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TMS, INC. ANNOUNCES THIRD QUARTER RESULTS

 TMS, INC. ANNOUNCES THIRD QUARTER RESULTS
 STILLWATER, Okla., June 26 /PRNewswire/ -- TMS, Inc. today announced


revenues for the third quarter of fiscal 1992 were $430,091 compared to $518,909 for the same period a year ago. Revenue for the nine months was $1,675,834 and $1,997,996 for fiscal 1992 and 1991 respectively. This drop of $322,162 was brought about by the decrease of $512,421 in service revenue while licensing and royalties revenue increased by $190,259. The drop in revenues resulted in losses of $158,257 for the third quarter and $183,276 for the nine months compared to a loss for the quarter last year of $151,167 and net income of $41,412 for the first nine months of last year. Losses for both the quarter and year to date for fiscal 1992 amounted to $0.02 per share.
 Over the past several years the company has emphasized an expected growth in revenues from licensing and royalties. This has occurred, while large service contracts have diminished. "Changing conditions in the marketplace have now created some new opportunities for services and as these services complement the marketing and sales of our products, we expect them to contribute modestly to revenues," stated TMS President Dr. J. Richard Phillips. Service revenue began to increase late in the third quarter.
 As changes continue to occur in the industry, company resources are increasingly being focused in areas that are designed to increase sales of both products and services. In response to competitive price pressures, TMS has reduced prices on major products. "Higher volume is expected to offset the loss of revenue from lower pricing," commented Phillips.
 Operating costs and expenses for the third quarter of fiscal 1992 of $581,911 were $76,781, or 12 percent less than the $658,692 incurred for the same period last year. Reduced personnel costs accounted for $59,500 of the decrease. Operating costs and expenses for the nine months ended May 31, 1992, of $1,831,015 were down by $93,050, or five percent from $1,924,065 reported for the nine months ended May 31, 1991. As a result of costcutting actions in November 1991, expenses are expected to remain lower than a year ago for the remainder of fiscal 1992.
 The federal government and military markets continue to look attractive as users of TMS' products. Recently, the company was informed that its imaging product, TMSFAX, has been bundled with another software product and is to be a standard for the Department of Defense (DOD). This is expected to increase the use of TMS' imaging product by the DOD over the next three to five years. "We have also been informed that a major corporation is releasing four new versions of a software product that incorporate our imaging software. As products are released by major customers, we expect to see a positive impact on our licensing and royalty revenue," Phillips noted.
 Enhancements to TMS' electronic filing cabinet, FastCab, are planned for release in the fourth quarter. "Users have provided valuable information on additional capabilities that are important in their office environments," Phillips stated. This retail product will continue to be offered to typical offices and departments that have, or are willing to acquire, digital scanners to convert their file folders to electronic folders and files.
 TMS is a public company and its common stock is traded in the over- the-counter market under the symbol 3TMSS.
 -0- 6/26/92
 /CONTACT: Dale May, vice president finance/administration of TMS Inc., 405-377-0880/ CO: TMS, Inc. ST: Oklahoma IN: CPR SU: ERN


AH -- NY074 -- 4417 06/26/92 18:57 EDT
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Date:Jun 26, 1992
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