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T/SF COMMUNICATIONS ANNOUNCES NINE MONTH RESULTS

 T/SF COMMUNICATIONS ANNOUNCES NINE MONTH RESULTS
 TULSA, Okla., Nov. 14 /PRNewsire/ -- T/SF Communications Corp.


(AMEX: TCM) today announced a small loss for the third quarter of 1991. The company stated that it lost $70,000, or 1 cent per share, on revenues of $23,572,000 for the third quarter and $1,436,000, or 27 cents per share on revenues of $68,369,000 for the nine months ended Sept. 30, 1991. This compares to a loss of $408,000, or 7 cents per share, on revenues of $23,598,000, for the third quarter of 1990 and a loss of $844,000 or 15 cents per share, on revenues of $66,713,000 for the first nine months of 1990.
 G. Douglas Fox, chairman and chief executive officer of T/SF stated, "While the national recession continues to negatively impact revenues for all media companies and T/SF is not immune from this, the trend for the company is positive, with the third quarter being slightly better than the second quarter and both quarters being substantially improved over the first quarter of 1991. We also believe that it is important that the third quarter of 1991 is a significant improvement over the third quarter of 1990. This can be attributed primarily to our beginning to feel the positive effects of the cost-cutting and other actions begun in the fourth quarter of 1990. We believe that improvement on a quarter to quarter basis will continue."
 The primary reason for the company's loss in the third quarter was losses from its shopper operations in New Jersey and Long Island. However, both of these operations improved significantly over the third quarter of 1990. These gains were somewhat offset by reduced income from the company's two largest operations, The Tulsa Tribune, its daily newspaper in Tulsa, and BMT Publications, a trade magazine publisher located in New York.
 T/SF Communications is a diversified publisher of a daily newspaper, shopper-newspapers, trade magazines and specialty publications for conventions and operates an information service company providing information to the trucking and insurance industries.
 T/SF COMMUNICATIONS CORP.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (In thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1991 1990 1991 1990
 (Unaudited)
 Revenues:
 Publishing $ 19,785 $ 21,399 $ 58,696 $ 60,170
 Information services 2,798 2,122 7,859 5,945
 Interest and other
 operating income 989 77 1,814 598
 Total revenues 23,572 23,598 68,369 66,713
 Costs and Expenses:
 Publishing 14,369 15,290 42,469 42,960
 Information services 1,099 734 2,983 1,870
 General and
 administrative 6,282 5,903 18,720 16,589
 Interest 695 655 2,237 2,036
 Depreciation and
 amortization 1,220 1,322 3,673 3,860
 Total Costs and
 expenses 23,665 23,904 70,082 67,315
 Income (loss) before
 equity earnings and
 income taxes ( 93) ( 306) (1,713) ( 602)
 Earnings from equity
 investments 23 4 49 3
 Benefit (provision) for
 income taxes --- ( 106) 228 ( 245)
 Net income (loss) $( 70) $( 408) $( 1,436) $( 844)
 Per Share Amounts:
 Earnings (loss) per
 common and common
 equivalent share $( .01) $( .07) $( .27) $ (.15)
 Cash dividends per
 common share $ --- $ --- $ --- $ ---
 -0- 11/14/91
 /CONTACT: G. Douglas Fox or Howard G. Barnett, Jr. or J. Gary Mourton all of T/SF Communications Corp., 918-747-2600/
 (TCM) CO: T/SF Communications Corp. ST: Oklahoma IN: PUB SU: ERN DB -- SF015 -- 1203 11/14/91 16:55 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 14, 1991
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