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SULCUS COMPUTER SIGNS FIRST CONTRACTS IN DIVISION; PRICE WATERHOUSE JOINS AUDIT TEAM

 SULCUS COMPUTER SIGNS FIRST CONTRACTS IN DIVISION;
 PRICE WATERHOUSE JOINS AUDIT TEAM
 WEST PALM BEACH, Fla., Oct. 8 /PRNewswire/ -- Sulcus Computer Corporation (AMEX: SUL) "has signed its first contracts for its recently formed transaction/recurring revenue division, part of its Hospitality Group," Jeffrey S. Ratner, chairman and chief executive officer told shareholders attending the annual meeting held here today. Transaction income agreements have been signed for both property management and energy management systems with such properties as Marriott, Radisson and Rank, Mr. Ratner said. "If sold outright these initial contracts would in September have added more than $2 million to revenues, but instead will on a monthly basis produce a guaranteed minimum of $65,000 with the opportunity for larger sums dependent on occupancy rates."
 Mr. Ratner said that "the long-term goal of Sulcus has been to develop predictable, ongoing recurrent streams of income and the concept of maintaining a participation in income generated by certain proprietary, unique products has been central to the philosophy of our organization. Although these transaction income products have the capability of generating large revenues and profits through outright sales, the recurrent income soon exceeds the contribution of an outright sale, and provides our company with an easily visible second stream of ongoing profits. The first, our support service agreements which accompany all outright sales, generated more than $5.4 million or about one third of our $15.7 million total first half revenues. Combined with the repetitive nature of transaction income business, generated by contracts with the most important national and international hospitality organizations, the quality of Sulcus' earnings provides a comforting foundation for long range planning."
 Shareholders voting in person or by proxy ratified the selection of Price Waterhouse & Co. and Ferraro, Krebs & McMurty as the company's independent auditors for 1992. In addition, shareholders reelected as members of the board of directors for another year management's five-man slate, including Jeffrey S. Ratner, Sulcus chairman; Robert D. Gries, president of the Gries Companies and Gries Investment Company, venture capital and SBIC firms; Herbert G. Ratner, former chairman of the board of City Industries; Martin N. Ornitz, retired vice president of Colt Industries; and John W. Ryba, Sulcus general counsel.
 Sulcus Computer Corporation is a leading developer of automated systems for the hospitality, legal and real estate markets. Sulcus Hospitality systems are in operation in more than an estimated 4,500 hotels, resorts, restaurants and country clubs in six continents. Customers include such names as Sheraton, Marriott, Radisson, ANA, Embassy Suites, Nikko, Holiday Inn, Chi Chi's, Four Seasons, Canadian Pacific, Interstate, Clubhouse Inns, Sfuzzis, Regent and Novatel.
 -0- 10/8/92
 /CONTACT: Jeffrey S. Ratner, chairman and CEO of Sulcus, 412-836-2000, or at annual meeting at Palm Beach Airport Hilton, 407-684-9400/
 (SUL) CO: Sulcus Computer Corp. ST: Pennsylvania IN: CPR LEI SU: CON


AH-PS -- NY060 -- 7911 10/08/92 13:37 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
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