March 16, 2011
Annual Profits Grow For ViryaNet
By Christina Davis
Net income was down for the fourth quarter but up for the full year for Southborough-based software company ViryaNet Ltd.
The company's fourth-quarter profit totaled $108,000, a 25-percent drop over the same period a year before. But the annual profits increased 35 percent to $669,000.
The increase in annual profits mirrored an increase in total revenues, which rose 6.7 percent from $10.4 million in 2009 to $11.1 million in 2010.
ViryaNet's cash balance for the year fell from $156,000 to $97,000, while its overall short- and long-term bank debt was reduced by about $300,000 to $1.4 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments