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Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes officeBy Katheryn Houghton and Arielle Zionts, KFF Health News (TNS) Tescha Hawley learned that hospital bills from her son’s birth had been sent to debt collectors only when she checked her credit score while attending a home-buying class. The new mom’s plans to buy a house stalled. Hawley said she didn’t owe those thousands of dollars in debts. The federal government did. Hawley, a citizen of the Gros Ventre Tribe, lives on the Fort Belknap Indian Reservation in Montana. The Indian Health Service is a federal agency that provides free health care to Native Americans, but its services are limited by a chronic shortage of funding and staff. Hawley’s local Indian Health Service hospital wasn’t equipped to deliver babies. But she said staff there agreed that the agency would pay for her care at a privately owned hospital more than an hour away. That arrangement came through the Purchased/Referred Care program, which pays for services Native Americans can’t get through an agency-funded clinic or hospital. Federal law stresses that patients approved for the program aren’t responsible for any of the costs. But tribal leaders, health officials, and a new federal report say patients are routinely billed anyway as a result of backlogs or mistakes from the Indian Health Service, financial middlemen, hospitals, and clinics. The financial consequences for patients can last years. Those sent to collections can face damaged credit scores, which can prevent them from securing loans or require them to pay higher interest rates. The December report , by the federal Consumer Financial Protection Bureau, found these long-standing problems contribute to people in Native American-majority communities being nearly twice as likely to have medical debt in collections compared with the national average. And their amount of medical debt is significantly higher. The report found the program is often late to pay bills. In some cases, hospitals or collection agencies hound tribal citizens for more money after bills are paid. Hawley’s son was born in 2003. She had to wait another year to buy a home, as she struggled to pay off the debt. It took seven years for it to drop from her credit report. “I don’t think a person ever recovers from debt,” Hawley said. Hawley, a cancer survivor, still must navigate the referral program. In 2024 alone, she received two notices from clinics about overdue bills. Frank White Clay, chairman of the Crow Tribe in Montana, testified about the impact of wrongful billing during a U.S. House committee hearing in April. He shared stories of veterans rejected for home loans, elders whose Social Security benefits were reduced, and students denied college loans and federal aid. “Some of the most vulnerable people are being harassed daily by debt collectors,” White Clay said. No one is immune from the risk. A high-ranking Indian Health Service official learned during her job’s background check that her credit report contained referred-care debt, the federal report found. Native Americans face disproportionately high rates of poverty and disease , which researchers link to limited access to health care and the ongoing impact of racist federal policies . White Clay is among many who say problems with the referred-care program are an example of the U.S. government violating treaties that promised to provide for the health and welfare of tribes in return for their land. The chairman’s testimony came during a hearing on the Purchased and Referred Care Improvement Act, which would require the Indian Health Service to create a reimbursement process for patients who were wrongfully billed. Committee members approved the bill in November and sent it for consideration by the full House. A second federal bill, the Protecting Native Americans’ Credit Act , would prevent debt like Hawley’s from affecting patients’ credit scores. The bipartisan bill hadn’t had a hearing by mid-December. The exact number of people wrongfully billed isn’t clear, but the Indian Health Service has acknowledged it has work to do. The agency is developing a dashboard to help workers track referrals and to speed up bill processing, spokesperson Brendan White said. It’s also trying to hire more referred-care staff, to address vacancy rates of more than 30%. Officials say problems with the program also stem from outside health providers that don’t follow the rules. Melanie Egorin, an assistant secretary at the U.S. Department of Health and Human Services, said at the hearing that the proposed legislation doesn’t include consequences for “bad actors” — health facilities that repeatedly bill patients when they shouldn’t. “The lack of enforcement is definitely a challenge,” she said. But tribal leaders warned that penalties could backfire. Related Articles Health | Most medical debt can no longer hurt your credit score under new California law Health | How America lost control of the bird flu, setting the stage for another pandemic Health | How to kick back, relax and embrace a less-than-perfect holiday Health | New childhood leukemia protocol is ‘tremendous win’ Health | For some FSA dollars, it’s use it or lose it at year’s end White Clay told lawmakers that some clinics already refuse to see patients if the Indian Health Service hasn’t paid for their previous appointments. He’s worried the threat of penalties would lead to more refusals. If that happens, White Clay said, Crow tribal members who already travel hours to access specialty treatment would have to go even farther. The Consumer Financial Protection Bureau report found clinics are already refusing to see any referred-care patients due to the program’s payment problems. The bureau and the Indian Health Service also recently published a letter urging health care providers and debt collectors not to hold patients accountable for program-approved care. White, the Indian Health Service spokesperson, said the agency recently updated the referred-care forms sent to outside hospitals and clinics to include billing instructions and to stress that patients aren’t liable for any out-of-pocket costs. And he said the staff can help patients get reimbursed if they have already paid for services that were supposed to be covered. Joe Bryant, an Indian Health Service official who oversees efforts to improve the referral program, said patients can ask credit bureaus to remove debt from their reports if the agency should have covered their bills. Leaders with the Confederated Tribes of the Colville Reservation in Washington state helped shape the proposed legislation after their citizens were repeatedly harmed by wrongful billing. Tribal Chairman Jarred-Michael Erickson said problems began in 2017, when a regional Indian Health Service office took over the referred-care program from local staff. It “created a domino effect of negative outcomes,” Erickson wrote in a letter to Congress. He said some tribal members whose finances were damaged stopped using the Indian Health Service. Others avoided health care altogether. Responsibility for the Colville Reservation program transferred back to local staff in 2022. Staffers found the billing process hadn’t been completed for thousands of cases, worth an estimated $24 million in medical care, Erickson told lawmakers . Workers are making progress on the backlog and they have explained the rules to outside hospitals and clinics, Erickson said. But he said there are still cases of wrongful billing, such as a tribal member who was sent to collections after receiving a $17,000 bill for chemotherapy that the agency was supposed to pay for. Erickson said the tribe is in the process of taking over its health care facilities instead of having the Indian Health Service run them. He and others who work in Native American health said tribally managed units — which are still funded by the federal agency — tend to have fewer problems with their referred-care programs. For example, they have more oversight over staff and flexibility to create their own payment tracking systems. But some Native Americans oppose tribal management because they feel it releases the federal government from its obligations. Beyond wrongful billing, access to the referred-care program is limited because of underfunding from Congress. The $1 billion budget this year is $9 billion short of the need, according to a committee report by tribal health and government leaders. Donald Warne, a physician and member of the Oglala Sioux Tribe in South Dakota, called the proposed legislation a “band-aid.” He said the ultimate solution is for Congress to fully fund the Indian Health Service, which would reduce the need for the referred-care program. Back in Montana, Hawley said she braces for a fight each time she gets a bill that the referral program was supposed to cover. “I’ve learned not to trust the process,” Hawley said. ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.
Sportscaster Greg Gumbel dies from cancer at age 78
By HALELUYA HADERO, Associated Press President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by Jan. 19 while the government emphasized its position that the statute is needed to eliminate a national security risk. Related Articles “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the Court consider staying the Act’s deadline for divestment of January 19, 2025, while it considers the merits of this case,” said Trump’s amicus brief, which supported neither party in the case. The filings come ahead of oral arguments scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. Earlier this month, a panel of three federal judges on the U.S. Court of Appeals for the District of Columbia Circuit unanimously upheld the statute , leading TikTok to appeal the case to the Supreme Court. The brief from Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office.”ST. THOMAS, Virgin Islands (AP) — Javohn Garcia scored 16 points as McNeese beat Illinois State 76-68 on Friday. Garcia also contributed seven rebounds for the Cowboys (3-2). Brandon Murray shot 4 of 10 from the field and 5 for 7 from the line to add 13 points. Sincere Parker shot 4 for 8 (2 for 5 from 3-point range) and 3 of 4 from the free-throw line to finish with 13 points. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get any of our free email newsletters — news headlines, obituaries, sports, and more.
President-elect Donald Trump ‘s second term could provide for-profit prisons an economic and regulatory boon amid Trump’s plans to deport people living in the country illegally . Private Prisons: Corecivic Inc CXW and Geo Group Inc GEO are the two largest private prison operators in the United States. Geo Group owns 50 facilities and 64,502 beds across the U.S. concentrated in the South and Southwest. In 2023, CoreCivic operated 43 facilities with approximately 65,000 beds, according to company filings. The facilities include migrant detention centers and minimum-to-medium security prisons. Private prisons are a topic of debate given their for-profit nature and alleged human rights abuses. According to the University of Chicago Law School, labor conditions in private prisons are poor. The majority of prisoners are forced to work, often for wages under a dollar per hour, or face solitary confinement or loss of visitation rights. The report found that prisoners produce at least $2 billion annually in goods and over $9 billion in maintenance services. In August 2016, then-President Barack Obama announced a plan to reduce and eliminate the use of private prisons in the U.S. Following Trump’s inauguration for his first term in 2017, Attorney General Jeff Sessions rescinded Obama’s memorandum, saying the decision “impaired the Bureau’s ability to meet the future needs of the federal correctional system.” The stock prices of Geo and CoreCivic subsequently rallied over 30%. As of July 2024, there were 662,566 “noncitizens” with criminal histories on ICE's national docket, which includes those detained by ICE and on the agency's non-detained docket. Of those, 435,719 are convicted criminals and 226,847 have pending criminal charges. Trump’s Immigration Plan: Future immigration enforcement, an issue Trump made central to his 2016, 2020, and 2024 campaigns, would require detention centers, perhaps operated by Geo and CoreCivic. The ACLU found in 2023 that over 90% of migrants detained by ICE were held in privately owned facilities. In a CNN interview , Tom Homan , Trump’s incoming border czar, said the government needs a minimum of 100,000 beds to carry out Trump’s immigration plan. This represents a more than 100% increase over current capacity. He also elaborated on the extent to which Trump will carry out deportation. "I don't have a number. We want to arrest as many people as we can that are in the country illegally," Homan said. "If you're here illegally, you're not off the table. It's a violation of the law; it's a crime to enter this country illegally." The American Immigration Council, a pro-immigration advocacy group, says there were around 11 million people living in the U.S. illegally in 2022, roughly 3% of the country’s population. The council estimates that a deportation plan would cost at least $315 billion. Why it Matters: Geo Group and CoreCivic also appear to be preparing for the future demand for detention centers. On Dec. 16, Geo Group announced a $70 million capital expenditure plan to expand ICE service capabilities. In September, short-seller Andrew Left called Geo Group the “default play” for a Trump presidency given his positions on immigration enforcement. The market at large also seems convinced. Geo Group’s stock has risen over 86% since election day, while CoreCivic’s stock has risen over 58%. Also Read: El Erian Explains Why US Economy Is ‘Likely To Continue Outperforming Other Major Economies In 2025’ Photo via Shutterstock. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Saugus coach Michael Broderick was a winner
It’s been a tough year for the New York Jets, who have lost six of their last seven games and currently sit at 4-12 overall. But Sunday’s loss to the Buffalo Bills might have been the most humbling yet for quarterback Aaron Rodgers and company. Rodgers appeared to admit after the game that he requested a benching as the blowout was getting entirely out of hand. After the game, Aaron Rodgers was asked by the media what the conversations were like between him and interim head coach Jeff Ulbrich just before he exited the game. “I mean it was 33-0, we were sitting there and I said at some point we’ll probably go to Tyrod (Taylor) here, huh?” Rodgers revealed. “And then the next play they threw a screen for a touchdown, so it’s 40-0.” Aaron Rodgers revealed to the media that he instigated his own benching in the fourth quarter during a sideline conversation w/ #Jets interim HC Jeff Ulbrich. ‘I mean it was 33-0, we were sitting there & I said at some point probably go to Tyrod [Taylor] here, huh? Then the next... pic.twitter.com/otJGKK7kxe Aaron Rodgers was indeed benched, and his backup came in and played fairly well, though it mattered little. Taylor finished the contest 11-of-14 passing for 83 yards, with two touchdowns and no interceptions. Rodgers finished 12-of-18 with 112 yards and two interceptions. Suffice it to say, New York will have some decisions to make when it comes to Aaron Rodgers this offseason. Things simply haven’t panned out the way the franchise hoped when it signed the four-time league MVP ahead of the 2023 campaign. But as of now, nothing’s been decided on Rodgers or the Jets’ front. “I haven’t decided whether or not I want to play moving forward,” Aaron Rodgers said on The Pat McAfee Show . “They haven’t decided, or maybe they haven’t told me what their plans are moving forward. I’m guessing they’re going to, you know, want to get a GM in here in the next few weeks, and then obviously, let the GM be a part of making that coaching selection with who they want to go with if they haven’t made a decision. “I mean, I think there’s a world where they just say, hey, you know, thank you. We’re going to go in every direction on January 6th. ... And then that’s a possibility. I think there’s also a possibility we’re going to wait and see who the new staff is.” Whatever the case, Sunday was a tough look for Aaron Rodgers. This article first appeared on 5 GOATs and was syndicated with permission.Packers vs. Lions live score, updates, highlights from NFL 'Thursday Night Football' game | Sporting NewsToyota stock surges 9% after report says the carmaker aims to double profitability
Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday expressed deep sadness over the passing away of former Prime Minister Manmohan Singh. Singh, the architect of India’s economic reforms, died in Delhi on Thursday night. He was 92. Singh’s death was announced by the All India Institute of Medical Sciences, Delhi, where he was admitted in the Emergency ward around 8.30 PM in a critical condition. Terming the former PM as an intellectual statesman, the chief minister said Singh had embodied humility, wisdom and integrity. Deeply saddened by former Prime Minister and renowned economist, Shri Manmohan Singh Ji’s demise. An intellectual statesman, Dr Singh embodied humility, wisdom, and integrity. From his economic reforms in 1991 as Finance Minister to his leadership as Prime Minister, he served the... pic.twitter.com/PAhiHfozMD “Deeply saddened by former Prime Minister and renowned economist, Manmohan Singh Ji’s demise. An intellectual statesman, Dr Singh embodied humility, wisdom, and integrity,” said Naidu in a post on ‘X’. From his economic reforms in 1991 as Finance Minister to his leadership as Prime Minister, he served the nation tirelessly and uplifted millions, he said. Further, he observed that the passing of Singh is a great loss to the nation, offering condolences to the latter’s family, loved ones and admirers.Robert F. Kennedy Jr.’s false claims linking autism to childhood vaccinations are receiving new scrutiny now that President-elect Donald Trump has selected him to lead the Department of Health and Human Services, a sprawling agency with a budget of $1.7 trillion that oversees research into both autism and vaccines. The myth that autism is caused by childhood vaccines — proposed in 1998 by a British doctor who was later banned from practicing medicine in the United Kingdom — has been thoroughly debunked . Hundreds of studies have found vaccines to be safe . The World Health Organization estimates that over the past 50 years, immunizations have saved 154 million lives around the world. 24/7 San Diego news stream: Watch NBC 7 free wherever you are Kennedy, who espouses a number of health-related conspiracy theories , has pointed to vaccines to explain the substantial rise in autism diagnoses in recent decades, which have ballooned from an estimated 1 in 150 children in 2000 to 1 in 36 today. Research suggests that much of that increase is due to increasing awareness and screening for the condition; changing definitions of autism to include milder conditions on the spectrum that weren’t recognized in previous years; as well as advances in diagnostic technology. “For a very long time, the anti-vaccine movement has been exploiting families of autistic people, promoting a market for pseudo-scientific treatments that don’t provide the answers they’re looking for and that can expose autistic people to real harm,” said Ari Ne’eman, co-founder of the nonprofit Autistic Self Advocacy Network and an assistant professor of health policy and management at the Harvard T.H. Chan School of Public Health. “More discredited conspiracy theories linking autism and vaccines are not the answer.” Timothy Caulfield, research director at the University of Alberta’s Health Law Institute in Canada, who studies health misinformation, said that people often are more willing to believe conspiracy theories about conditions such as autism, whose causes are complex and not fully understood, than diseases with clear causes. People seem less inclined to speculate, for example, about alternative explanations for Down syndrome, which causes intellectual disabilities and has long been known to be caused by an extra copy of chromosome 21. U.S. & World Here's what to know about the new funding deal that countries agreed to at UN climate talks The week that upped the stakes of the Ukraine war “It’s really a shame because there are vulnerable families [of people with autism] who need our support,” said Judith Miller, a clinical psychologist and senior scientist and training director at the Center for Autism Research at Children’s Hospital of Philadelphia. “Every dollar and hour spent trying to debunk a conspiracy theory is a dollar and an hour lost that could have been spent trying to understand how to help families.” A complex condition Finding the causes of autism is complicated, because it’s not a single disorder, said Manish Arora, a professor of environmental medical and climate science at the Icahn School of Medicine at Mount Sinai in New York. “Autism is a spectrum, not a single narrow disease,” Arora said. “It’s many, many things under one umbrella.” Although people diagnosed with autism often have similar strengths and challenges, “there are many paths to autism and many presentations of autism,” Miller said. Scientists have found a variety of risk factors for autism — most of which exist before birth — but there is no single cause for a neurological and developmental condition that affects how people interact with others, communicate, learn and behave. A number of the traits sometimes seen in people with autism — such as being sensitive to loud noises, for example, or finding it difficult to interpret social cues — are also found in people who have not been diagnosed with autism. Doctors diagnose autism based on a person’s behavior, noting that there is no simple test for the condition, as there is for Covid or diabetes, said Arora, founder and CEO of a start-up company that researches biomarkers for autism and other neurological conditions. Finding the cause of an infectious disease — such as influenza, which is caused by the flu virus — is much more straightforward. While researchers continue to study the factors that influence the development of autistic traits, “the one thing we know doesn’t cause autism is vaccines,” said Catherine Lord, a psychologist and researcher at the Center for Autism Research and Treatment at the UCLA David Geffen School of Medicine. Genetic vulnerability Doctors have long known that genes play a large role in autism, simply by noting that autism can run in families. For example, in identical twins — who share all of their DNA — if one twin has autism, the other usually does, as well. In the case of fraternal twins — who share about half their DNA — if one fraternal twin has autism, the chance that the other will have autism ranges from 53% to 67%, according to an analysis of research studies. Scientists have identified more than 100 genes related to autism, Miller said, and genes are believed to play a role in 60% to 80% of cases. “The genetics of autism have never been better understood,” said Dr. Gregory Cejas, medical director of the Autism Clinical Center and Fragile X Clinic at the Washington University School of Medicine. “We’re making leaps and bounds about known genetic causes of autism.” Yet genes clearly don’t explain every case of autism. Autism is very different from conditions like sickle cell anemia or cystic fibrosis, which are caused by a single gene. Scientists believe that people develop autistic traits due to a combination of genetic vulnerability and environmental exposures, Lord said. “People have found many, many different genetic patterns associated with autism, but none of them are only associated with autism and none of them are always associated with autism,” Lord said. For example, fragile X syndrome — caused by a mutated gene on the X chromosome — is the most common known cause of autism. But only a fraction of children with the genetic mutation actually develop autism, Miller said. It’s possible that this mutation leaves some people more vulnerable to developing autistic characteristics, while others with the same mutations don’t develop autistic traits, because they are shielded by protective factors that have not yet been identified. Some people blamed the measles-mumps-rubella vaccine with autism because symptoms of the condition often occur at around 12 to 15 months of age, the same time toddlers get that immunization. But Miller notes that “most of the genetic conditions that affect our life and health aren’t apparent at birth. Symptoms or characteristics won’t show up until later, but the genetic code will have been with us the whole time.” Prenatal vulnerability Many of the known risk factors for autistic characteristics occur before birth or at the time of delivery, Arora said. Babies who experience complications at birth , such as their umbilical cord becoming wrapped around their neck, have a higher risk of autism. So do babies born prematurely , perhaps because of something that happened in the womb. Children are also slightly more likely to be diagnosed with autism if they have older fathers and possibly if they have older mothers, Miller said. It’s not clear if something in the biology of older parents causes a child to have a higher risk of autism, or if socioeconomic issues could play a role. It’s possible that older parents have better access to health care, making it more likely for their child to receive an autism diagnosis. A mother’s health influences her child’s autism risk in several ways, according to multiple studies: Children have a greater chance of being diagnosed with autism if their mothers were exposed to high levels of air pollution or developed a serious infection , such as the flu or pneumonia, while pregnant. While Ne’eman, of the Autistic Self Advocacy Network, said he’s not opposed to basic biological research on autism or its causes, he said those studies do little to help people with autism overcome the barriers they face in their everyday lives. He notes that only 8.4% of the $419 million spent on autism research in the United States is devoted to support and services for people with autism. “We need an autism research agenda,” he said, “that reflects the true priorities of autistic people and our families: supports across the lifespan and inclusion in the community.” This article first appeared on NBCNews.com . Read more from NBC News here: Hyundai announces recall of over 42,000 vehicles due to wiring issue that can cause them to roll away How ‘Wicked’ the movie compares to ‘Wicked’ the musical Matthew Perry recalls 'scary' confrontation with Jennifer Aniston: 'She was the one'In a decisive move, U.S. President-elect Donald Trump has selected former Senator David Perdue to serve as ambassador to China. Perdue, with a background in business, is anticipated to navigate the longstanding trade tensions and mistrust characterizing U.S.-China relations. Announcing the appointment via his social media platform, Trump highlighted the critical role Perdue will play in maintaining peace and fostering productive communications with Chinese leaders. As he prepares for his term, commencing January 20, 2025, Trump has expressed intent to impose a 10% tariff on Chinese goods unless China acts to curb fentanyl trafficking. Perdue's nomination reflects a traditional approach of assigning political figures to the Beijing embassy, deviating from incumbent President Joe Biden's preference for career diplomats. Trump's hardline strategy is further evidenced by appointing Senator Marco Rubio for Secretary of State, hinting at a broader policy that transcends trade issues. (With inputs from agencies.)
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 Sales
CHICAGO (AP) — The Seattle Seahawks placed running back Kenneth Walker III on injured reserve prior to their game against the Chicago Bears on Thursday because of an ankle injury. Walker hurt his ankle in last week's loss to Minnesota and left that game after sitting out the previous two because of a calf problem. He also missed two weeks in September with an oblique issue. Walker has run for 573 yards and seven touchdowns on 153 carries. A second-round draft pick by Seattle in 2022, he has 2,528 yards rushing and 24 TDs in his career. Walker could, in theory, return if the Seahawks win two playoff games, though their postseason hopes were slim entering the game against Chicago. Seattle (8-7) trailed the NFC West-leading Los Angeles Rams (9-6) by one game with two to play. The Seahawks' best path to the postseason was to win the final two regular-season games and have Los Angeles lose to Arizona on Saturday. Seattle visits the Rams to close the regular season. With Walker out, Seattle signed rookie running back George Holani off the practice squad. ___ AP NFL: https://apnews.com/hub/NFL
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NoneThere are "a number of defects" in the new tennis courts at Beaton Park, according to Wollongong City Council. Subscribe now for unlimited access . Login or signup to continue reading The council announced the upgrade of the tennis centre in June 2024 , which would see the 14 existing courts replaced with the same number, including eight International Tennis Federation-standard acrylic hard courts. A council spokesperson said the first stage of the work was almost completed, with six new courts planned to be ready for use in January. However, there has been issues with the blue courts, which make up the second stage of the revamp. "The project has not been without its challenges, including the need to identify the source of and rectify a number of defects affecting a number of the new courts," the spokesperson said. "That work is ongoing and is expected to be done in time for the completion of Stage 1B and reopening of the centre in autumn 2025." The Mercury understands those defects relate to water seeping in under the courts' surface and creating bubbles as it evaporates. The second stage of the project also includes the completion of the car park and other temporary facilities to allow people to continue to use the Beaton Park centre until the overall project is complete. "The project is the culmination of years of planning to deliver a world-class multi-sports precinct at Beaton Park and provide significant tennis facilities for the Illawarra region," the spokesperson said. "As one of NSW's major regional tennis venues, Wollongong is expected to draw international, national and state level competitors to the city in the future and carry on the region's proud association hosting significant tennis events. "The venue will also continue to provide a full range of local and district offerings supporting recreational and competitive play opportunities, tennis coaching, school programs, casual court hire and [a] community programming focus." There is a second stage outlined in the Beaton Park master plan that includes upgraded player facilities and a pro shop. This stage is not yet under contruction. I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading. I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading. More from Latest News Newsletters & Alerts DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Get the latest property and development news here. WEEKLY Find out what's happening in local business. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!It’s become commonplace for presidents and politicians to consort with musicians, but that was not the case in the Seventies, when the two worlds barely collided. Starting with his run for governor of Georgia in the Sixties and continuing through his presidential campaign the following decade, Jimmy Carter proudly and openly associated with rock-era musicians. Aretha Franklin and Paul Simon played at his inauguration in 1977, and not surprisingly, he was friendly with the leading Southern rock bands of the time (some of whom came from his own home state). Carter also tapped into the financial clout of rock & roll: When fans bought tickets to Carter benefits that featured the Allman Brothers Band, the Marshall Tucker Band, and others, his campaign was able to claim the sales amounted to small donations (and thereby matched federal funds). In a previously unpublished interview conducted in February 2023, just over a year before he died , former Allmans singer-guitarist-songwriter Dickey Betts talked with RS about his memories of Carter. Carter died on Sunday, Dec. 29, at the age of 100. He was quite a guide to us. When he was running for governor [in 1966], he ran against Lester Maddox, who was the biggest bigot in the country. We were embarrassed to say we were from Georgia. When Jimmy became governor [in 1970], he totally changed the attitude in Georgia. All of a sudden, Georgia became the Peach State again. Jimmy had a unique way. He was friends with our manager, Phil Walden, and Phil told us about him. He came by the studio a few times. That’s where we met him. He was listening to recordings we were doing for Brothers and Sisters . He showed up and had a good time with us and we had dinner together. We weren’t used to that sort of thing at all, but we thought, “This guy’s all right.” He probably had his favorite songs but he never brought it up. He did say he liked “Ramblin’ Man.” He said it was a real working-man’s song. Editor’s picks The 100 Best TV Episodes of All Time The 250 Greatest Guitarists of All Time The 500 Greatest Albums of All Time The 200 Greatest Singers of All Time We became close to him, and he asked us if we’d help with his campaign [with benefit concerts]. We’d met governors and things like that, but they never really included us. Jimmy was a friend to rock music, so a lot of the guys helped him out a great deal. At the time, the government said it would match money you raised on your own [for a campaign]. He didn’t take money from the Allman Brothers. The [fans who bought tickets] knew the show was going to a good cause. I’ve got a letter on the wall here that says, “Thanks for your advice.” [ Laughs ] It makes me really proud to have Jimmy Carter write a letter like that to me. He was a very nice and intelligent man. He took the trouble to go to Gregg [Allman]’s funeral. And he really cared for the American people. You can see that the way he did more after he was president than while he was in office, with Habitat for Humanity and the work he did that helped the American people out quite a bit. People don’t realize how great and meaningful somebody is until they pass away. I don’t know much about politics, but he said, “If I set a good example, everyone would do good.” It ain’t that way at all in Washington. They’re vicious people. Bill Clinton followed his model, but he could fight back and outsmart ‘em. I remember going to a jazz concert at the White House [1978]. Of course, I got there and I left my damn ID at home. The Marines said, “Oh, go ahead in.” They knew me very well and knew I wasn’t going to do any harm. Jimmy was walking around the premises and someone said, “Go over and talk to him,” but I didn’t want to bother him. Then I went to use the men’s room in the White House, and as I was coming out, I ran into Jimmy with a group of people and he said, “Ladies and gentlemen, this is Dickey Betts, one of the best songwriters around nowadays.” That just floored me.
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