Estimated reading time: 0 minutes, 54 seconds

SALES & MARKETING CUTS SILVERSUN NET Featured

BJ O'Reilly, SWK TechnologiesA 44-percent rise in sales and marketing expenses contributed to drop in earnings for SilverSun Technologies for the third quarter ended September 30. That was a factor in a 46.3-percent decline in net income on a 20.4-percent increase in revenue.

Net income for SilverSun, parent of reseller SWK Technologies. dropped to $170,938 for the most recently ended quarter from $317,823 a year ago. Revenue reached $9.6 million in the quarter, up from $9.6 million a year earlier. A services revenue, the largest component of income, reached $9.6 million, a rise 20.4 percent from slightly less than $8 million in last year’s corresponding period. The remainder of revenue, software sales, was up 4.7 percent. S&M costs reached $1.7 million in the recently ended quarter compared to $1.2 million a year ago. The company attributed that change  “to increased activity due to acquisitions and the Partner Success Program with one of the publishers.” One of the acquisitions was of Information Systems Management in June. In its Form 10-Q, SilverSun reported its set the salary of ISM president BJ O’Reilly at $250,000 annually in his new role as chief technology officer.

 

Read 1215 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.