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EXPENSES CUT SILVERSUN'S PROFITS Featured

SWK Technologies A 24.4-percent increase in operating expenses cut into the bottom line for SilverSun Technologies, parent of reseller SWK Technologies, for the first quarter ended March 31. The East Hanover, N.J.-based company reported net income of $58,387 for the period just ended, down sharply from $153,853 a year earlier.

Revenue rose to $9.3 million, up 16.3 percent from slightly more than $8 million in last year’s corresponding period. Software performed well with SilverSun reported revenue of $1.6 million for that source in the first quarter, an 80.4-percent increase from $906,905 a year ago. Services revenue was reported at $7.6 million, a rise of 8.2 per cent from $7.1 million.  However, general and administrative expenses rose 20.8 percent and sales and marketing expenses increased by 39.2 percent.  SilverSun’s explanations for all figures was rather general. However, the software sales figure compared to a 12.1 percent increase for 2017 over 2016.

 

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