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TJ SYSTEMS CORPORATION REPORTS SECOND QUARTER EARNINGS

 HAUPPAUGE, N.Y., Aug. 12 /PRNewswire/ -- TJ Systems Corporation (NASDAQ: TJSY) reported second quarter revenues of $2,567,877 compared to $3,886,426 for the same quarter in 1992. Net earnings for the second quarter were $167,715, or $0.02 per share versus $256,128, or $0.04 per share for the same period in 1992. For the six month period ending June 30, 1993, the company reported total revenues of $5,341,088, versus $6,719,366 for the prior six month period in 1992. Net earnings for the first six months of 1993 were $320,751, or $0.04 per share, versus $457,484 or $0.07 per share for the first six months of 1992.
 The company indicated that the difference in the quarter's results were due to the combination of two factors: first, the limitation of capital required the company to defer its execution of new leases until after its public offering consummated on Aug. 11, 1993; second, there was a shift in the leases during the quarter from sales and direct- finance leases to more operating leases.
 Theodore J. Orlando, chairman and CEO, states, "TJ Systems continues to perform well considering its previous capital constraints, which limited the number of new leases written this quarter. Having successfully completed a secondary offering raising $3.2 million, I believe the future performance will significantly improve due to this important cash infusion."
 The company has experienced a shift in the composition of its lease portfolio from monthly direct-finance and sales-types to operating leases. This shift in lease type affords more consistency to revenue flow and minimizes the fluctuations which can occur over the lease term.
 TJ Systems Corporation, through its wholly owned subsidiary TJ Computer Service, Inc., is engaged in the leasing of a wide variety of computer and telecommunications equipment to large corporations, including: The Hertz Corporation, Tiffany & Co., Bed Bath & Beyond and Grumman Aerospace, which have extensive information and teleprocessing needs.
 TJ SYSTEMS CORPORATION
 Summary Financial Information
 June 30, 1993
 Three months Six months
 Period ended June 30, 1993 1992 1993 1992
 Revenues
 Sales-type $ 321,744 $1,933,714 $ 998,490 $2,586,851
 Direct finance 115,671 223,017 247,807 473,234
 Operating lease 1,968,143 1,526,874 3,881,162 2,833,339
 Other 162,319 202,821 213,629 825,942
 Total Revenues 2,567,877 3,886,426 5,341,088 6,719,366
 Earnings before taxes 276,280 406,310 528,359 741,980
 Net earnings 167,715 256,128 320,751 457,484
 Net earnings per
 common share $.02 $.04 $.04 $.07
 Weighted average shares
 outstanding 7,977,661 6,981,526 7,977,661 6,981,526
 -0- 8/12/93
 /CONTACT: Theodore J. Orlando, chairman and CEO of TJ Systems, 516-273-9130, or Anthony J. DiMaio, investor relations of Anthem Communications, 212-943-8998, for TJ Systems Corporation/
 (TJSY)


CO: TJ Systems Corporation ST: New York IN: SU: ERN

LD-MP -- NY077 -- 2334 08/12/93 17:55 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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