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COOPERS & LYBRAND ANNOUNCES 1992 FINANCIAL RESULTS; WORLDWIDE REVENUES UP 7.4 PERCENT TO $5.3 BILLION

 COOPERS & LYBRAND ANNOUNCES 1992 FINANCIAL RESULTS;
 WORLDWIDE REVENUES UP 7.4 PERCENT TO $5.3 BILLION
 NEW YORK, Nov. 11 /PRNewswire/ -- Coopers & Lybrand Chairman Eugene M. Freedman today announced that the firm's worldwide revenues for its 1992 fiscal year, which ended Sept. 30, grew by 7.4 percent to $5.3 billion and that its U.S. revenues rose 6.3 percent to more than $1.57 billion. Accounting and auditing showed the greatest gain, increasing by 8 percent over 1991.
 "We are pleased with our growth in revenues and the addition of major new clients, despite the sluggish economy," Freedman said in announcing the figures. He also said, "Our firm is enthusiastic about our new strategic direction. We are in the process of creating real change for the firm, which will result in stronger client relationships, a leaner organization and increased market penetration."
 In August the firm unveiled a new strategic direction, the result of a nearly year-long planning process, designed to establish Coopers & Lybrand as a market leader among professional services firms by setting the standard for market focus, client service and people development.
 "Coopers & Lybrand has emerged from 1992 as a stronger, more focused, better capitalized firm; re-energized about our mission and direction," Freedman added. "My partners and I are committed to outstanding client service and relationships and to growing our business."
 Freedman also said that while partner distributions were somewhat impacted by provisions for the effects of litigation, all other U.S. key measurements, including firm operating profits, client hours and rate per hour, increased over the previous year and that the firm's balance sheet is even stronger than it was at the end of last year.
 One of the world's leading professional services firms, Coopers & Lybrand provides services for enterprises in a wide range of industries. The firm offers its clients the expertise of more than 16,000 professionals and staff in 91 U.S. offices and more than 67,000 people in 121 countries worldwide.
 -0- 11/11/92
 /CONTACT: David L. Nestor of Coopers & Lybrand, 212-536-2965/ CO: Coopers & Lybrand ST: New York IN: SU: ERN


AH-WB -- NY079 -- 9886 11/11/92 16:51 EST
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Publication:PR Newswire
Date:Nov 11, 1992
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