Estimated reading time: 0 minutes, 51 seconds


 A 59.8-percent increase of software sales countered a 1.4-percent drop in services revenue for SilverSun Technologies for the third quarter ended September 30. SilverSun’s primary operations are via its reselling arm SWK Technologies.

The company sharply cut its loss in the most recently ended period to $134,237, down from $240,029 a year ago. Revenue was $10.9 million, up 8 percent from $10.1 million in last year’s corresponding period. Software revenue rose to $2.5 million from $1.6 million while services revenue dropped to $8.4 million from $8.6 million. SilverSun did not attribute the software revenue increases to any specific product line--it carries Acumatica and Sage Intacct and 100.  It provided a broad statement about the drop in services revenue in its From 10-Q for the third quarter. It said the change was mainly from “lower maintenance revenues and lower consulting revenues, primarily because of project delays as a result of staffing and training, and postponements on the part of our customers as a result of challenges within their own businesses, including employee retention and general economic conditions impacting their organizations.”

Read 93 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.