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SALES SURGE AT SWK TECHNOLOGIES Featured

 SWK  TechnologiesSilverSun Technologies, parent to Sage reseller SWK Technologies, saw a 3.7-percent dip in revenue for the second quarter ended June 30. But the Livingston, N.J.-based VAR, which represents all of SilverSun’s operations turned in a 35.7-percent increase in revenue. Net income was $59,890 in the most recently ended period, down from $62,185 a year earlier. Revenue hit $5.3 million, compared to $3.9 million in last year’s corresponding period. The company said software and consulting revenue increase primarily because of implementations of Sage X3.

Operations were also impacted by the purchase of Phoenix, Ariz.-based ESC Software last year. For the June quarter, ESC had revenue of about $124,000 and a net loss of $10,600. Following the acquisition, ESC president Alan Hardy remained with SWK as SVP of business development. The overwhelming part of SWK’s revenue comes from services, which produced $4.3 million of the total in the most recently ended period, a rise of 28.9 percent from $3.3 million a year earlier. G&A expenses hit just over $1 million, up 41.6 percent from $765,579 as the addition of new employees pushed up compensation and payroll-related expenses.

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