SilverSun, parent of reseller, SWK Technologies, took a $2.9 million one-time charge for the third quarter ended September 30. That resulted in a loss of $2.1 million, compared to earnings of $134,237. The deal died after being live for year with the parties unable to finish it. Ina prepared statement, CEO Mark Meller said, “This is a one-time charge, and will not hamper the Company’s ability to continue to fund its growth.” Revenue for the recently ended quarter was $13.4 million, an increase of 23 percent, from $10.9 million a year ago. Product revenue reached $2.9 million, up 14.8 percent from $2.5 million in last year’s corresponding period. Services
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MERGER END HURTS SILVERSUN NET Featured
The decision of SilverSun Technologies to call off a proposed merger with bit miner, Rhodium, hurt an otherwise good quarter.