Seems a bit low, but then, I never dyno'ed my 94. My 96(OBDII) was at 108.8HP completly stock. Open exhaust pushed it to 111.2 and a Dynomax Turbo cat-back was best at 113.8. These were all at 14 degrees BTDC. Of course, this was at about 4500 miles, however it also was after three full seasons running SSB.
How many miles are on your 94? Lazy valve springs would probably account for the missing ponies.