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SWK NET UP ON GROSS MARGINS Featured

SWkSilverSun Technologies, the parent of reseller SWK Technologies, doubled its net profit on a 2.8-percent rise in revenue for the first quarter ended March 31. The results for Livingston N.J.-based SWK represent all of SilverSun's operations.

The bottom-line improvement obviously did not stem from the sluggish sales line but from the increase in gross margins, which rose to 42.3 percent for the most recently ended quarter from 37.7 percent a year earlier. Net income was $153,853, twice the $74,277 in last year's corresponding period. SilverSun's statement about results on its Form 10Q was terse, saying it grew its customer base. Gross margins increased for both its software sales and services income. Software income hit $906,905 in the March quarter, rising 5.4 percent from $860,442 a year earlier. Service revenue of slightly more than $7 million represented an improvement of 5.2 percent from $6.9 million in the first quarter of 2016. SilverSun did not single out the performance of any software and only commented that the increase in service revenue stemmed from project consulting services.

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