This Week
  • LiDestri plans $6M expansion and to add 29 jobs.

  • Mark IV Enterprises has built some of the area's most notable projects.

  • Low interest rates prompt smaller banks to seek other ways to boost profit.

  • Auction Direct's growth strategy is to increase sales volume in existing locations.

  • The Schools Report Card has rankings for 27 districts and more than 250 schools.

  • Ram Balasubramanian works on engineering projects around the globe.

Profit, revenue rise at Veramark Technologies

Rochester Business Journal
November 8, 2012

Veramark Technologies Inc. saw an increase in profit for the third consecutive quarter as its revenues also continued to rise.

The Pittsford-based telecommunications expense management company reported Wednesday a net income of $247,000, or 2 cents a share, for the third quarter, up from $86,000, or a penny a share, a year ago.

Veramark logged revenues of $3.86 million, up from $3.43 million a year ago. The company’s backlog of recurring future revenues also increased to $13.8 million as of Sept. 30, up 10 percent from last year.

Veramark stock (OTCQP: VERA) was trading at 50 cents a share Thursday midday, down a nickel from Wednesday’s close.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google