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TMSSequoia Reports Record Revenue

TMSSequoia (Stillwater, OK, OTC: TMSS) reports record Q1 '98 revenue of $2,054,144, up 70% from Q1 '97. A net income of $191,651 compares with a $157,000 loss in Q1 '97. Licensing and royalties revenue increased 77% from Q1 '97, attributable to increased product sales and stronger royalties collections. During the quarter TMSSequoia introduced the Prizm profesional plug-in product, and signed an OEM agreement with Caere (Los Gatos, CA) to market the OmniPage OCR product with TMSSequoia's ScanFix image enhancement technology. TMSSequoia also named Art Crotzer as CEO, who replaced retiring CEO Maxwell Steinhardt.

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