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THINGS CLICK IN SWK'S QUARTER Featured

swkSWK Technologies turned in a solid performance for its third quarter ended September 30. The numbers were reported this week by the reseller's parent, SilverSun Technologies, but SWK is the only parent's only operating business. Net income hit $2.8 million in the most recently ended period, up sharply from $16,464 a year earlier, bumped up by a $2.3-million tax benefit.

However, operating income also rose nicely to $502,247, more than nine times the $48,348 reported in last year's corresponding period. Revenue hit $9.5 million, an increase of 33 percent from $7.2 million a year ago. One of the best signs for the company was that product sales almost doubled to $1.7 million from $864,698. SilverSun provided about as vanilla an explanation as possible for the performance in its Form 10-Q. According to the SEC filing, "The overall increases are primarily due to the Company's continued sales and marketing efforts and increased business activity associated with the acquisitions the Company completed in 2015." The biggest portion of revenue came, as always, from services. That category totaled $7.9 million for the quarter, an increase of 23.5 percent from $6.3 million the prior year.

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