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TITAN ANNOUNCES FIRST QUARTER RESULTS

 TITAN ANNOUNCES FIRST QUARTER RESULTS
 SAN DIEGO, April 28 /PRNewswire/ -- The Titan Corp. (NYSE: TTN)


today reported net income of $707,000 for the first quarter of 1992, up 2 percent from net income of $695,000 in the first quarter of 1991. Earnings per common share were $0.05 in the first quarter of both 1992 and 1991. Revenues for the quarter were $33,949,000, down 5 percent from revenues of $35,764,000 in the first quarter a year ago. The decrease in revenues reflects the completion of a contract which contributed significant revenues in the first quarter of 1991.
 According to Gene W. Ray, president and chief executive officer, "Results for the first quarter of 1992 were very strong considering that we invested over $1,400,000 in research and development during the quarter, much of which related to our emerging commercial businesses. We plan to make such investments throughout 1992."
 The Titan Corp., headquartered in San Diego, is a leading supplier of customized high technology electronics products and integrated hardware/software systems to federal, state and local government agencies, as well as domestic and international clients.
 THE TITAN CORP.
 1992 First Quarter Results
 (Unaudited)
 Three months ended
 March 31,
 1992 1991
 Revenues $33,949,000 $35,764,000
 Net income $707,000 $695,000
 Preferred dividends 174,000 174,000
 Net income applicable
 to common stock $533,000 $521,000
 Net income per average
 common share $0.05 $0.05
 Average common shares
 outstanding 11,399,000 10,033,000
 -0- 4/28/92
 /CONTACT: Stephen P. Meyer, senior VP & CFO of The Titan Corp., 619-552-9639/
 (TTN) CO: The Titan Corp. ST: California IN: CPR SU: ERN


EH-JL -- SD003 -- 4117 04/28/92 19:52 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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