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Thursday, August 14, 2014 10:36:18 PM
The numbers, like it or not, really do speak for themselves. I appreciate how personal this is to you and might feel the same had I had a similar past.
That said, living in the now, I can only evaluate the current facts. Here they are again for reference, as filed with the SEC.
Financial Highlights for Three Months Ended June 30, 2014 Compared to Three Months Ended June 30, 2013:
Revenues increased to $5,254,492, rising 36% from $3,870,598.
Software sales climbed 79% to $946,803 from $528,368.
Services revenues totaled $4,308,139, increasing 29% from $3,342,230.
Income from operations rose to $132,729 from income from operations of $77,339, an increase of 72%.
Net income was $59,890, or $0.00 earnings per basic and diluted share, compared to net income of $62,185, or 0.00 earnings per basic and diluted share.
Financial Highlights for the Six Months Ended June 30, 2014 Compared to the Six Months Ended June 30, 2013:
Total revenues rose 29% to $10,179,567 from $7,915,137.
Software sales were $1,556,773, up 25% from $1,244,628.
Services revenues increased 29% to $8,622,799 from $6,670,509.
Income from operations rose to $334,371, up 60% from $208,979.
Net income totaled $180,631, or $0.00 per basic and diluted share, rising from net income of $177,715, or $0.00 loss per basic and diluted share.
The Company generated $306,491 in net cash from operations, which compared to cash generated of $286,880 in its operations in the prior year.
During the first six months of 2014, the outstanding balance of the Company's revolving bank line of credit was $0, bringing the total amount available under the line at June 30, 2014 to $750,000.
As of June 30, 2014, the Company had $938,541 in cash and cash equivalents; $1,785,932 in accounts receivable; long term debt of $330,237; and total stockholders' deficit of $117,638.
Operational Highlights for the Six Months Ended June 30, 2013
Sales of the Company's proprietary, cloud-based business management solutions created specifically for the U.S. craft brewery and distribution industry have continued to increase since its introduction to market in early 2012; and the number of new sales prospects continues to climb.
In association with the Company's national expansion strategy, SWK Technologies, Inc., SilverSun's principal operating subsidiary, acquired ESC Software, a leading Arizona-based reseller of Sage Software and Acumatica applications. The deal will add more than $1,700,000 in annual revenue and will be immediately accretive to SilverSun's earnings. The acquisition, which cost $350,000, will be paid out over a five year term.
The Company has continued to grow its Sage ERP X3 practice, booking several major orders during the period. Management further reported that it is currently managing record volume of new business opportunities in its sales pipeline.
Recent SSNT News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 08:21:16 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/13/2024 09:26:31 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 01/19/2024 10:27:28 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 01/16/2024 11:18:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/09/2024 10:40:25 PM
- Form 5 - Annual statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/08/2024 02:57:13 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 01/05/2024 10:16:38 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/28/2023 09:20:26 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 12/19/2023 10:13:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/19/2023 09:15:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/15/2023 11:20:02 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/14/2023 02:53:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 02:57:26 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 02:56:37 AM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 12/13/2023 10:23:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/13/2023 03:19:11 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 12/12/2023 02:19:07 PM
- Brad Jacobs to Enter Building Products Distribution Industry • GlobeNewswire Inc. • 12/11/2023 12:00:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 12/07/2023 02:59:37 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/04/2023 09:19:45 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 12/04/2023 01:09:36 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/04/2023 01:08:25 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 11/27/2023 09:53:58 PM
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