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TMS REPORTS NET INCOME INCREASE FOR NINE MONTHS

 STILLWATER, Okla., June 25 /PRNewswire/ -- TMS, Inc. reported a sharp increase in revenue for the third quarter of fiscal 1993 over the third quarter of fiscal 1992. Revenues for the third quarter ended May 31, 1993, were $713,139, an increase of 66 percent, compared to $430,091 for the third quarter of fiscal 1992. For the nine months ended May 31, 1993, revenues were $2,009,671 compared to $1,675,834 for the same period in fiscal 1992. This was an increase of 20 percent.
 Operating costs and expenses for the third quarter of fiscal 1993 were $630,012 compared to $581,911 for the corresponding period in 1992. For the first nine months operating costs and expenses decreased by $161,871 or 9 percent to $1,669,144 in fiscal 1993, from $1,831,015 in fiscal 1992.
 Net income for the third quarter of fiscal 1993 was $80,116 compared to a net loss of $158,257, or $.02 per share for the corresponding period a year ago. For the first nine months of fiscal 1993, net income increased to $324,790 for $.04 per share from a net loss of $183,276, or $.02 per share in the corresponding period of fiscal 1992. This resulted in a profit margin of 16 percent for the nine months ended May 31, 1993.
 "Revenue increases have been partly a result of increased emphasis on the areas of document imaging, CD-ROM text publishing and engineering services. We are concentrating on and have been successful in building revenues in each of these areas," stated TMS president, Maxwell Steinhardt. "Though our third quarter results are good, we have not seen a substantial improvement in overall economic conditions. Sales to the federal government sector have been slow. As the economy heals, we anticipate increased demand from existing customers and new areas for business development," Steinhardt continued.
 "TMS is continuing to focus on consistent profitability and is using this stability to continue developing a more efficient and responsive infrastructure. Our strategy now is to focus on business basics: revenue growth across all addressed sectors, cost control, and technology enhancement," noted Steinhardt. "Examples of these developments are enhanced technical support operations which are winning outspoken customer praise, and new product releases in imaging, text and services.
 "In addition, TMS has recently made several important appointments that will benefit our growth and competitiveness," stated Steinhardt. "Art Crotzer, who has led TMS's engineering efforts resulting in our leadership position in text and imaging products, has been named senior vice president. Art has demonstrated his capabilities in forming engineering teams that produce products with superb performance, high reliability, and widely recognized ease of use. Importantly, Art's contribution in guiding the technical direction of TMS has been crucial in maintaining our competitive edge. Rick Scanlan, previously director of sales, has been promoted to vice president of sales. Rick has been instrumental in securing new business for TMS, and has proven himself as a salesman, as a manager, and in his command of TMS's complex technology," remarked Steinhardt.
 "As we move into the fourth quarter, we remain optimistic about future opportunities. The industry that caters to electronic documents and technical manuals is growing, our products and software toolkits are well positioned in the industry, and revenues and earnings are increasing," commented J. Richard Phillips, CEO.
 TMS develops and distributes software toolkits and provides engineering services to major companies and government organizations in the United States and internationally to assist them in migrating from paper to electronic information systems.
 TMS is a public company and its common stock is traded in the over- the-counter market.
 -0- 6/25/93
 /CONTACT: Dale May, vice president finance and administration, of TMS, Inc., 405-377-0880/


CO: TMS, Inc. ST: Oklahoma IN: CPR SU: ERN

TM -- NY051 -- 5917 06/25/93 17:51 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
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