Hogan Systems Inc, Dallas has received a blow from IBM Corp, which served notice that the professional services subcontract between IBM and Hogan for the installation of IBA software at First Financial Management Corp is being terminated: the cessation of the project is a by-product of the settlement of a suit between IBM and First Financial; Hogan was not a party to the action and was not implicated in the suit; the company expects there to be a short-term impact on revenues and operating results for the remainder of this fiscal year to March 31, 1993; professional services revenue applicable to the subcontract was expected to be around $2.5m for the fourth quarter of the 1993 fiscal.
