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TMS, INC. ANNOUNCES SECOND QUARTER RESULTS

 TMS, INC. ANNOUNCES SECOND QUARTER RESULTS
 STILLWATER, Okla., March 31 /PRNewswire/ -- TMS, Inc (OTC: 3TMSS)


today announced the following results:
 Net income for the second quarter of fiscal 1992 was $167,560 compared to $117,541 for the same period a year ago. Earnings per share for the quarter ended Feb. 29, 1992, were $.02 compared to $.01 for the same quarter last year. This increase in profitability is a result of the increase in licensing and royalties revenue and a reduction in operating expenses for the second quarter, according to Dr. J. Richard Phillips, president. Revenue for the second quarter was $729,805 compared to $761,513 for the same period a year ago. Phillips noted that the increase in the number of licensees and on-going royalties nearly offset the expected decrease in service revenue from a year earlier. Revenue for the six months ended Feb. 29, 1992, was $1,245,743, a drop of 16 percent from the $1,479,087 reported for the same period last year. This decrease reflects a 71 percent drop in service revenue and a 23 percent increase in licensing and royalties revenue. For the first six months of fiscal 1992 there was a loss of $25,020 compared to a net income of $192,578 for the first six months of fiscal 1991.
 Operating costs and expenses for the second quarter of fiscal 1992 were $550,859 compared to $637,123 for the second quarter of fiscal 1991, a drop of $86,264 or 14 percent. Operating costs and expenses for the second quarter reflect a reduction of $147,386 or 21 percent from the $698,245 amount reported for the first quarter of fiscal 1992. This reduction is the result of the cost reduction actions taken in November 1991. For the first six months ended Feb. 29, 1992, operating costs and expenses of $1,249,104 were slightly under the $1,265,373 reported for the first six months of fiscal 1991. "With the addition of new products, it is expected that marketing, selling and support expenses will increase as promotional materials are developed and distributed and as the opening of retail channels unfold," commented Phillips.
 During the second quarter, TMS launched its first retail product, a low cost electronic filing cabinet software product, called FastCab, designed for use in offices and work groups that need easy access to scanned-in documents from personal computers. "It is too early to estimate market acceptance, but the initial response to the ease of use and pricing of FastCab has been positive," stated Phillips.
 In addition to the new retail product, TMS markets proprietary software and services to businesses and governmental agencies for use in retrieving large volumes of textual and image information on personal computers.
 -0- 3/31/92
 /CONTACT: Dale May, vice president finance and administration of TMS, Inc., 405-377-0880/
 (3TMSS) CO: TMS, Inc. ST: Oklahoma IN: SU:


AH -- NY100 -- 3673 03/31/92 19:12 EST
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Date:Mar 31, 1992
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