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T/SF COMMUNICATIONS ANNOUNCES SUBSTANTIALLY IMPROVED FIRST QUARTER RESULTS

 T/SF COMMUNICATIONS ANNOUNCES SUBSTANTIALLY IMPROVED
 FIRST QUARTER RESULTS
 TULSA, Okla., May 14 /PRNewswire/ -- T/SF Communications Corp. (AMEX: TCM) today announced that it earned $187,000, or $0.04 per share, for the first quarter of 1992. This compares to a loss of $1,285,000, or $0.24 per share, for the first quarter of 1991. Revenues for the first quarter of 1992 were $23,438,000 as compared to $21,405,000 for the first quarter of 1991.
 G. Douglas Fox, chairman and chief executive officer of T/SF Communications, stated, "The results represent improvement in virtually every major operating division of the company. Operating cash flow (income before interest, depreciation and amortization and income taxes) was up approximately $1,900,000 compared to the first quarter of 1991. In particular, we consider the continued improvement at the company's Shopper's Guide operation in New Jersey, which has been a source of problems over the last couple of years, to be particularly significant. Making even a small profit in what has traditionally been the company's weakest quarter is a real milestone after the disappointing results in 1990 and 1991.
 "1991's first quarter results were disproportionately impacted by the war in the Persian Gulf, which negatively affected all advertising based businesses. The first quarter of 1992 is helped by the receipt of settlement proceeds from a lawsuit that the company had filed to recover expenses and lost profits in the long distance reselling business of its information services division. This recovery represents approximately half of the year-to-year gain for the quarter. Being relieved of the large legal expenses of this litigation should allow the informational services division to continue to improve operating results for the rest of the year.
 "The company's restructuring and streamlining efforts of the last eighteen months are now being reflected in significant cost reductions. With the gradual improvement of the economy that is currently being forecast, we look forward to continued improvement for the remainder of the year."
 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 services company providing information to the trucking and insurance industries.
 -0- 5/14/92
 /CONTACT:CONTACT: G. Douglas Fox, Howard G. Barnett, Jr., or J. Gary Morton, 918/747-2600, all of T/SF Communications/
 (TCM) CO: T/SF Communications ST: Oklahoma, New Jersey, Pennsylvania and New York IN: SU: ERN


MM -- SF004 -- 0245 05/14/92 12:33 EDT
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Publication:PR Newswire
Date:May 14, 1992
Words:431
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