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TMS, INC. ANNOUNCES FIRST QUARTER RESULTS

 TMS, INC. ANNOUNCES FIRST QUARTER RESULTS
 STILLWATER, Okla., Dec. 27 /PRNewswire/ -- Revenue from licensing


and royalties of the company's software products increased by 36 percent, to $434,984 during the first quarter, ended Nov. 30, 1991, up from $320,997 for the same period last year. Total revenue for the first quarter was $515,938 compared to $717,574 for the same period a year ago. The primary difference was a reduction in service revenue from $396,577 to $80,954 due to a major service contact a year ago.
 "The trend of increased royalties and decreased service revenue is consistent with previously reported results," commented TMS president J. Richard Phillips. Expenses for the first quarter of fiscal 1992 were $698,245 compared to $628,250 for the first quarter of fiscal 1991. The decline in total revenue resulted in a net loss of $192,580 for the first quarter of fiscal 1992, compared to net income of $76,837 for the first quarter of fiscal 1991. The net loss of $.02 per share for the current quarter compares to net income of $.01 per share for the first quarter last year.
 During November the company implemented several cost-cutting measures including reducing the number of employees by 20 percent. As a result of this action total operating costs and expenses are expected to drop by about 13 percent from the current level.
 TMS was successful in placing its InnerView and TMSFAX software products on the government's GSA schedule during the first quarter. This schedule is a negotiated contract between the federal government and TMS which allows government agencies to purchase the approved products directly from the company. This should streamline the procurement process and enhance opportunities to sell into government markets. "Since several branches of the armed sources are currently using TMS products, we expect to see wider use of the company's products within the armed forces -- especially for accessing complex maintenance manuals electronically from personal computers," Dr. Phillips remarked.
 TMS produces software products that allow large collections of information, including documentation for maintenance manuals, reference volumes for legal, accounting and library fields and collections of facsimile images of office documents or engineering drawings to be used with personal computers. The company has developed and marketed its products worldwide over the past 10 years and continues to create document publishing and imaging tools for industry and government.
 TMS is a public company and its common stock is traded in the over-the-counter market.
 -0- 12/27/91
 /CONTACT: Dale May, vice president-finance & administration of TMS, 405-377-0880/ CO: TMS, Inc. ST: Oklahoma IN: CPR SU: ERN


JT -- NY032 -- 5562 12/27/91 17:48 EST
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Date:Dec 27, 1991
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