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COOPER DEVELOPMENT REPORTS FISCAL 1992 YEAR-END RESULTS; FILES RIGHTS OFFERING

 MOUNTAIN VIEW, Calif., Jan. 14 /PRNewswire/ -- Cooper Development Co. (NASDAQ: COOL) reported today that net sales for the year ended Oct. 31, 1992, increased to $32,010,000 from $16,302,000 in the same period a year ago and that the operating loss for fiscal 1992 was $5,685,000 compared with $5,714,000 a year ago. The company also reported a net loss of $5,669,000, or $2.34 per share for fiscal 1992 compared with net income of $9,824,000, or $3.21 per share (including a net gain of $16,290,000, or $5.33 per share on the sale of the company's investment in a joint venture) for the same period a year ago.
 The company reported that net sales for the three months ended Oct. 31, 1992, increased to $8,210,000 from $5,646,000 in the same period a year ago and that the operating loss for the fourth quarter of fiscal 1992 decreased to $1,259,000 from $1,873,000 in the same period a year ago. The company also reported a decrease in net loss for the last three months of 1992 to $1,228,000, or 51 cents per share from a net loss of $2,960,000, or $1.20 per share for the same period a year ago.
 The operating results of Cabot Laboratories Inc., the company's skin care products business acquired on Aug. 1, 1991, are included from the date of acquisition.
 The company disclosed that it has filed a registration statement with the Securities and Exchange Commission in relation to its previously announced plan to issue at no cost to the holders of its common stock of record on Dec. 14, 1992, rights to subscribe to additional shares of common stock, up to an aggregate total of 1,209,792 common shares. The company anticipates that a prospectus describing the offering will be mailed to stockholders before the end of January.
 Cooper Development Co. develops healthcare products businesses, including Revo(R) sunglasses and Cabot(R) skin care products.
 COOPER DEVELOPMENT CO. AND SUBSIDIARIES
 Consolidated Condensed Statements of Operations
 (Unaudited, in thousands, except per share figures)
 Three Months Year Ended
 Ended Oct. 31: 1992 1991 1992 1991
 Net sales $ 8,210 $ 5,646 $32,010 $16,302
 Cost of sales 3,699 2,602 14,262 7,471
 Gross profit 4,511 3,044 17,748 8,831
 Research and
 development 149 122 866 524
 Selling, general and
 administrative 4,716 4,053 18,838 11,296
 Amortization of
 intangibles 905 742 3,729 2,725
 Operating loss (1,259) (1,873) (5,685) (5,714)
 Net gain on sale
 of limited
 partnership --- --- --- 18,340
 Interest income 50 168 238 583
 Other income (expense),
 net (2) (1,187) (136) (1,272)
 Income (loss) from
 operations before
 income taxes, minority
 interest and
 extraordinary
 item (1,211) (2,892) (5,583) (11,937)
 Provision for
 income tax benefit
 (expense) (17) 697 (86) (6,523)
 Minority interest in
 net loss of Revo --- --- --- 45
 Income (loss) before
 extraordinary
 item (1,228) (2,195) (5,669) 5,459
 Extraordinary
 item --- (765) --- 4,365
 Net income (loss) $(1,228) $(2,960) $(5,669) $ 9,824
 Net income (loss)
 per share:
 Income (loss) before
 extraordinary
 item $ (0.51) $ (0.89) $(2.34) $ 1.79
 Extraordinary
 item --- (0.31) --- 1.42
 Net income (loss)
 per share $ (0.51) $ (1.20) $(2.34) $ 3.21
 Weighted average
 number of shares
 outstanding during
 the period 2,420 2,466 2,420 3,058
 Consolidated Condensed Balance Sheets
 (Unaudited, in thousands)
 Oct. 31
 1992 1991
 ASSETS
 Current Assets:
 Cash and cash equivalents $ 1,111 $ 6,857
 Restricted cash 766 1,027
 Other current assets 13,482 8,573
 Total current assets 15,359 16,457
 Intangible assets, net 7,512 11,757
 Other assets 1,710 1,523
 Total assets $24,581 $29,737
 LIABILITES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Accrued expenses $ 5,472 $ 5,616
 Other current liabilities 5,201 3,344
 Total current liabilities 10,673 8,960
 Other long-term liabilities 7,517 8,732
 Total liabilities 18,190 17,692
 Stockholders' equity:
 Common stock 326 326
 Additional paid-in capital 66,557 66,557
 Foreign currency translation
 adjustments 484 469
 Accumulated deficit (56,314) (50,645)
 Cost of shares held in
 treasury (4,662) (4,662)
 Total stockholders' equity 6,391 12,045
 Total liabilities & equity $24,581 $29,737
 -0- 1/14/93
 /CONTACT: Carol R. Kaufman of Cooper Development, 415-969-9030/
 (COOL)


CO: Cooper Development Co. ST: California IN: SU: ERN

GT-SG -- SJ001 -- 4972 01/14/93 14:47 EST
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Date:Jan 14, 1993
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