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CONVERGENT SOLUTIONS ANNOUNCES SALES AND EARNINGS FOR YEAR ENDED SEPT. 30, 1991

 CONVERGENT SOLUTIONS ANNOUNCES SALES AND EARNINGS
 FOR YEAR ENDED SEPT. 30, 1991
 LAURENCE HARBOR, N.J., Dec. 26 /PRNewswire/ -- Convergent Solutions, Inc. (NASDAQ: CSOL), a company primarily engaged in developing and marketing software products, reported that revenues of the company for the year ended Sept. 30, 1991, were $6,551,000 compared with $6,304,000 for the prior fiscal year. Net loss for the year ended Sept. 30, 1991, was $2,153,000 (41 cents per share) compared with net income of $172,000 (3 cents per share) for the prior fiscal year. The decrease in net income was attributable primarily to the write-off, in fiscal 1991, of capitalized software development costs of $1,263,000, as well as increased costs of sales and decreases in license sales.
 Revenues of the company for the fourth quarter of fiscal 1991 were $2,100,000 compared with $2,200,000 for the fourth quarter of fiscal 1990. Net loss for the fourth quarter of fiscal 1991 was $490,000 (10 cents per share) compared with net income of $102,000 (2 cents per share) for the fourth quarter of fiscal 1990.
 -0- 12/26/91
 /CONTACT: Vincent Galano, chairman of Convergent Solutions, 908-290-0090/
 (CSOL) CO: Convergent Solutions Inc. ST: New Jersey IN: SU: ERN


KD-SM -- NY019 -- 5341 12/26/91 16:10 EST
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Publication:PR Newswire
Date:Dec 26, 1991
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