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SULCUS COMPUTER ANNOUNCES FIRST QUARTER NET INCOME INCREASE OF 347 PERCENT

 SULCUS COMPUTER ANNOUNCES FIRST QUARTER NET INCOME INCREASE
 OF 347 PERCENT
 GREENSBURG, Pa., April 20 /PRNewswire/ -- Sulcus Computer Corporation (NASDAQ: SULC), a leading developer of automated systems for the lodging, legal and real estate markets, today reported that net income for the three months ended March 31, 1992, was $905,710, as compared to $202,597 in the similar period of 1991. Gross revenues for the three-month period ended March 31, 1991, increased 56 percent to $6,426,812 from the year-earlier amount of $4,116,117.
 Management attributed the increases in revenues to continued growth in lodging and real property system sales. Furthermore, support service revenues increased to $2,412,672 for the quarter ended March 31, 1992, as compared to $1,528,603 for the corresponding period of the prior year.
 Net income was increased primarily due to earlier cost reductions and monthly adjustments in general and administrative expenses, and increases in gross margin due to de-emphasizing hardware sales.
 Sulcus markets its automation systems through two groups and in four separate markets: real estate closings, real estate loans, and the hospitality lodging industry through the Sulcus Real Estate/Hospitality Group; and to the legal profession through the Sulcus Legal Group.
 SULCUS COMPUTER CORPORATION
 Summary Income Statement
 (Unaudited; in thousands except per share data)
 Three months ended March 31 1992 1991
 Total revenues $6,427 $4,116
 Net income (loss) $ 906 $ 203
 Earnings (loss) per common share
 and common share equivalents $.08 $.05
 Weighted average number of common shares 11,870 4,592
 -0- 4/20/92

 /CONTACT: Jeffrey S. Ratner, chairman and CEO of Sulcus, 412-836-2000/
 (SULC) CO: Sulcus Computer Corporation ST: Pennsylvania IN: CPR SU: ERN


GK-TS -- NY044 -- 0038 04/20/92 11:58 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
Words:288
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