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TSI ANNOUNCES HIGHER SECOND QUARTER EARNINGS

 TSI ANNOUNCES HIGHER SECOND QUARTER EARNINGS
 SHOREVIEW, Minn., Oct. 14 /PRNewswire/ -- TSI Incorporated


(NASDAQ-NMS: TSII), Shoreview, today reported increased sales and earnings for the second quarter and six-month periods ended Sept. 30, 1992.
 For the fiscal 1993 second quarter, sales rose 6 percent to $10.5 million from $9.9 million in the year-ago period. Net earnings totaled $665,000, or $.19 per share, more than double last year's $229,000, or $.06 per share.
 For the fiscal 1993 six months, sales reached $20.5 million, up 9 percent from $18.8 million a year earlier. Net earnings increased to $1.1 million, or $.32 per share, up strongly from $547,000, or $.15 per share.
 Dr. Leroy M. Fingerson, chairman and CEO stated, "We are pleased to report increased revenue and earnings for our second quarter and first half." Fingerson said that second quarter gross margins at 58.6 percent improved substantially from 55.6 percent last year. He added, "both revenue and earnings were strong in our industrial test instruments and particle research product lines. Our strong commitment to future growth through research and product development has continued with $2.9 million or 14 percent of sales invested in the first half.
 "Looking ahead," Fingerson stated, "TSI is historically a second- half company and we expect FY 93 to follow that pattern. However, we are concerned that order bookings have been below expectations in the last several months, which could hold back the third quarter, making the fourth quarter critical in achieving our objective of record revenues and earnings for fiscal 1993. Economic uncertainty worldwide makes forecasting unusually difficult."
 TSI is a recognized worldwide leader in providing measuring instruments for environmental monitoring and control, research applications, and industrial process control, emphasizing non-contact technology.
 TSI INCORPORATED
 SUMMARY CONSOLIDATED FINANCIAL DATA
 (In thousands, except per-share data)
 (Unaudited)
 Second Quarter Ended Six Months Ended
 9/30/92 9/30/91 9/30/92 9/30/91
 Income statement data:
 Net sales $10,508 $9,931 $20,498 $18,836
 Gross profit 6,153 5,524 11,825 10,654
 Research & product
 development ex. 1,416 1,487 2,906 2,911
 Selling expenses 2,924 2,735 5,632 5,314
 Administrative expenses 901 851 1,757 1,609
 Operating income 912 451 1,530 820
 Other income 80 138 160 281
 Earnings before income taxes 992 589 1,690 1,101
 Provision for income taxes 327 360 558 554
 Earnings before cumulative
 effect of accounting
 change 665 229 1,132 547
 Cumulative effect of
 accounting change -- -- -- 73
 Net earnings $665 $229 $1,132 $620
 Earnings per share:
 Net earnings before cumulative
 effect of accounting change $.19 $.06 $.32 $.15
 Accounting change -- -- -- .02
 Net earnings $.19 $.06 $.32 $.17
 Weighted average shares 3,563 3,718 3,538 3,721
 BALANCE SHEET DATA
 (In thousands)
 9/30/92 9/30/91
 Assets:
 Cash and investments $4,320 $3,921
 Total current assets 17,810 19,054
 Total assets 24,163 25,359
 Liabilities and equity:
 Total current liabilities 4,049 4,129
 Long-term liabilities 845 965
 Deferred income taxes 135 579
 Shareholders' equity 19,134 19,686
 -0- 10/14/92
 /CONTACT: Lowell D. Nystrom of TSI, 612-483-0900/
 (TSII) CO: TSI Incorporated ST: Minnesota IN: SU: ERN


KH -- MN021 -- 0065 10/14/92 16:35 EDT
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Date:Oct 14, 1992
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