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TSI ANNOUNCES THIRD-QUARTER RESULTS

 SHOREVIEW, Minn., Jan. 26 /PRNewswire/ -- TSI Incorporated (NASDAQ: TSII), Shoreview, as forecasted in a recent news release, today reported lower sales and earnings for the fiscal third quarter ended Dec. 31, 1992. However, sales and earnings were higher for the nine- month period.
 For the fiscal 1993 third quarter, sales were $9.3 million versus $10.8 million a year earlier. Net earnings were $71,000, or $.02 per share, down from $556,000, or $.15 per share, in the year-earlier period.
 For the nine-month period ended Dec. 31, 1992, sales were $29.8 million, up from $29.6 million a year ago. Net earnings increased to $1,203,000, or $.34 per share, compared with $1,103,000, or $.30 per share, based on continuing operations.
 Dr. Leroy M. Fingerson, chairman & CEO, stated, "While we are ahead of last year's nine-month results, continued weakness in our export business, particularly in Europe, has been disappointing. For our third quarter, gross profits were below our usual range mostly due to lower sales which caused relatively higher fixed costs. Other costs were near or below last year's levels.
 "Going forward," Fingerson concluded, "for the full fiscal year we believe there will be a modest increase in earnings. Recent sales bookings from Europe have been more encouraging and we anticipate U.S. sales to continue to strengthen. Looking beyond fiscal 1993, our product offerings are being enhanced in our major markets as we remain committed to new product development. The recently announced acquisition of Transducer Research Inc., is a good addition to our technology base, allowing TSI to introduce chemical sensors to our product offerings."
 The company maintains a strong financial position and has paid dividends to shareholders for 18 consecutive years.
 TSI is a recognized worldwide leader in providing measuring instruments for environmental monitoring and control, research applications, and industrial process control, emphasizing non-contact technology.
 TSI INCORPORATED
 Summary Consolidated Financial Data
 (In thousands, except per share data)
 (Unaudited)
 INCOME STATEMENT DATA: Third Quarter Ended Nine Months Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Net sales $9,256 $10,765 $29,755 $29,601
 Gross profit 5,183 6,062 17,008 16,716
 Research & Prod. Dev. Expenses 1,412 1,598 4,318 4,509
 Selling expenses 2,809 2,822 8,440 8,135
 Administrative expenses 902 888 2,659 2,498
 Operating income 60 754 1,591 1,574
 Other income 45 89 204 370
 Earnings before income taxes 105 843 1,795 1,944
 Provision for income taxes 34 287 592 841
 Earnings before cumulative
 effect of accounting change 71 556 1,203 1,103
 Cumulative effect of
 accounting change -- -- -- 73
 Net earnings $71 $556 $1,203 $1,176
 Earnings per share:
 Net earnings before cumulative
 effect of accounting change .02 .15 .34 .30
 Accounting change -- -- -- .02
 Net earnings $.02 $.15 $.34 $.32
 Weighted average shares 3,599 3,711 3,515 3,718
 BALANCE SHEET DATA:
 (Thousands) 12/31/92 12/31/91
 Assets:
 Cash & investments $5,119 $5,363
 Total current assets 18,224 19,143
 Total assets 24,411 25,657
 Liabilities and equity:
 Total current liabilities 4,575 4,775
 Long-term liabilities 705 965
 Deferred income taxes 135 579
 Shareholders' equity 18,996 19,338
 -0- 1/26/93
 /CONTACT: Lowell D. Nystrom of TSI, 612-483-0900/
 (TSII)


CO: TSI Incorporated ST: Minnesota IN: SU: ERN

AL -- MN018 -- 9264 01/26/93 16:28 EST
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Date:Jan 26, 1993
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