Magic Software Enterprises Ltd - MGIC STOCK NEWS

Magic Software Enterprises (MGIC) reported strong financial results for the fourth quarter and the full year ended December 31, 2022. Net income surged by 38.6% YoY to a record $40.7 million, with revenues hitting $566.8 million, up 18.0% YoY. Q4 revenues reached $147.1 million, marking a 10.6% increase, while diluted EPS rose to $0.20. Non-GAAP metrics also showed growth, with non-GAAP net income for the year climbing to $52.0 million. The company introduced a 2023 revenue guidance of $585-$593 million, suggesting a favorable outlook. A cash dividend of 30 cents per share was declared, reflecting confidence in financial health.

Magic Software (MGIC) announced strong financial results for Q3 2022, with record revenues of $144.0 million, reflecting a 19.1% year-over-year increase. Operating income surged 34% to $16.1 million, and net income rose 53.3% to $11.5 million, with diluted EPS at $0.23. For the first nine months, revenues grew 20.8% to $419.6 million, with annual guidance adjusted upward to $555-$565 million. The growth is attributed to increasing demand for their digital technology solutions and continued investment in innovation.

Magic Software Enterprises (MGIC) reported strong second quarter 2022 results, with revenues reaching $137 million, up 15% year-over-year. Operating income also increased by 16% to $14.7 million. Non-GAAP financial metrics mirrored this growth, with non-GAAP operating income at $17.6 million, a 10% rise. Additionally, net income rose 21.9% to $9.5 million, maintaining diluted EPS at $0.16. For the first half of 2022, revenues grew 21.7% to $275.7 million. The company raised its annual revenue guidance to $545-$555 million, reflecting 13.5% to 14.5% growth.

Magic Software Enterprises Ltd. (MGIC) announced the filing of its annual report for the year ended December 31, 2021, with the U.S. Securities and Exchange Commission. The report includes audited financial statements and is accessible on the company’s website. Shareholders can request a hard copy free of charge. Magic Software is recognized as a global provider of mobile and cloud-enabled application and business integration platforms, emphasizing its commitment to delivering innovative IT solutions.

Magic Software Enterprises reported a strong Q1 2022, achieving record revenues of $138.7 million, marking a 29.3% increase year-over-year. Operating income rose 31% to $15.9 million, with non-GAAP operating income also hitting a record $18.9 million. Net income attributable to shareholders was $9.6 million ($0.20 per diluted share), a 27.5% increase from last year. The company has raised its 2022 revenue guidance to $540-$550 million, indicating expected growth of 12.4%-13.5%.

Magic Software Enterprises (NASDAQ: MGIC) reported strong financial results for Q4 and the year ending December 31, 2021. Q4 revenues surged 27.2% to $133.0 million, with operating income rising 30.2% to $14.3 million. For the full year, revenues increased 29.4% to $480.3 million and operating income grew 26.2% to $51.2 million. However, diluted EPS was negatively impacted, declining 54.5% in Q4 to $0.05 due to non-controlling interests. The company announced a cash dividend of $0.216 per share, payable on April 7, 2022, while providing revenue guidance for 2022 between $535 million and $545 million.

Magic Software Enterprises Ltd. (NASDAQ: MGIC) reported a strong third quarter for 2021, with revenues reaching $120.9 million, up 27.4% compared to $94.9 million in Q3 2020. Operating income increased 9.2% to $12.0 million, while non-GAAP operating income rose 14% to a record $16.2 million. Net income attributable to shareholders was $7.5 million, or $0.15 per diluted share, a 5.8% increase year-over-year. The company's nine-month results also show substantial growth, with revenues of $347.3 million, a 30.3% increase. Magic has raised its full-year revenue guidance to between $470 million and $475 million.