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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SALES SURGE AT SWK TECHNOLOGIES Featured
SilverSun 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.
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