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SULCUS COMPUTER CORP. REPORTS RECORD 1992 REVENUES AND NET INCOME

 GREENSBURG, Pa., March 30 /PRNewswire/ -- Sulcus Computer Corp. (AMEX: SUL) "increased net income 167 percent in the fourth quarter ended Dec. 31, 1992 to a record $5.2 million from $1.9 million in 1991. Revenues increased 113 percent to a record $38.3 million in 1992 from $18.0 million a year ago," Jeffrey S. Ratner, chairman and chief executive officer, announced today.
 Earnings per share in 1992 increased 40 percent to $.42 from $.30 in 1991 on a 90 percent increase in weighted average shares outstanding to 12.4 million in 1992 from 6.5 million in 1991.
 Mr. Ratner continued, "Strategic acquisitions last year combined with internal growth from new and enhanced product offerings resulting from ongoing research and development have positioned Sulcus as a premier developer and supplier of automated systems for the hospitality market. One-stop shopping has begun to become a reality for hotels, restaurants, casino-resorts and country clubs throughout the world. Information systems managers can choose between purchasing a system and contracting for ongoing service and maintenance or installing a system and paying on a transaction basis tied to various components of the property's gross revenue and/or reduced expenses. This latter method reduces the initial capital investments for our customers and provides a continuing revenue stream for Sulcus."
 For the quarter ended Dec. 31, 1992, revenues increased 130 percent to a fourth quarter record $10.6 million from $4.6 million in the same quarter of 1991. Net income in the 1992 quarter was $665,000, or $.05 per share, on 13.0 weighted average shares outstanding versus net income of $517,000, or $.04 per share, on a weighted average of 9.5 million common shares outstanding in the fourth quarter of 1991.
 Sulcus Computer Corporation is a leading developer of automation systems for the hospitality, legal and real estate markets. Sulcus systems have been installed in more than an estimated 6,000 hotels, restaurants, title insurance companies, banks, law firms, country clubs, resorts and others on six continents. Customers include such names as Sheraton, Marriott, Applebee's, Promus, Radisson, ANA, Embassy Suites, Nikko, Holiday Inn, Chi Chi's, Sfuzzis, Houlihan's, Canadian Pacific, Interstate, CitiCorp, American Title, Clubhouse Inns, Park Lane and Novotel.
 SULCUS COMPUTER CORPORATION
 Summary Income Statement
 (In thousands except per share data)
 Three months ended Dec. 31 1992 1991 Percent
 Change
 Total revenues $10,642 $ 4,633 130
 Net income (loss) $ 665 $ 517 29
 Earnings (loss) per common share
 and common share equivalents $.05 $.04 25
 Weighted average number of
 common shares 13,036 9,477 38
 Year 1992 1991 Percent
 Change
 Total revenues $38,280 $18,010 113
 Net income (loss) $ 5,180 $ 1,937 167
 Earnings (loss) per common share
 and common share equivalents $.42 $.30 40
 Weighted average number of
 common shares 12,446 6,538 90
 -0- 3/30/93
 /CONTACT: Jeffrey S. Ratner, chairman and CEO of Sulcus Computer, 412-836-2000/
 (SUL)


CO: Sulcus Computer Corp. ST: Pennsylvania IN: CPR SU: ERN

GK-OS -- NY076 -- 9721 03/30/93 15:39 EST
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Publication:PR Newswire
Date:Mar 30, 1993
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