MellerMark newSilverSun Technologies, parent of SWK Technologies, reported a 12.7-percent increase in revenue for the first quarter ended March 31, driven by acquisitions. The company this week also said its purchase of ISM/Nellnube and Partners in Technology represented about $848,000 of a $1.2-million increase in sales.

Net income rose to $96,036 for the most recently ended quarter, up 64.5 percent from $58,387 a year ago. Revenue for the first quarter reached $10.5 million, compared to $9.3 million in last year's corresponding period. Service revenue, which represents the majority of income, was $8.8 million in the most recently ended period, a rise of 14.1 percent from $7.7 million. Software sales were $1.7 million, a 6-percent increase from $1.6 million a year earlier. Increases in software were across all product lines, “even Sage 100,” according to CEO Mark Meller. The company cited Sage and Acumatica but in its 10-Q form did not mention the NetSuite line. Operating expenses rose 12.6 percent to $4.3 million, up from $3.9 million.

Last modified on Friday, 17 May 2019
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