Formula Systems 1985 Ltd - FORTY STOCK NEWS

Formula Systems (FORTY) reported strong financial performance for the second quarter and first half of 2022, with revenues increasing by 9.6% to $644.6 million in Q2 and 12.2% to $1.3 billion for the first half. Operating income surged 97% to $99.5 million for Q2, largely due to a $44.2 million capital gain from a subsidiary sale. Net income rose 147% to $32.9 million in Q2, or $2.12 per diluted share. The company maintained strong equity levels and compliance with financial covenants, signaling robust financial health.

Formula Systems (Nasdaq: FORTY) reported robust financial results for Q1 2022, achieving a 14.8% increase in revenues to $657.6 million and a 30.7% rise in net income to a record $16.2 million. Operating income surged by 25.2% to $59.4 million. The company maintained strong financial health with $570 million in cash and equivalents and compliance with all debenture covenants. CEO Guy Bernstein highlighted strong demand for the company's software solutions, setting a positive outlook for future growth.

Formula Systems (1985) Ltd. (NASDAQ: FORTY) announced the filing of its annual report on Form 20-F for the year ended December 31, 2021, with the U.S. Securities and Exchange Commission (SEC). This report includes audited consolidated financial statements, which are accessible on the SEC website and the Company’s investor relations page. Shareholders can request a hard copy of the annual report free of charge by contacting the Investor Relations department.

Formula Systems (NASDAQ: FORTY) reported record-breaking financial results for Q4 and the full year of 2021. Q4 revenues surged 21.3% to $658.7 million, while operating income rose 30.2% to $59.6 million. Full-year revenues increased 24.4% to $2.41 billion, with net income attributable to shareholders at $54.6 million, or $3.50 per diluted share, marking a 16.7% annual increase. The board approved a dividend of approximately $12.0 million, reflecting a growing commitment to return value to shareholders. The company remains in compliance with its debenture covenants.

Formula Systems (NASDAQ: FORTY) reported strong financial results for Q3 and the first nine months of 2021. Revenues rose by 20.3% to $586.3 million in Q3, compared to $487.3 million last year. Operating income saw an 11.2% increase to $50.5 million. Net income attributable to shareholders grew by 5.2% to $13.3 million, or $0.85 per share. For the first nine months, revenues surged 25.6% to $1.75 billion. Cash reserves stood at $495.1 million, reflecting a solid financial position. All financial covenants remain compliant.

Formula Systems (NASDAQ: FORTY) reported robust financial results for Q2 2021, with revenues soaring by 34.5% to $587.9 million and operating income rising 24.1% to $50.5 million. Net income increased 18.7% to $13.3 million, translating to $0.86 per diluted share. For the first half of 2021, revenues climbed 28.5% to $1,160.5 million, while net income grew 15.7% year-over-year. The company's board declared a cash dividend of approximately $12 million to be paid on September 22, 2021. As of June 30, 2021, Formula held substantial equity positions in several subsidiaries, maintaining strong compliance with financial covenants.

Formula Systems (NASDAQ: FORTY) reported a strong first quarter for 2021, with revenues rising 22.8% to $572.6 million and operating income increasing by 22.3% to $47.5 million. Net income attributable to shareholders was up 12.7% to $12.4 million, or $0.80 per diluted share. The company maintained high equity levels of $1,103.7 million and compliance with debenture covenants. Sapiens and Matrix both showed notable growth, with Sapiens raising its revenue guidance for 2021, while Matrix reported a backlog increase of 12.5%. Overall, the results reflect robust execution of the growth strategy.

Formula Systems (NASDAQ: FORTY) reported impressive financial results for Q4 and the full year 2020, showcasing significant growth.

Q4 revenues jumped 21.2% to $543.2 million, while net income increased 19.1% to $11.9 million ($0.76/share). For the year, revenues rose 13.7% to $1.93 billion, with net income of $46.8 million ($3.01/share), a 20.5% increase.

The company highlighted strong performance across its subsidiaries, maintaining robust cash reserves of approximately $533.2 million and demonstrating compliance with financial covenants.

Sapiens International Corporation (NASDAQ: SPNS) reported strong financial results for Q4 and the full year 2020, highlighting a 17.2% increase in revenue to $101.7 million for Q4 compared to Q4 2019. Gross profit rose 18.4%, reaching $41.4 million, while diluted EPS increased by 15.4% to $0.15. For the full year, revenue was $382.9 million, a 17.6% growth from 2019. Sapiens anticipates 2021 Non-GAAP revenue between $457 million and $463 million, indicating ongoing positive momentum as they leverage recent acquisitions.