Magic Software Enterprises Q2 Profit Rises, But EPS Flat

(RTTNews) - Magic Software Enterprises Ltd.(MGIC), a global provider of mobile and cloud-enabled application and business integration platforms, said that net income attributable to shareholders for the second quarter was $3.9 million or $0.09 per share compared to $3.5 million or $0.09 per share in the same period last year.

Operating income for the second quarter increased 26% to $5.1 million, compared to $4.1 million in the same period last year; Non-GAAP operating income for the second quarter increased 28% to $6.0 million, compared to $4.7 million in the same period last year.

Non-GAAP net income for the second quarter increased 24% to $4.7 million, compared to $3.8 million in the same period last year. Non-GAAP net earnings per share grew to $0.11 from $0.10 last year.

Revenues for the second quarter increased 17% year over year to $40.6 million from $34.8 million in the same period last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.11 per share and revenues of $39.27 million for the quarter. Analysts' estimates typically exclude special items.