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 SCHAUMBURG, Ill., Dec. 7 /PRNewswire/ -- TRO Learning, Inc. (TRO) (NASDAQ-NMS: TUTR) announced today that net income from continuing operations for its fiscal year ended Oct. 31, 1993 increased 75 percent to $3,785,000 or $.63 per share, compared to $2,158,000 or $.48 per share in 1992. Net income from continuing operations for the fourth quarter ended Oct. 31, 1993 was $2,137,000 or $.34 per share, as compared to $1,611,000 or $.36 per share in 1992. The average shares outstanding for fiscal year 1993 and the fourth quarter were 33 percent and 39 percent higher than the comparable periods of the prior year, respectively, as a result of TRO's December 1992 initial public offering of common stock.
 Revenues for fiscal 1993 were up 16 percent from 1992 to $26,533,000. Net income for fiscal 1993 increased 19 percent to $4,577,000, as compared to $3,858,000 in 1992. Net income for fiscal 1993 included a loss from discontinued operations of $738,000, as compared to income from discontinued operations of $320,000 in 1992.
 In commenting on the results, William R. Roach, chairman of the board, president and chief executive officer, stated: "I am very pleased to report an increase of 75 percent in net income from continuing operations for the year. Education and training courseware revenues increased over 40 percent in 1993. Clearly, our investments in the library of PLATO(R) Education and Aviation Training products, coupled with the expansion of our sales organization, have spurred this significant growth in revenue and earnings in 1993. Our financial performance reflects TRO's successful efforts in providing cost- effective, leading-edge, technology-based solutions to fulfill our customers' education and training needs."
 Mr. Roach went on to say, "We have made significant progress toward achieving our financial and strategic goals. Our leadership position, we believe, will be greatly enhanced by our plans with respect to the corporate marketplace. It gives me great pleasure to announce TRO Learning's plans to develop a comprehensive basic skills curricula to address the education and training needs of the corporate marketplace. The curricula will be designed to enhance the foundation skills of workers, in support of the high performance required by business and industry to be competitive in today's global economy." A separate press release was issued to announce this new program.
 In commenting on this investment, Sharon Fierro, senior vice president and chief financial officer, stated, "We recently decided to accelerate the Workplace Curricula development efforts to take advantage of a window of opportunity to lead the industry and provide appropriate, cost-effective solutions for this rapidly emerging market. We currently anticipate making the investment of over $3.0 million in this new product over the next 12 months. The company continues its conservative accounting policy of expensing product development costs as incurred and maintaining its high quality of earnings. The impact on FY 1994 earnings per share based an current development plans, relative to product development expense in 1993, is estimated to be approximately $(.30) per share. Significant revenues generated by this investment are not expected until 1995."
 TRO Learning, Inc.'s board of directors approved a stock repurchase program for the company's common stock. The board approved repurchases from time to time of up to an aggregate maximum of 600,000 shares for the primary purpose of providing shares for the future exercise of outstanding employee stock options. Mr. Roach also advised the board of his personal desire to acquire up to a maximum of 600,000 shares of common stock in the market. In light of the approval of the stock repurchase plan, the board has directed that Mr. Roach and the company adopt procedures to assure that any such purchases by the company and Mr. Roach are accomplished in an appropriate manner before the commencement of any purchase activity.
 TRO Learning is a leading developer and marketer of microcomputer- based interactive, self-paced instructional and testing systems used in a wide variety of applications. The company's integrated learning systems provide flexible, effective, cost-efficient education and training alternatives to traditional classroom instruction. Offering comprehensive selections of educational courseware designed for use by adults and young adults, the company's PLATO education systems are marketed as integrated learning systems under the PLATO trademark to middle and secondary schools, community colleges, job training programs, correctional institutions and other government-funded programs, as well as to private industry for use in basic skills training and enhancement. The company's aviation training systems are marketed to airlines worldwide under the TRO label for use by commercial airline pilots, maintenance crews and cabin personnel.
 TRO Learning, Inc. is a multinational training and education company with its headquarters in Edina, Minn., domestic sales offices located throughout the United States and international offices in Canada, the United Kingdom and China. TRO Learning's executive offices are at Woodfield Corporate Center, 150 North Martingale Road, Suite 700, Schaumburg, Ill., 60173, 708-517-5100.
 PLATO is a registered trademark of TRO Learning, Inc.
 Consolidated Statements of Income
 (Unaudited; in thousands, except share and per-share amounts)
 Periods ended Quarter Year
 Oct. 31, 1993 1992 1993 1992
 Revenues $ 8,753 $ 8,994 $ 26,533 $ 22,864
 Cost of revenues 1,547 2,839 5,114 5,886
 Gross profit 7,206 6,155 21,419 16,978
 Operating expenses:
 Selling, general and
 administration expense 3,203 2,559 11,144 9,135
 Product development,
 technical support and
 systems integration 1,014 1,222 4,671 4,238
 Restructuring charges and
 other -- (130) -- (130)
 Total operating expenses 4,217 3,651 15,815 13,243
 Operating income 2,989 2,504 5,604 3,735
 Interest expense -- (134) (102) (557)
 Interest income and other, net 63 141 233 186
 Income from continuing operations
 before income taxes 3,052 2,511 5,735 3,364
 Provision for income taxes 915 900 1,950 1,206
 Income from continuing
 operations 2,137 1,611 3,785 2,158
 Discontinued operations:
 (Loss) income from
 discontinued operations (267) (110) (506) 178
 (Loss) gain on disposal (232) -- (232) 142
 Gain from discontinued
 operations (499) (110) (738) 320
 Income before extraordinary
 item 1,638 1,501 3,047 2,478
 Extraordinary item - tax benefit
 resulting from utilization
 of loss carryforwards 585 834 1,530 1,380
 Net income $ 2,223 $ 2,335 $ 4,577 $ 3,858
 Income per common and
 common equivalent share
 Primary (A) - pro forma basis:
 Income from continuing
 operations $ 0.34 $ 0.36 $ 0.63 $ 0.48
 Income from discontinued
 operations (0.08) (0.02) (0.12) 0.07
 Income before extraordinary
 item 0.26 0.34 0.51 0.55
 Extraordinary item 0.09 0.18 0.25 0.31
 Net income $ 0.35 $ 0.52 $ 0.76 $ 0.86
 Weighted average common
 and common equivalent
 shares outstanding 6,297,000 4,523,000 6,022,000 4,523,000
 (A) Fully diluted income per share is not presented since the result is the same or antidilutive.
 -0- 12/7/93
 /CONTACT: Sharon Fierro senior vice president and chief financial officer of TRO Learning, Inc., 708-517-5100/

CO: TRO Learning, Inc. ST: Illinois, Minnesota IN: CPR SU: ERN

CK-LD -- NY101 -- 1508 12/07/93 20:20 EST
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Date:Dec 7, 1993

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