Veramark Reports Third Quarter 2009 Results

PITTSFORD, NY, Nov 11, 2009 (MARKETWIRE via COMTEX) --
VERA | Quote | Chart | News | PowerRating -- Veramark Technologies Inc. (OTCBB: VERA), a leading provider of
Telecom Expense Management (TEM) and Business Process Outsourcing
(BPO) solutions, today announced financial results for its third
quarter of 2009. Revenues of $2,511,000 for the quarter ended
September 30, 2009 and $7,513,000 for the nine months ended September
30, 2009 decreased from revenues of $2,724,000 and $7,934,000,
respectively, for the corresponding three and nine month periods of
2008. The net loss of $350,000, or $0.04 per share, for the quarter
ended September 30, 2009 is an improvement over the net loss of
$542,000, or $0.05 per share, reported for the second quarter of
2009. For the third quarter of 2008, Veramark incurred a net loss of
$36,000. Veramark's net loss of $1,072,000, or $0.11 per share, for
the nine months ended September 30, 2009 compares with a net loss of
$490,000, or $0.05 per share, for the first nine months of 2008.

"We are pleased with the progress we are making with new products and
services targeted at the TEM and BPO business segments," said Tony
Mazzullo, Veramark's President and Chief Executive Officer. "Combined
TEM and BPO revenues for the three and nine months ended September 30,
2009 were 78% and 35% higher, respectively, than for the same periods
last year. Revenue increases for TEM and BPO services were largely
offset by a decrease in revenues from the sale of call accounting
products and services, which have been adversely affected by current
economic conditions."

Veramark will conduct a teleconference, hosted by Mr. Mazzullo, to
discuss the 2009 third quarter results on Thursday, November 12, 2009,
starting at 11:00 AM Eastern Time. To access this teleconference,
dial 800-530-9010.

About Veramark Technologies, Inc.

Veramark is a leading provider of innovative enterprise solutions for
telecom and IT expense and performance management. Veramark solutions
provide visibility into operational expenses and generate actionable
business intelligence to help organizations reduce spend and optimize
business processes. Veramark solutions, which include software and
services for Telecom Expense Management (TEM) and Business Process
Outsourcing (BPO), enable best practices for managing complex unified
communications networks on a global scale. For more information,
visit www.veramark.com.

                        VERAMARK TECHNOLOGIES, INC.
                  CONDENSED STATEMENT OF OPERATIONS DATA
                                (Unaudited)
                                                    Third Quarter Ended
                                                       September 30,
                                                    2009          2008
                                                ------------  ------------
Sales                                           $  2,510,515  $  2,724,296
                                                ============  ============
Loss Before Taxes                                   (350,325)      (36,259)
Income Taxes                                               -             -
                                                ------------  ------------
Net Loss                                        $   (350,325) $    (36,259)
                                                ============  ============
Net Loss Per Diluted Share                      $      (0.04) $       0.00
                                                ------------  ------------
Diluted Weighted Average
 Number of Shares Outstanding                      9,913,731     9,620,814
                                                ============  ============
                                                      Nine Months Ended
                                                        September 30,
                                                    2009          2008
                                                ------------  ------------
Sales                                           $  7,512,584  $  7,934,225
                                                ============  ============
Loss Before Taxes                                 (1,072,376)     (490,095)
Income Taxes                                               -             -
                                                ------------  ------------
Net Loss                                        $ (1,072,376) $   (490,095)
                                                ============  ============
Net Loss Per Diluted Share                      $      (0.11) $      (0.05)
                                                ============  ============
Diluted Weighted Average
 Number of Shares Outstanding                      9,855,829     9,490,905
                                                ============  ============

Veramark and VeraSMART are registered trademarks of Veramark
Technologies, Inc. All other trademarks are the property of their
respective owners.

This report may contain forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. A variety of
factors could cause actual results to differ from the anticipated
results expressed in such forward-looking statements. These may
include but are not necessarily limited to changes in general
economic conditions in the United States and overseas, technological
changes in the telecommunications or computer industries, the timely
and successful launch of planned new products, the timely
installation and acceptance by end-user customers, and the impact of
competition or changes in the marketing strategies of major
distributors.

Media Contact:
Tony Mazzullo
President and CEO
Veramark Technologies, Inc.
(585) 381-6000
Email Contact

SOURCE: Veramark Technologies, Inc.

http://www2.marketwire.com/mw/emailprcntct?id=E4B1CE931FF79F4C

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