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.

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
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