This Week
  • GM injection: The automaker has invested $150 million here since 2011.

  • East High School teacher and blogger Kelly LaLonde speaks out about education.

  • HBT Architects took a risk and parted with some clients on its new path.

  • Placing a loved one in an elder care facility is not an easy decision for caregivers.

  • Robert W. Hurlbut heads a 1,400-employee business started by his grandparents.

  • The new edition of Explore Greater Rochester is here.

Profit dips, revenue rises at Veramark

Rochester Business Journal
May 14, 2013

Veramark Technologies Inc. saw its profit decline slightly in the first quarter even as it logged a rise in revenue.

The Pittsford-based telecommunications expense management company reported net income of $20,000, or less than a penny a share, compared with net income of $80,000, or a penny a share, a year ago.

Veramark logged revenues of $3.85 million for the quarter, up from $3.61 million.

The first-quarter results included $193,000 in expenses associated with Veramark’s proposed merger with Varsity Acquisition LLC. The company announced this month it had agreed to be acquired by Varsity, a small private-equity firm based in San Ramon, Calif.

The deal, which would be worth roughly $10.5 million, is in the midst of a 45-day go shop period when Veramark can reach out to investors and other private-equity firms for a higher offer.

(c) 2013 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