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T/SF COMMUNICATIONS CORP. ANNOUNCES FIRST QUARTER RESULTS

 TULSA, Okla., May 14 /PRNewswire/ -- T/SF Communications Corp. (AMEX: TCM) today announced a net loss of $626,000, or $0.12 per share, for the first quarter of 1993. This compares with a net income of $187,000, or $0.04 per share, for the first quarter of 1992. Revenues for the first quarter of 1993 were $17,566,000 as compared with $23,438,000 for the first quarter of 1992.
 G. Douglas Fox, chairman and chief executive officer of T/SF Communications, stated, "The significant decline in revenue results from the termination of the operation of The Tulsa Tribune effective Sept. 30, 1992. For comparison purposes, Tribune operating revenues for the first quarter of 1992 were $5,787,000. The first quarter of 1992 also included proceeds from the settlement of a lawsuit of approximately $950,000. Thus, our operating revenues from continuing operations are actually slightly higher for the first quarter of 1993 as compared with a year ago. The company's operating income, i.e., its income from normal operations before interest, depreciation and amortization and income taxes, ignoring any income from Tribune, was $572,000 for the first quarter of 1993, as compared with $480,000 for the first quarter of 1992. This comparison is of those operations which are continuing. After a close examination of our existing businesses over the last few months, we have concluded that there are a number of significant opportunities for growth within these businesses. We look forward to the challenge of developing and improving these operations."
 T/SF Communications is a diversified publishing and information company which publishes free distribution shopper-newspapers in New Jersey, Pennsylvania and New York, six trade magazines and specialty publications for conventions and trade shows, as well as operating an information services company providing information to the trucking and insurance industries.
 T/SF COMMUNICATIONS CORPORATION
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (In thousands, except per share amounts)
 Three Months Ended
 March 31,
 1993 1992
 (Unaudited)
 Revenues:
 Publishing $ 13,696 $ 18,860
 Information services 3,534 3,252
 Other operating revenue 336 1,326
 Total revenues 17,566 23,438
 Costs and Expenses:
 Publishing 11,027 13,629
 Information services 2,247 2,037
 General and administrative 3,523 5,427
 Interest 490 596
 Depreciation and amortization 1,060 1,192
 Total costs and expesnes 18,347 22,881
 Income (loss) before equity
 earnings and income taxes ( 781) 557
 Earnings of equity investments 22 14
 Benefit (provision) for income taxes 133 ( 384)
 Net income (loss) $( 626) $ 187
 Per Share Amounts:
 Earnings (loss) per common and
 common equivalent share $( 0.12) $ 0.04
 -0- 5/14/93
 /CONTACT: G. Douglas Fox, chairman and chief executive officer; Howard G. Barnett Jr., president and chief operating officer; or J. Gary Mourton, chief financial officer, 918-747-2600, all of T/SF Communications/
 (TCM)


CO: T/SF Communications Corp. ST: Oklahoma IN: PUB SU: ERN

TM -- SF005 -- 8657 05/14/93 13:11 EDT
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Publication:PR Newswire
Date:May 14, 1993
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