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PRODUCT SALES BOOST SILVERSUN Featured

A 13.2-percent increase in product sales helped lift SilverSun Technologies, parent to reseller SWK Technologies, to a profitable quarter. The company reported net income of $354,679 for the first quarter ended March 31, compared to a loss of $292,115 in last year’s corresponding period. P

roduct sales rose to slightly more than $2 million from $1.8 million while service revenue for the most recently ended quarter was $8.9 million, up 6.8 percent from $8.3 million a year earlier. Product sales rose from an overall increase in business while SilverSun reported the increase in service “is mainly attributed to increases managed services and application hosting as we continue to focus in this area due to the expertise and customers acquired in our acquisitions.” As has been true in the last few quarters, no specific software line was cited for performance. The bottom line benefited from a 11.4-percent declined in selling and marketing expenses to $1.7 million from $1.8 million, which reflected the lack of travel and entertainment expenses. SilverSun boosted its cash position with proceeds of $3.4 million from the sale of 393,300 shares of common stock

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