The profit stemmed from a $10.3 million gain on the sale. Meanwhile, SilverSun reported revenue of $38.5 million for the most recently ended year, an increase of 6.6 percent from $36.1 million for 2018. The company had $6.9 million in product revenue last year, an increase of 29.2 percent from $5.3 million. Services revenue for 2019 was $31.6 million, up 2.7 percent from $30.8 million. SilverSun had an operating loss of $1.9 million last year, compared to an operating loss of $1.2 million for 2018. The company had little to say about the factors in growth, except that software sales were a factor.Last modified on Monday, 30 March 2020
MAPADOC SALE MAKES SILVERSUN NET Featured
The sales of its Mapadoc operations gave SilverSun Technologies its profit for the year. The company, parent to SWK Technologies, posted net income of $6.8 million for the year ended December 31, up from $262,432 the prior year.