3Q Revenue Soars At ViryaNet
A boom in orders for its mobile management software propelled a 34-percent jump in year-over-year sales in the third quarter for ViryaNet of Westborough, the company reported Thursday.
ViryaNet reported quarterly revenue of $2.8 million, a jump from just under $2.1 million in the third quarter of 2012. It also reversed an $83,000 loss in the third quarter of last year and reported net income of $306,000, or seven cents per share.
For the first nine months of 2013, revenue is up nearly 6 percent at ViryaNet, to $8.23 million. Net income, meanwhile, is up 20 percent over the first nine months of 2012, from $541,000 to $651,000.
During the quarter, ViryaNet received multiple orders from new and current customers, including for both software licenses and services for its flagship product line, ViryaNet G4, as well as for its performance management practice offering. President and CEO Memy Ish-Shalom said an increase in license revenue was a key driver from July through September.
“Our disciplined approach to scoping deals and unique positioning with our distribution and implementation partners supports our commitment to profitably growing the company,” Ish-Shalom said in a statement.
WBJ Web Partners
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