SWK had a busy year with acquisitions a major part of its activity. These included the purchases of Oates & Co., the Macabe Associates and PTI Data. SWK had $24.6 million in revenue for the year ended Dec. 31, 2104. Oates had $2.4 million in annual revenue; PTI, $1.7 million; and Macabe, $1 million. For the nine months ended September 30, SilverSun—whose revenue is exclusively from SWK—reported $19.6 million in revenue so it should beat the 2014 top line, although the lead time for X3 sales and revenue recognition for cloud products held down revenue growth for the third quarter. SWK also carries Sage 100 and 500, Acumatica and NetSuite. SilverSun said the possibility of future cash dividends would subject to its cash needs.
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SILVERSUN PAYS CASH DIVIDEND Featured
SilverSun Technologies, parent of reseller SWK Technologies, has declared a special cash dividend. The amount is six cents per share to holders of record on January 15. But for an organization that a few years ago looked very tenuous, this is a pretty remarkable development. "We believe this special one-time cash dividend—the first in our Company's history—is an appropriate way to reward our shareholders for their support," SilverSun CEO Mark Meller said in a prepared statement.
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