Regarding first quarter financial results, consolidated revenues were $787 million, with CooperVision at $561 million, up 11%, and CooperSurgical reaching a new all-time high of $226 million, up 30%.
Non-GAAP earnings per share were $3.24.
Our CooperVision growth of 14% was strong and diversified.
We grew nicely in all product categories, spheres, torics and multifocals, and all three regions posted great results, with the Americas up 8%, EMEA up 17% and Asia Pac up 19%.
Regarding products, our daily silicone hydrogel lenses, MyDay, and clariti, posted strong results, growing 25%.
For our FRPs, we reported another solid quarter of 10% growth for Avaira and Biofinity, our silicone hydrogel two-week and monthly lenses.
We posted revenues of $20 million.
And within this, MiSight grew 172%.
Our team in China is strong, and our advisory board of key opinion leaders that are affiliated with hospitals representing over 50% of myopia management contact lens volume in China has us positioned for success in a market where childhood myopia rates are estimated to be over 80%, and we're reducing myopia as a priority for the government.
It cuts myopia progression by roughly 59% on average.
To conclude on myopia management, our momentum is strong, and we're still targeting roughly $100 million in sales for this fiscal year.
To wrap up on CooperVision, for calendar Q4, we estimate the global contact lens market grew 10%, with CooperVision growing 16%.
This demand is great, but it's still impacting fit activities such as in the U.S. where new fits are still roughly 8% below pre-COVID levels.
Meanwhile, long-term macro growth trends remain intact with roughly one-third of the world being myopic today and that's expected to increase to 50% by 2050.
In the meantime, we had another strong quarter with organic growth of 9%.
We recognized roughly $34 million of revenues in the quarter as this was a stub period with only roughly one and a half months of revenue.
Of this, $23 million was in stem cell storage and $11 million in fertility.
It's tough to get exact growth rates for a stub period, but growth for the business for the full equivalent fiscal quarter was 10%.
We posted sales of $97 million, up a very healthy 27% when excluding Generate and the small acquisition of Embryo Options from last January.
Within our office and surgical unit, we posted sales of $129 million, up 24% as reported, but down 3% when excluding Generate and other acquisitions.
Having said that, we did see growth in many areas such as our laparoscopic surgery closure products, and our acquired businesses grew nicely, especially Fetal Pillow in our labor and delivery area, which grew 160%.
This industry continues to grow nicely, and we estimate our addressable market is approaching $2 billion with 5% to 10% long-term annual growth.
It's estimated that one in eight couples has trouble getting pregnant due to a variety of factors such as increasing maternal age and that more than 100 million individuals worldwide suffer from infertility.
First quarter consolidated revenues were $787 million, up 16% and up 13% organically.
Consolidated gross margin decreased year over year by 90 basis points to 66.9%, driven primarily by currency, but also lower sales of PARAGARD, partially offset by lower manufacturing costs at CooperVision.
Operating expenses grew 19% to 42.3% of revenues with the addition of Generate and higher investment activity.
Consolidated operating margins were 24.6%, down from 26.9% last year due to the negative impact of FX and higher investing.
Interest expense was $6.6 million on higher average debt, partially offset by lower interest rates.
The effective tax rate was 13.3%, higher primarily due to the Generate acquisition.
Non-GAAP earnings per share was $3.24 with roughly 49.9 million average shares outstanding.
FX negatively impacted us by $0.37 in the quarter, which was $0.02 worse than we forecasted at the time of our last earnings call.
Free cash flow was solid at $109 million, comprised of $166 million of operating cash flow, offset by $57 million of capex.
Net debt decreased by $1.6 billion to $3 billion, driven by the acquisition of Generate.
And our adjusted leverage ratio increased to 2.71 times.
During the quarter, we repurchased roughly 191,200 shares of the company's common stock for $78.5 million at an average purchase price of $410.41 per share, that's $410.41.
Roughly $256 million remains authorized for repurchase under our program.
Prior to the Russian invasion of Ukraine, this would have meant the midpoint for earnings per share would have been roughly $14.35, but currency has moved significantly against us over the past week.
With this, the new consolidated revenue range is $3.261 billion to $3.329 billion, up 6.5% to 8.5% organically.
Within this, CooperVision revenue guidance is $2.221 billion to $2.264 billion, up 7% to 9% organically.
CooperSurgical revenues are expected to be between $1.04 billion and $1.065 billion, up 35% to 38% as reported or 5% to 7% organically.
Non-GAAP earnings per share is expected to be in the range of $13.70 to $14.20.
We estimate interest expense around $42 million, which assumes a 25-basis-point rate increase, remembering that $1 billion of our debt is fixed -- is at fixed rates.
We estimate the full year tax rate to be around 14%.
Regarding currency, on a year-over-year basis, the negative FX headwind is now roughly 3.5% to revenues and roughly 10% negative impact to EPS.
Regarding Cook, we announced this acquisition on February 7 for $875 million.
From a financial perspective, this business had roughly $158 million in sales in calendar 2021, and we expect long-term growth in the range of 5% to 9%.
Additionally, we expect year one non-GAAP earnings per share accretion of roughly $0.60.

Summary:
Non-GAAP earnings per share were $3.24.
First quarter consolidated revenues were $787 million, up 16% and up 13% organically.
Non-GAAP earnings per share was $3.24 with roughly 49.9 million average shares outstanding.
Non-GAAP earnings per share is expected to be in the range of $13.70 to $14.20.