That came despite a 3.6-percent drop in revenue, primarily from decreased sales of custom work for its Skye Multimedia subsidiary.

Revenue dropped to just under $17 million for the year just ended, down from $17.6 million a year earlier. Revenue for accounting/finance and related products was flat at $13 million. The company said there was a $232,000 reduction in compensation expense, which included reduced headcount. However, in an earnings webcast, CEO Allen Greene expressed cautious optimism and noted that SmartPros is gearing up for growth.

"We have recently seen more activity related to sales opportunities and have begun to hire additional sales and sales support personnel," he said. Greene reported that the company is emphasizing cross selling in its verticals. Among these efforts is the new Accounting & Finance Technology monthly subscription that is designed for those individuals with audit oversight in corporate IT departments.