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T/SF COMMUNICATIONS CORP. ANNOUNCES FOURTH QUARTER PROFIT AND YEAR END RESULTS

 T/SF COMMUNICATIONS CORP. ANNOUNCES
 FOURTH QUARTER PROFIT AND YEAR END RESULTS
 TULSA, Okla., March 24 /PRNewswire/ -- T/SF Communications Corp. (AMEX: TCM) today announced that it earned $0.02 per share for the fourth quarter of 1991, though it had a loss for the full year ended Dec. 31, 1991.
 For the fourth quarter of 1991, the company had a profit of $117,000, or $0.02 per share, on revenues of $25,214,000. This compares to a loss of $3,025,000, or $0.52 per share (including a loss of $2,355,000, resulting from the decision to take a non-cash write-down on the carrying value of certain assets of its Shopper's Guide unit), on revenues of $26,102,000 in the fourth quarter of 1990.
 For the year 1991, the company had a loss of $1,319,000, or $0.25 per common share, on revenues of $93,583,000. This compares to a loss of $3,869,000, or $0.67 per share, including the above described write-down, on revenues of $92,815,000 for 1990.
 G. Douglas Fox, chairman and chief executive officer of T/SF Communications, stated, "We are pleased to report a quarterly profit after several consecutive quarters of losses. Ninety-seven percent of the company's loss in 1991 was incurred in the first quarter. The war and recession combined to hurt most advertising-based businesses in 1991, particularly in the first quarter. While our Shopper's Guide unit continues to sustain losses, there were substantial improvements made in 1991 as a result of restructuring that was done at the end of 1990. Unfortunately, significant reductions in the earnings at the company's primary publishing operation, its daily newspaper in Tulsa, more than offset these gains. Although the Tulsa Tribune is still very profitable, the dollar reduction in its profits had an adverse effect relative to improvements elsewhere. Improvements in information services and in other smaller operations combined to allow the company to show an improvement in operating income for 1991.
 "Without the effect of the war, we expect continued progress to be made in 1992. However, the tough economic conditions, particularly in the northeastern United States, temper our optimism and will require us to work very hard to show significant earnings growth. Most of our gains are being made in operating efficiencies rather than revenue improvements."
 T/SF Communications is a diversified publishing and information company, publishing a daily newspaper, free distribution shopper- newspapers in New Jersey, Pennsylvania and New York, five trade magazines and specialty publications for conventions, as well as operating an information service company providing information to the trucking and insurance industries.
 -0- 3/24/92
 /CONTACT: G. Douglas Fox, 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


DG -- SF009 -- 1260 03/24/92 16:59 EST
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Publication:PR Newswire
Date:Mar 24, 1992
Words:485
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