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COOPER DEVELOPMENT REPORTS FISCAL 1993 FIRST-QUARTER RESULTS; INITIATES RIGHTS OFFERING

 MOUNTAIN VIEW, Calif., March 17 /PRNewswire/ -- Cooper Development Co. (NASDAQ: COOL) reported today that net sales for the three months ended Jan. 31, 1993, increased to $6,133,000 from $5,504,000 in the same period a year ago. The company reported a net loss for the first quarter ended Jan. 31, 1993, of $2,023,000, or 84 cents per share, compared with a net loss of $2,330,000, or 96 cents per share, for the same period a year ago.
 The company also reported that it has received clearance from the Securities and Exchange Commission to proceed with its previously announced plan to issue at no cost to the holders of its common stock of record on Feb. 16, 1993, rights to subscribe to additional shares of common stock, up to an aggregate total of 1,209,792 common shares. The company noted that a prospectus describing the offering would be mailed to stockholders next week.
 Cooper Development Co. develops healthcare products businesses, including Revo sunglasses (Revo Inc.) and Cabot skin care products (Cabot Laboratories Inc.).
 COOPER DEVELOPMENT CO. AND SUBSIDIARIES
 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
 (Unaudited, in thousands, except per-share figures)
 Three Months
 Ended Jan. 31: 1993 1992
 Net sales $ 6,133 $ 5,504
 Cost of sales 2,784 2,504
 Gross profit 3,349 3,000
 Research and development
 expenses 260 241
 Selling, general and
 administrative expenses 5,097 4,198
 Amortization of intangible
 assets 327 933
 Operating loss (2,335) (2,372)
 Interest income 23 76
 Interest expense (41) (12)
 Other income (expense), net 347 (5)
 Loss from operations before
 income taxes (2,006) (2,313)
 Provision for income tax
 expense (17) (17)
 Net loss $(2,023) $(2,330)
 Net loss per share $ (0.84) $ (0.96)
 Weighted average number of
 shares outstanding during
 the period 2,420 2,420
 COOPER DEVELOPMENT CO.
 CONSOLIDATED CONDENSED BALANCE SHEETS
 (Unaudited, dollars in thousands)
 Jan. 31, Oct. 31,
 1993 1992
 ASSETS
 Current assets:
 Cash and cash equivalents $ 1,293 $ 1,111
 Restricted cash 686 766
 Accounts receivable, net 4,074 5,676
 Other receivables 610 1,682
 Inventories 6,602 5,590
 Prepaid expenses 678 534
 Total current assets 13,943 15,359
 Property, plant and
 equipment, net 1,734 1,513
 Intangible assets, net 1,326 1,577
 Excess cost over net assets
 acquired 5,859 5,935
 Other assets 193 197
 Total $23,055 $24,581
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Notes payable $ 2,623 $ 1,150
 Accounts payable 3,755 4,051
 Accrued expenses 5,016 5,472
 Total current liabilities 11,394 10,673
 Other long-term liabilities 7,419 7,517
 Total liabilities 18,813 18,190
 Stockholders' equity:
 Common stock, 10 cents par
 value per share 326 326
 Additional paid-in capital 66,557 66,557
 Foreign currency translation
 adjustments 358 484
 Accumulated deficit (58,337) (56,314)
 Cost of shares held in
 treasury (4,662) (4,662)
 Total stockholders' equity 4,242 6,391
 Total $23,055 $24,581
 -0- 3/17/93
 /CONTACT: Carol R. Kaufman of Cooper Development, 415-969-9030/
 (COOL)


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

GT-LM -- SJ003 -- 6887 03/17/93 08:55 EST
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Date:Mar 17, 1993
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