As it had in the prior quarter, SilverSun's revenue was up only 1 percent with product sales down and services revenue rising. That put some pressure on earnings with net income of $317,823 for the mostly recently ended quarter down sharply from $2.8 million a year earlier, which got a boost from a $2.3 million income tax benefit. Third-quarter operating income was $548,427, an increase of 9.2 percent over $502,247 the prior year. Revenue rose to $9.59 million, compared to $9.53 million in last year's corresponding period. As it had in the second quarter, SilverSun attributed the revenue problems to anticipated sales not closing. Software sales were $1.61 million for the quarter, down 5.8 percent from a year earlier. Service revenue was slightly less than $8 million, up 2 percent from $7.8 million. The company did not specify the contributions from any particular product.
Estimated reading time: 0 minutes, 45 seconds
SWK SALES REMAIN SLUGGISH Featured
Revenue growth for SilverSun Technologies remained sluggish for the third quarter ended September 30. Reseller SWK Technologies comprises all of the parent's operations.
Most Read
-
-
May 22 2017
-
Written by mark
-
-
-
May 22 2017
-
Written by BobWScott
-
-
-
May 19 2021
-
Written by BobWScott
-
-
-
May 25 2016
-
Written by mark
-