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COOPER DEVELOPMENT REPORTS FISCAL 1991 YEAR END RESULTS

 COOPER DEVELOPMENT REPORTS FISCAL 1991 YEAR END RESULTS
 MOUNTAIN VIEW, Calif., Dec. 13 /PRNewswire/ -- Cooper Development Co. (NASDAQ: COOL) reported today that net sales for the fiscal year ended Oct. 31, 1991, increased to $16,302,000 from $11,536,000 in 1991 and that the operating loss for fiscal 1991 was reduced to $5,714,000 from $8,908,000 a year ago. The company also reported net income of $9,824,000 or $3.21 per share for fiscal 1991 compared with a net loss of $9,231,000 or $2.83 per share for the same period a year ago. Included in 1991 results is a net gain of $16,290,000 or $5.33 per share on the sale of the company's interest in a limited partnership with The Limited Inc.
 The company reported that net sales for the fourth quarter ended Oct. 31, 1991, increased to $5,646,000 from $2,689,000 for the prior year period and that the operating loss for the fourth quarter of fiscal 1991 was reduced to $1,873,000 from $2,081,000 in the same period a year ago. The company reported a net loss for the last three months of 1991 of $2,960,000 or $1.20 per share compared with a net loss of $2,282,000 or 70 cents per share for the same period a year ago. The operating results of Cabot Laboratories Inc., acquired on Aug. 1, 1991, are included from date of acquisition.
 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 Year Ended
 Oct. 31, Oct. 31,
 1991 1990 1991 1990
 Net sales $5,646 $2,689 $16,302 $11,536
 Cost of sales 2,602 1,716 7,471 5,616
 Gross Profit 3,044 973 8,831 5,920
 Research and development 122 208 524 884
 Selling, general & admin. 4,053 2,186 11,296 11,301
 Amortization of intangibles 742 660 2,725 2,643
 Operating loss (1,873) (2,081) (5,714) (8,908)
 Net gain on sale of
 limited partnership -- -- 18,340 --
 Equity in net loss of
 limited partnership -- -- -- (550)
 Loss on sale of TCC
 preferred stock -- -- -- (1,839)
 Dividend income on TCC
 preferred stock -- -- -- 653
 Interest income 168 174 583 383
 Other income (expense),
 net (1,187) (405) (1,272) (654)
 Income (loss) from
 operations before income
 taxes, minority interest
 and extraordinary item (2,892) (2,312) 11,937 (10,915)
 Provision for income tax
 benefit (expense) 282 (36) (6,938) 1,418
 Minority interest in net
 loss of Revo -- 66 45 266
 Income (loss) before
 extraordinary item (2,610) (2,282) 5,044 (9,231)
 Extraordinary item (350) -- 4,780 --
 Net income (loss) $(2,960) $(2,282) $9,824 $(9,231)
 Net income (loss) per share:
 Income (loss) before
 extraordinary item $ (1.06) $ (.70) $1.65 $(2.83)
 Extraordinary item (.14) -- 1.56 --
 Net income (loss) per
 share $ (1.20) $ (.70) $3.21 $(2.83)
 Weighted average number
 of shares outstanding
 during the period 2,466 3,258 3,058 3,258
 COOPER DEVELOPMENT COMPANY AND SUBSIDIARIES
 Consolidated Condensed Balance Sheets
 (In thousands)
 (Unaudited)
 Oct. 31,
 1991 1990
 ASSETS
 Current assets:
 Cash and cash equivalents $ 6,857 $ 5,107
 Restricted cash 1,027 1,493
 Other current assets 8,573 5,279
 Total current assets 16,457 11,879
 Intangible assets, net 11,757 8,177
 Other assets 1,523 1,651
 $ 29,737 $ 21,707
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Accrued expenses $ 5,616 $ 6,024
 Other current liabilities 3,344 2,537
 Total current liabilities 8,960 8,561
 Other long-term liabilities 8,732 6,187
 Total liabilities 17,692 14,748
 Stockholders' equity:
 Common stock 326 326
 Additional paid-in capital 66,557 66,557
 Foreign currency
 translation adjustments 469 654
 Accumulated deficit (50,645) (60,469)
 Cost of shares held in treasury (4,662) (53)
 Unrealized loss on
 marketable securities -- (56)
 Total stockholders' equity 12,045 6,959
 $29,737 $21,707
 -0- 12/13/91
 /CONTACT: Carol R. Kaufman of Cooper Development Co., 415-969-9030/
 (COOL) CO: Cooper Development Company ST: California IN: HEA SU: ERN


DG -- SJ002 -- 2617 12/13/91 20:54 EST
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Date:Dec 13, 1991
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