Envoy Corp., which has agreed to sell its merchant point of sale operations to First Data Corp., said revenues rose 27% in 1994, to $54.4 million.

The Nashville-based transaction processor reported virtually no change in net income, at $4.7 million, or 41 cents a share. But that came after more than $2.5 million of nonrecurring charges equaling 14 cents a share, including $1.5 million related to the merger.

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