ViryaNet Revenue Flat, Profits Down
ViryaNet, which makes mobile workforce management software, reported flat revenue and a drop in net income for the second quarter, as the Westborough-based company cited deals that were not closed between April and June.
ViryaNet reported $2.5 million in revenue, down slightly from the second quarter of 2012. For the first six months of 2013, revenue was at $5.4 million, also down slightly – about 5 percent – from $5.7 million in the same period last year.
The company reported $101,000 in net income for the quarter, down by more than half from the second quarter of 2012, when it made $207,000. For the January-through-June period, net income was $344,000, trailing last year’s half-year mark of $623,000.
Memy Ish-Shalom, ViryaNet’s president and CEO, said the company is pleased with its growth despite the quarter’s results. He said those numbers “do not reflect the growth in our backlog or the increase in the size of opportunities in the pipeline.” He said 2013 will be “a solid year of growth.”
WBJ Web Partners
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