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SULCUS COMPUTER NET INCOME TRIPLES IN FOURTH QUARTER AND FULL YEAR ON RECORD REVENUES; NEW RECORDS EXPECTED IN 1992

 SULCUS COMPUTER NET INCOME TRIPLES IN FOURTH QUARTER
 AND FULL YEAR ON RECORD REVENUES; NEW RECORDS EXPECTED IN 1992
 GREENSBURG, Pa., March 3 /PRNewswire/ -- Sulcus Computer Corporation (NASDAQ: SULC), a leading developer of automated systems for the lodging, legal and real estate markets, reported new operating records for the fourth quarter and full year, with net income more than tripling in both period. Jeffrey S. Ratner, chairman and chief executive officer said that "this momentum is continuing and we will clearly establish new records once again in the current first quarter and for all of 1992."
 Ratner attributed the acceleration of revenues and profits to "the achievement of sufficient mass in product offerings and sales so that in the lodging industry Sulcus is now accepted as a leading innovator of software solutions. With 55 different software applications, ranging from a central reservations system to an artificial intelligence 'yield' program which automatically reprices room inventory, Sulcus is nearing its strategic goal of becoming the on-stop-shop for the lodging industry in the search for software solutions which increase productivity and reduce costs. With the addition of NRG, Inc. and Squirrel Companies, Inc., with whom we have signed preliminary acquisition agreements, we continue to fulfill our commitment to our customers to remain at the cutting edge of technology."
 "Per share results for 1991 were especially gratifying," Ratner said, "since they rose 186 percent for the full year and 128 percent for the fourth quarter, despite a 45 percent increase in the weighted average shares for the full year, and a 98 percent increase in weighted shares for the fourth quarter. We remain committed to non-dilutive growth through product expansion and focused acquisitions, and the validity of this program is attested to by the growth in per share earnings as compared to the growth in number of shares outstanding."
 Ratner further noted that "reported profits were reduced by a one- time non-cash currency charge relating to the company's Australian operations, as well as non-recurring write-offs of some $125,000, or $.02 per share."
 For the year ended Dec. 31, 1991, revenues rose 260 percent to $18,010,000 from $5,005,000. Net income totalled $1,937,000 against a loss in 1990 of $1,589,000. Per share earnings equalled $.30 on a weighted average of 6,538,000 common shares outstanding, compared to a loss of $.35 per share on a weighted average of 4,494,000 shares outstanding in 1990.
 For the fourth quarter ended Dec. 31, 1991, revenues increased 177 percent to $4,633,000, against $1,674,000 in the comparable period the year before. Net income rose to $517,000 compared to a loss of $818,000 in the same period. Per share earnings for the fourth quarter were $.05 on a weighted average of 9,477,000 shares outstanding, versus a deficit of $.18 per share on a weighted average of 4,791,000 outstanding in the last quarter of 1990.
 Sulcus Computer Corporation is a leading developer of automated systems for its lodging, legal and real estate markets. Sulcus customers include such names as Hilton, Sheraton, Marriott, Radisson, Embassy Suites, Nikkko, Holiday Inn, Four Seasons, Canadian Pacific, Interstate, Clubhouse Inns, Regent and Novatel.
 SULCUS COMPUTER CORPORATION
 SUMMARY INCOME STATEMENT
 (In thousands except per share data, unaudited)
 Three months ended Dec. 31 1991 1990 Pct. Change
 Total revenues 4,633 1,674 +177
 Net income (loss) 517 (818) +163
 Earnings (loss) per common share
 and common share equivalents .05 (.18) +128
 Weighted average number of
 common shares 9,477 4,791 +98
 Year ended 1991 1990 Pct. Change
 Total revenues 18,010 5,005 +260
 Net income (loss) 1,937 (1,589) +222
 Earnings (loss) per common share
 and common share equivalents .30 (.35) +186
 Weighted average number of
 common shares 6,538 4,494 +45
 -0- 3/3/92
 /CONTACT: Jeffrey S. Ratner, chairman and CEO of Sulcus Computer, 412-836-2000/
 (SULC) CO: Sulcus Computer Corporation ST: Pennsylvania IN: CPR SU: ERN


AH-OS -- NY040 -- 4470 03/03/92 11:56 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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