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SULCUS COMPUTER CORP. REPORTS RECORD SECOND QUARTER AND FIRST HALF RESULTS

    GREENSBURG, Pa., Aug. 5 /PRNewswire/ -- Sulcus Computer Corporation (AMEX: SUL) achieved record sales and net income after tax for the second quarter and first half ended June 30, 1993, it was reported today by Jeffrey S. Ratner, chairman and chief executive officer.  Mr. Ratner noted that "these records were achieved while continuing our heavy investment in new product development, increased operations and expanded global marketing."
    For the six-months ended June 30, 1993 Sulcus Computer achieved record half year sales of $24,598,439, a 57 percent increase above the $15,704,907 reported in the comparable period a year ago.  Net income after taxes and before 1992's accounting adjustment amounted to $2,772,794, or $.20 per share on 13,866,593 shares outstanding, a 69 percent increase over the $1,637,600, or $.14 per share reported the year before on 11,940,026 shares then outstanding.  In addition, in 1992 the company adopted the financial accounting board standard (SFAS) 109 "Accounting for Income Taxes" (required 1/1/93) which created a 1992 first half accounting adjustment gain of $729,523, or $.06 per share, bringing first half 1992 per share earnings to $.20.
    For the three months ended June 30, 1993 Sulcus Computer achieved record second quarter sales of $12,110,793, an increase of 31 percent above the $9,278,095 reported in the like period the year before.  Net income after taxes and before 1992's accounting adjustment increased 47 percent to $1,331,727, or $.10 per share on 14,016,956 shares outstanding, compared with $904,690 or $.07 per share earned on 12,367,309 shares outstanding in the 1992 second quarter.  In addition, the 1992 second quarter benefited from the aforementioned accounting adjustment by $566,723 or $.05 per share, bringing per share net income to $.12 on fewer shares outstanding in that period.
    Mr. Ratner noted that "It is especially gratifying, despite the continued sluggish domestic market, to witness the expanded global reach of Sulcus, with product now installed in more than 40 nations, and new markets being opened on a steady basis.  It is our goal to entrench Sulcus as the world leader in every market place where hospitality and travel related software is required.  That ambition has already been realized in some key markets, and with its breadth of product line and strategic marketing focus, Sulcus is now a leading international factor in hospitality automation."
    Sulcus Computer Corporation is a leading developer of automated systems for the hospitality, legal and real estate market.  Sulcus systems have been installed in more than an estimated 6,000 hotels, restaurants, tide 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, Sfuzzsis, Houlihan's, The Department of the Navy, Canadian Pacific, Interstate, UCLA, CitiCorp, First American Title, Clubhouse Inns, Park Lane and Novotel.
                         SULCUS COMPUTER CORPORATION
                         Earnings Summary (Unaudited)
     Periods ended          Six months              Three months
      June 30           1993          1992         1993        1992
    Total revenue    $24,598,439  $15,704,907  $12,110,793  $9,278,095
    Income before taxes
     and accounting
     adjustment        2,857,647    2,411,525    1,363,214   1,496,012
    Tax expense           84,853      773,925       31,487     591,322
    Net income after
     tax expense       2,772,794    1,637,600    1,331,727     904,690
    Accounting adjustment(A)   0      729,523            0     556,723
    Net income         2,772,794    2,367,123    1,331,727   1,461,413
    Shares outstanding 13,866,593  11,940,026   14,016,956  12,367,309
    Net income per share
     After taxes           $0.20       $0.14        $0.10       $0.07
     Accounting adjustment(A) 0.00      0.06         0.00        0.05
     Net income per share   0.20        0.20         0.10        0.12
    (A) Cumulative effect of an accounting change to FASB 109, "Accounting for Income Taxes"
    -0-             08/05/93
    CONTACT:  William McLay of Sulcus Computer Corporation, 602-952-7240, or 412-836-2000
    (SUL) CO:  SULCUS COMPUTER CORP. IN:  CPR SU:  ERN ST:  PA


-- NY078 -- X323 08/05/93
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Date:Aug 5, 1993
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