Sales of Acumatica and third-party products drove increases in sales for reseller SWK Technologies for the second quarter ended June 30. That is an interpretation of results for SWK’s parent, SilverSun Technologies. SWK represents the overwhelming part of Silver Sun’s revenue.

For the most recently quarter just ended, the net loss was $2,890, compared to net income of $17,218 a year earlier. Revenue reached $10.4 million, an increase of 7.7 percent from $9.7 million in last year’s corresponding period. Software sales jumped 17.1 percent to $1.6 million from $1.37 million. Service revenue for the most recently ended period was $8.8 million, up 6.1 percent from $6.3 million. The company listed combined results for three acquisitions, ISM, Nellnube and Partners in Technology as $79,165 in net income before taxes and revenue of $929,347 and $402,564 in operating expenses. The acquistions contribuuted to a 10.2-percent increase in G&A expenses, with salaries of the additional management personnel contributing. It in its SEC filing, SilverSun said its managed service business now has “MRR in excess of $400,000, and continues to grow.” Also, its  enterprise cybersecurity initiative, offered in partnership with CyberHat “has closed several transactions, with several large transactions expecting to close in the next few months.”

Last modified on Friday, 09 August 2019
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