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THE COOPER COMPANIES REPORTS IMPROVED FIRST QUARTER RESULTS

 THE COOPER COMPANIES REPORTS IMPROVED FIRST QUARTER RESULTS
 NEW YORK, March 9 /PRNewswire/ -- The Cooper Companies, Inc. (NYSE: COO), today reported improved financial results for the first quarter of fiscal 1992.
 For the three months ended Jan. 31, 1992, the company reported net income applicable to common stock of $125,000 on net sales of $10.7 million, compared with a net loss applicable to common stock of $5.8 million or $.23 per share on net sales of $7.3 million in the first quarter of the previous fiscal year.
 The company's 47 percent growth in net sales and 10 percent reduction in operating expenses contributed significantly to the more favorable per share results. However, approximately one-half of that improvement was attributed to gains on investments and the gain from the company's sale of its soft intraocular lens technology license to Johnson & Johnson's IOLab subsidiary.
 Co-Chairmen Gary A. Singer and Bruce D. Sturman commented, in a jointly released statement, "Continuing operations are beginning to reflect the benefits of several decisions made previously, including establishing our surgical products business, restructuring our contact lens business, and developing new products. Notwithstanding this progress, completing Cooper's turnaround and building new shareholder value can best be accomplished by acquiring cash positive, growth- oriented companies."
 Financial Highlights
 Cooper's improved interim results include higher net sales from both CooperSurgical, Inc. and CooperVision, Inc., as well as corresponding changes in product mix and reduced operating expenses. Net sales from CooperSurgical accounted for 35 percent of consolidated net sales, compared to 16 percent in the first quarter of 1991, while net sales from CooperVision represented 65 percent of consolidated net sales compared to 84 percent in the comparable period.
 CooperSurgical Performance
 CooperSurgical's net sales more than tripled in the 1992 first quarter to $3.8 million, compared to sales of $1.2 million reported for the comparable 1991 period.
 Sales growth is due primarily to market acceptance of CooperSurgical's new LEEP System 6000(TM) and other products granted FDA market clearance during the second half of fiscal 1991, and to inclusion of sales from Euro-Med, Inc., the surgical instrument catalog business acquired in January 1991.
 John R. Lyon, president of CooperSurgical, indicated that during the recent quarter progress was recorded in developing new hysteroscopy and other gynecology products planned for introduction later this fiscal year and in establishing ENDOMED, a division dedicated exclusively to developing, manufacturing and marketing minimally invasive surgical products for the laparoscopic market.
 CooperVision Performance
 CooperVision, the company's oldest business segment, reported that net sales increased 15 percent to $7.0 million from $6.1 million and that operating expenses were reduced 34 percent in the 1992 first quarter compared to those of the comparable 1991 period.
 A. Thomas Bender, president of CooperVision, noted that although the U.S. contact lens market remains soft, new marketing initiatives and operating efficiencies have combined to generate greater net sales. He added that Permaflex(R) and Permalens(R), CooperVision's leading extended wear lens products, are maintaining market share despite industry trends toward low-margin commodity products in general, and toward heavily advertised frequent replacement products in particular. Vantage(R), the company's daily wear lens, recorded higher sales.
 Bender also noted that CooperVision Pharmaceuticals, Inc. reported beginning Phase II trials to test the initial efficacy of Verapamil as an anti-glaucoma compound, and introducing an EYEscrub(TM) line extension, EYEscrub Premoistened Pads.
 THE COOPER COMPANIES, INC. AND SUBSIDIARIES
 Statement of Consolidated Operations
 (In thousands, except per share figures)
 Three months ended Jan. 31 1992 1991
 Net sales $10,743 $ 7,317
 Cost of sales 4,667 2,983
 Gross profit 6,076 4,334
 Operating expenses 9,702 10,772
 Amortization of intangibles 257 180
 Investment income, net 5,457 3,271
 Gain on sale of assets and businesses, net 1,013 --
 Other income, net 33 154
 Interest expense 1,420 1,982
 Income (loss) before income taxes 1,200 (5,175)
 Provision for income taxes 751 75
 Income (loss) before extraordinary items 449 (5,250)
 Extraordinary items 306 --
 Net income (loss) 755 (5,250)
 Less preferred stock dividends 630 561
 Net income (loss) applicable to common stock 125 (5,811)
 Net income (loss) per common share:
 Income (loss) before extraordinary items (0.01) (0.23)
 Extraordinary items 0.01 --
 Net income (loss) per common share 0.00 (0.23)
 Average number of common shares outstg. 25,884 25,743
 THE COOPER COMPANIES, INC., AND SUBSIDIARIES
 Consolidated Condensed Balance Sheet
 (In thousands)
 1/31/92 10/31/91
 ASSETS
 Current assets:
 Cash and cash equivalents $ 58,173 $ 76,652
 Restricted cash 9,243 9,585
 Marketable securities 75,266 58,028
 Trade and other receivables, net 29,516 17,313
 Inventories 9,220 10,906
 Other current assets 1,906 1,373
 Total current assets 183,324 173,857
 Property, plant and equipment, net 5,139 3,593
 Intangibles, net 4,514 8,843
 Other assets 1,135 1,340
 Total $194,112 $187,633
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Short-term debt $ 442 $ 1,131
 Other current liabilities 56,448 50,542
 Total current liabilities 56,890 51,673
 Long-term debt:
 10-5/8 percent convertible subordinated
 reset debentures due 2005 48,386 48,012
 Other, less current installments 707 645
 Total 49,093 48,657
 Other non-current liabilities 15,804 15,601
 Total liabilities 121,787 115,931
 Stockholders' equity:
 Senior exchangeable redeemable restricted
 voting preferred stock, $.10 par value 61 60
 Preferred stock, $.10 par value -- --
 Common stock, $.10 par value 2,569 2,569
 Additional paid-in capital 182,566 182,567
 Accumulated deficit (109,365) (110,120)
 Translation adjustments 58 202

 Unamortized restricted stock award
 compensation (3,564) (3,576)
 Total stockholders' equity 72,325 71,702
 Total $194,112 $187,633
 -0- 3/9/92
 /NOTE TO EDITORS: Healthcare subsidiaries of the Cooper Companies, Inc., are CooperSurgical, Inc., CooperVision, Inc., and CooperVision Pharmaceuticals, Inc./
 /CONTACT: Richard Jay Coyle of Cooper Companies, 212-557-2690/
 (COO) CO: The Cooper Companies, Inc. ST: New York IN: HEA SU: ERN


GK-OS -- NY013 -- 6258 03/09/92 09:34 EST
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