday off. "We thought about it and we said, 'Hey, if we're ready, we're ready. Let's prove it. Let's be the first to be open,' " Roby said. "And we're just going to open up like it's any other normal Saturday." Some financial analysts remained skeptical Y2K would come and go with minimal disruption. But by November 1999 the Federal Reserve said it was confident the U.S. economy would weather the big switch. "Federal banking agencies have been visited and inspected. Every bank in the United States, which includes probably 9,000 to 10,000 institutions, over 99% received a satisfactory rating," Fed Board Governor Edward Kelley said at the time. Neighbors banded together Dozens of communities across the U.S. formed Y2K preparedness groups to stave off unnecessary panic. Kathy Garcia, an organizer with the Y2K Community Project in Boulder, Colo., said fears of a societal meltdown offered an opportunity to take stock. "How do we help each other out — not when a disaster hits, but beforehand?" Garcia told NPR's Margot Adler in 1999. Her project set up shop in a Boulder mall storefront, offering Y2K educational videos and exhibits on food storage. Local resident Richard Dash stopped by, urging people to consider their neighbors — not just themselves. "Do you want to be the only house with lights, and the only house with the smell of food coming from it? Do you want to really turn yourself into a bunker?" he said. Dash added he hoped nothing would come of Y2K besides a renewed feeling he could count on his community in an emergency, and it could count on him, too. Instead of conserving their extra food, he said, people could come together and share it. "We'll all have a picnic," he said. "We'll give extra food to FoodShare, and nobody's going to be hungry for a while. And that'll be just terrific." Squashing the Y2K bug In the end, the worst fears lay in anticipation. Besides a few minor setbacks like an internet slowdown and reports of malfunctioning clocks, the aggressive planning and recalibration paid off. Humanity passed into the year 2000 without pandemonium. "I'm pleasantly surprised," John Koskinen, chair of the President's Council on Year 2000 Conversion, told NPR's Weekend Edition on Jan. 1, 2000. "We expected that we would see more difficulties early on, particularly around the world." People like Jack Pentes of Charlotte, N.C., were left to figure out what to do with their emergency stockpiles. Pentes had filled 50 large soda bottles with tap water. "I used a half a dozen in the washing machine," he told NPR. "I can't bear to just pour it out and throw it away. There are too many people in the world that can't get any decent water." Food writer Michael Stern meanwhile offered a chili recipe for people with leftover canned food — namely, Spam. "One of its charms is that it doesn't decompose," Stern said. "No matter how long you cook it, it will always retain its identity as Spam." Others couldn't quite shake the instinct to plan ahead. Alfred Lubrano, an essayist for The Philadelphia Inquirer , wrote a letter included in a time capsule to be opened for "Y3K" — the year 3000. Lubrano's letter, which he read on NPR, ended with a question for whoever might find it in the next millennium. "We're human, same as you — flawed like you, decent like you," Lubrano wrote. "We have not yet figured out this world, this life. Have you?" Original reporting by NPR's Jason Beaubien, Ira Flatow, Steve Inskeep, Mary Ann Akers, Jack Speer, Larry Abramson, Margot Adler and Bob Edwards.
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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 SalesBeatles Movies Finds Its George Harrison
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