ViryaNet Sees Growth In 2012
Westborough-based mobile software services firm ViryaNet Limited marked gains in revenues and profits in its fourth quarter of 2012 and for the full year.
For the quarter, ended Dec. 31, ViryaNet reported total revenues of $2.9 million, an 11.6-percent increase over the same period in 2011. Net income for the quarter was $369,000, or 9 cents per share, compared to net income of $309,000, or 8 cents per share in 2011.
Meanwhile, total revenues for the full fiscal year were up 10.8 percent in 2012, to $10.7 million. The company bounced back from a loss of $219,000, or 6 cents per share in 2011, to profits of $911,000, or 21 cents per share.
“The robustness of our products and services and the capabilities of our partners continue to strengthen our position and will allow us to sustain our growth over the long term,” said President and CEO Memy Ish-Shalom. “This momentum was well-reflected in the fourth quarter, in which we were awarded the business of five new customers in North America, (Europe, the Middle East and Africa) and South America through our partners and direct sales.”
WBJ Web Partners
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