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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.


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