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SULCUS COMPUTER REPORTS RECORD OPERATING RESULTS FOR SECOND QUARTER

 SULCUS COMPUTER REPORTS RECORD OPERATING RESULTS FOR SECOND QUARTER
 GREENSBURG, Pa., July 15 /PRNewswire/ -- Sulcus Computer Corporation (AMEX: SUL) today reported record operating results for the second quarter and first half ended June 30, 1992. Net income for the second quarter rose 122 percent to $1,461,414, or $.12 per share on a weighted average of 12,367,309 shares, as compared to $656,217, or $.11 per share on a weighted average of 5,759,425 shares outstanding in the comparable period the year before. Revenues rose 90 percent to $9,278,095 from $4,887,699.
 First half net income rose 175 percent to $2,367,123, or $.20 per share on a weighted average of 11,940,026 shares from $859,835, or $.16 per share on a weighted average of 5,517,237 shares the year before. Revenues in the first half increased 74 percent to $15,704,907 from $9,003,818 in last year's first half.
 Jeffrey S. Ratner, chief executive officer, attributed the increases in revenue and profits to "the increasing acceptance in the hospitality industry of Sulcus as the most comprehensive developer of UNIX and DOS/LAN based automation systems which enhance productivity and profitability. Sulcus is attaining its objective of reaching towards critical mass through diversity of product offerings, placement of product in key establishments throughout the world and total revenues, putting us in a position to further consolidate the industry and become the one-stop-shop for purchases of hospitality automation systems. We are confident of our ability to continue a vigorous growth pattern."
 Ratner noted that Sulcus' service and support revenues increased by 57 percent in the first half to $5,456,383 from $3,485,023 in last year's first half. "Receiving ongoing revenues from a broad customer base provides stability of earnings, and the continuing growth of this stream of income speaks to the satisfaction by our customers of the products and services offered by Sulcus."
 Ratner added that "Primary focus has been on gross profit and recurring revenues for our software products. Hardware sales, other than Sulcus computers, have been de-emphasized and are not accepted if gross profit margins are below established minimums. Net income increased primarily due to increased revenues, strategic acquisitions and alliances, synergistic and other cost reductions, as well as increases in gross margins and recurring revenues."
 Sulcus Computer Corporation is a leading developer of automated systems for the hospitality, legal and real estate markets. Sulcus systems are in operation in more than an estimated 4,500 hotels, resorts, restaurants and country clubs in six continents, worldwide. Customers include such names as Hilton, Sheraton, Marriott, Sfuzzis, Embassy Suites, Nikko, Holiday Inn, Four Seasons, Canadian Pacific, ChiChis's, Radisson, Le Meridien, ANA. Clubhouse Inns, Marie Callandar's, Regent and Novatel.
 SULCUS COMPUTER CORPORATION
 Summary Income Statement
 (Unaudited)
 Period ended Three months Percent
 June 30 1992 1991 Change
 Total revenues $9,278,095 $4,887,699 +90
 Net income (A) 1,461,414 656,217 +122
 Earnings per common
 share and common
 share equivalents .12 .11 +7
 Weighted average number
 of common shares 12,367,309 5,759,425 +115
 (A) Includes tax benefit from loss carryforward of $556,723, or $.05 per share, in 1992 and $262,487, or $.04 per share, in 1991.
 Period ended Six months Percent
 June 30 1992 1991 Change
 Total revenues $15,704,907 $ 9,003,818 +74
 Net income (B) 2,367,123 859,835 +175
 Earnings per common
 share and common
 share equivalents .20 .16 +25
 Weighted average number
 of common shares 11,940,026 5,517,237 +116
 (B) Includes tax benefit from loss carryforward of $729,523, or $.06 per share, in 1992 and $343,934, or $.06 per share, in 1991.
 -0- 7/15/92
 /CONTACT: Jeffrey S. Ratner, chairman & CEO of Sulcus Computer, 412-836-2000/
 (SUL) CO: Sulcus Computer Corporation ST: Pennsylvania IN: CPR SU: ERN


TQ-OS -- NY009 -- 9448 07/15/92 10:19 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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