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SWK PARENT POSTS STRONG 2Q Featured

 SilverSun Technologies, parent of reseller SWK Technologies, rebounded to a profit year-over-year on a 24.6-percent rise in revenue for the second quarter ended June 30. 

Net income of 343,361 for the most recently ended period, compared to a loss of $87,766 a year ago. Revenue rose 24.6 percent to $13.3 million from $10.6 million in last year’s corresponding period. Both services and software revenue experienced double-digit growth. Software revenue was $3.3 million, up 18.5 percent from $2.8 million a year earlier. The company did not single out the performance of any of its software products. Services did even better reaching slightly less than $10 million, an increase of 26.8 percent from $7.9 million a year ago. In a prepared statement, CEO Mark Meller said the previous difficulty in recruiting personnel has eased. “We have started to see a shift in the labor market, and we have been successful in recruiting very experienced consultants to add to our team,” he said. He also noted junior consultants hired last year in an in-house training initiative are now added to capacity and results.

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