TMCnet News
Magic Software reports Q2 net profit up 84%Aug 03, 2011 (M2 EQUITYBITES via COMTEX) -- Magic Software Enterprises Ltd (NASDAQ:MGIC), a provider of mobile and cloud-enabled application and business integration platforms, reported today that its net income for the second quarter of 2011 grew 84% year-on-year to USD3.5m, compared with USD1.9m in the same quarter last year. Operating income for the period was USD3.4m, an increase of 62% from USD2.1m in the second quarter of 2010. The company recorded second-quarter revenues of USD27.4m, up 27% compared with USD21.5m in the second quarter last year. CEO Guy Bernstein said that Magic Software achieved double-digit overall growth for the seventh consecutive quarter and saw continued growth in revenues and profits in all of its regional centres of activity. Comments on this story may be sent to [email protected] |