Magic Software Enterprises Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 06:35 am EDT
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Magic Software Enterprises Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 137.58 million compared to USD 136.98 million a year ago. Net income was USD 11.29 million compared to USD 9.55 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to USD 0.19 a year ago.
For the six months, sales was USD 280.02 million compared to USD 275.68 million a year ago. Net income was USD 21.4 million compared to USD 19.27 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 0.39 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 0.39 a year ago.
Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business. It operates through two segments: software solutions and IT professional services. The software services segment includes software technology and complementary services. The IT professional services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, and communications services and solutions. Its product portfolio includes Magic xpa Application Platform, AppBuilder Application Platform and Magic xpi Integration Platform. Its vertical software packages include Leap, Hermes Solution, HR Pulse and MBS Solution.
MAGIC SOFTWARE ENTERPRISES LTD. 
