Printer Friendly

TMS, INC. ANNOUNCES FIRST QUARTER PROFIT

 STILLWATER, Okla., Dec. 30 /PRNewswire/ -- TMS, Inc. reported net income of $84,901 for the first quarter ended Nov. 30, 1993 compared to net income of $96,215 for the first quarter of fiscal 1993. Earnings per share for both quarters was $.01.
 Revenue for the first quarter of fiscal 1994 was $822,192, up $196,625 when compared to revenue of $625,567 for the same period last year. Service revenue for the fiscal 1994 quarter was $197,332 compared to $115,349 for the fiscal 1993 quarter, an increase of 71 percent. Service revenue is expected to continue at a higher level than last year as the company expands in the document conversion service market.
 Licensing and royalties revenue for the quarter increased 22 percent to $624,860 from $510,218 a year ago. "TMS customers are shipping products into several new industry sectors, which is reflected in the 22 percent increase in licensing and royalties revenue for the first quarter of fiscal 1994," stated Maxwell Steinhardt, president of the company. Steinhardt continued, "Major alliance activities continued to expand in the first quarter as projects for the development of customer systems increased in scope and revenue generation. The company will continue to aggressively pursue service activities to broaden TMS's revenue base as well as seek new product applications in our targeted markets."
 Operating costs and expenses of $737,782 for the first quarter of fiscal 1994 increased 41 percent when compared to $522,760 reported for the first quarter of 1993. "Although expenses increased during the quarter, the company achieved a profit margin of 10 percent with increased revenue for the period," stated Steinhardt.
 TMS develops and distributes software toolkits and provides software development and document conversion and services to major companies and government organizations in the United States and internationally to assist in migrating from paper to electronic information systems. TMS is a public company and its common stock is traded in the over-the- counter market.
 -0- 12/30/93
 /CONTACT: Dale May, vice president, finance and administration, TMS, Inc., 405-377-0880/


CO: TMS, Inc. ST: Oklahoma IN: CPR SU: ERN

LG -- NY034 -- 8148 12/30/93 16:56 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 30, 1993
Words:362
Previous Article:LATEST SKIING CONDITIONS INFORMATION AS SUPPLIED BY SNO COUNTRY REPORTS
Next Article:CHICAGO STOCK EXCHANGE ANNOUNCES RECORD TRADE VOLUME
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters