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COOPER DEVELOPMENT REPORTS FIRST QUARTER RESULTS

 COOPER DEVELOPMENT REPORTS FIRST QUARTER RESULTS
 MOUNTAIN VIEW, Calif., March 16 /PRNewswire/ -- Cooper Development


Co. (NASDAQ: COOL) reported today that net sales for the first quarter ended Jan. 31, 1992, were $5,504,000 compared with $2,779,000 in the same period a year ago. The company reported a net loss for the first quarter ended Jan. 31, 1992, of $2,330,000 or $.96 per share compared with a net loss of $1,517,000 or $.47 per share for the same quarter a year ago.
 The company's net sales for the three months ended Jan. 31, 1992, increased $2,725,000 from the three months ended Jan. 31, 1991, primarily due to the higher volume of sunglass sales and the inclusion of revenues from Cabot Laboratories Inc. which was purchased in August 1991 ($2,333,000).
 Gross profit on net sales was $3,000,000 or 55 percent for the three months ended Jan. 31, 1992, versus 51 percent for the comparable period in 1991. The change in the gross margin reflects the combined effect of improved margins in the sunglass operations and the inclusion of Cabot whose skin care products generally have a higher margin.
 The $96,000 increase in research and development expense is primarily due to research associated with skin care.
 Amortization of intangible assets was $933,000 for the three months ended Jan. 31, 1992, compared to $662,000 for the three months ended Jan. 31, 1991. The increase of $271,000 is primarily due to a change in the amortization rate for certain intangible assets made during the quarter ended Jan. 31, 1992. The effect of this change was to increase amortization of intangible assets by $194,000 (or $.08 per share). The increase is also due to the amortization of intangible assets related to Cabot.
 Selling, general and administrative expenses increased $2,023,000 over the prior year primarily due to higher advertising and promotion costs and the inclusion of selling, general and administrative costs for Cabot.
 At Jan. 31, 1992, current assets exceeded current liabilities by $5,481,000. Cash required by operations was $1,316,000 for the three months ended Jan. 31, 1992, and although the company expects a continuing deficiency in cash generated from operations, current cash should be adequate for operating needs and to fund liabilities and commitments.
 Cooper Development Co. develops healthcare products businesses.
 COOPER DEVELOPMENT CO. AND SUBSIDIARIES
 Consolidated Condensed Statements of Operations
 (In thousands, except per share figures)
 (Unaudited)
 Three Months Ended
 Jan. 31,
 1992 1991
 Net sales $5,504 $2,779
 Cost of sales 2,504 1,364
 Gross profit 3,000 1,415
 Research and development 241 145
 Selling, general and
 administrative 4,198 2,175
 Amortization of intangibles 933 662
 Operating loss (2,372) (1,567)
 Other income (expense), net 59 19
 Loss from operations before
 income taxes (2,313) (1,548)
 Provision for income tax
 expense (17) (14)
 Minority interest in net loss
 of Revo -- 45
 Net loss $(2,330) $(1,517)
 Net loss per share $(.96) $(.47)
 Weighted average number of
 shares outstanding during the
 period 2,420 3,258
 COOPER DEVELOPMENT CO. AND SUBSIDIARIES
 Consolidated Condensed Balance Sheets
 (In Thousands)
 (Unaudited)
 Jan. 31, Oct. 31,
 1992 1991
 ASSETS
 Current Assets:
 Cash and cash equivalents $ 4,512 $ 6,857
 Restricted cash 989 1,027
 Other current assets 8,350 8,573
 Total current assets 13,851 16,457
 Intangible assets, net 10,824 11,757
 Other assets 1,951 1,523
 Total assets $ 26,626 $ 29,737
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Accrued expenses $ 5,222 $ 5,616
 Other current liabilities 3,148 3,344
 Total current liabilities 8,370 8,960
 Other long-term liabilities 8,451 8,732
 Total liabilities 16,821 17,692
 Stockholders' equity:
 Common stock 326 326
 Additional paid-in capital 66,557 66,557
 Foreign currency translation
 adjustments 559 469
 Accumulated deficit (52,975) (50,645)
 Cost of shares held in treasury (4,662) (4,662)
 Total stockholders' equity 9,805 12,045
 Total liabilities and
 stockholders' equity $ 26,626 $ 29,737
 -0- 3/16/92
 /CONTACT: Carol R. Kaufman of Cooper Development Co., 415-969-9030/
 (COOL) CO: Cooper Development Co. ST: California IN: HEA SU: ERN


RM -- SJ007 -- 8511 03/16/92 17:30 EST
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Date:Mar 16, 1992
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