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Magic Software Enterprises Ltd (symbol: MGIC) is a leading provider of software solutions and IT professional services. With over 30 years of experience, the company empowers customers and partners globally with advanced technology that ensures a multi-channel user experience. Their future-proof platforms offer a productive environment for streamlined development and deployment, facilitating the effective integration of core business applications. This includes scalable deployments across multiple channels such as on-premise, web (HTML5), rich internet, mobile, and SaaS.
Magic Software operates through two main segments: Software Services and IT Professional Services. The latter generates the maximum revenue by offering comprehensive IT services in infrastructure design, application development, technology planning, implementation services, communication solutions, and supplemental outsourcing services.
The company leverages strategic alliances with global IT leaders, including IBM, Microsoft, Oracle, Salesforce, and SAP, to help clients seamlessly adopt new technologies and maximize business opportunities. With a presence in over 50 countries and 14 regional offices, Magic Software maintains a strong global footprint and collaborates closely with its clients to deliver tailored solutions.
Most of Magic Software's revenue is derived from the United States, but it also has significant operations in Israel, Europe, Japan, and other countries. The company's recent achievements include robust financial performance for the second quarter of 2023 and the declaration of a dividend for the first half of 2023.
With millions of installations worldwide, Magic Software's products and services are designed to be deployed with minimal effort while maximizing existing assets. Their innovative, metadata-driven approach ensures that clients get the most out of their technological investments.
Magic Software Enterprises (MGIC) reported a strong second quarter for 2021, with revenues surging 37.7% year-over-year to $119.2 million. Operating income also increased by 29% to $12.7 million. Non-GAAP operating income rose 30.2% to $15.9 million. Net income attributable to shareholders grew 35.6% to $7.8 million, translating to $0.16 per diluted share. The company raised its revenue guidance for 2021 to $450-$460 million, reflecting 22.2%-23.9% annual growth. A semi-annual cash dividend of 23.4 cents per share was declared, representing approximately 75% of distributable profits.
FactoryEye, a division of Magic Software, is collaborating with global manufacturer Aplix to implement its Industry 4.0 solution at two US facilities near Charlotte, NC. This machine learning-based system aims to enhance productivity by providing real-time data on machine performance, downtime, and product quality. Aplix will leverage FactoryEye's certified connection to JD Edwards ERP for actionable intelligence. The partnership is expected to offer significant ROI and improve manufacturing processes within 90-day sprints.
Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) filed its annual report for 2020 with the U.S. Securities and Exchange Commission. The report contains audited consolidated financial statements and is available on the company’s website. Shareholders can request a hard copy free of charge. As a global provider of integration and application development platforms, Magic focuses on mobile and cloud-enabled solutions.
Magic Software Enterprises Ltd. (NASDAQ: MGIC) reported strong first-quarter results for 2021, with revenue increasing by 25.9% to $107.3 million from $85.2 million year-over-year. Gross profit rose 19.8% to $30.2 million, while net income grew 28.9% to $7.5 million, or $0.15 per share. Operating income jumped 39.6% to $12.2 million, reflecting improved margins. Magic Software has raised its 2021 revenue guidance to $425-$435 million, indicating anticipated growth of 13.5%-17.2%.
Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) announced it will report its financial results for Q1 2021 on May 10, 2021. Management will host a conference call at 10:00 a.m. EDT to discuss these results. Magic Software, with over 35 years of experience, is a leader in end-to-end integration and low-code application development platforms. The company emphasizes its strategic alliances with global IT leaders to enhance its service offering.
Magic Software Enterprises Ltd. (NASDAQ: MGIC) has launched FactoryEye, an innovative IIoT solution tailored for North American manufacturers. This platform enables real-time data collection from existing machinery, fostering continuous improvements in manufacturing processes. Targeted at mid-sized manufacturers across various sectors like automotive and food & beverage, FactoryEye enhances operational efficiency without necessitating costly equipment upgrades. The solution integrates seamlessly with existing systems, ensuring real-time visibility and actionable insights, propelling manufacturers towards Industry 4.0.
Magic Software Enterprises (MGIC) reported a strong financial performance for Q4 and the full year 2020. Q4 revenues grew 15% to a record $104.6 million, with operating income increasing 26% to $11.0 million. For the full year, revenues rose 14% to $371.2 million, and operating income climbed 21% to $40.6 million. Net income for 2020 was $25.2 million ($0.49 per share), up 24% year-over-year. The company announced a semi-annual cash dividend of $0.21 per share, payable April 7, 2021. Guidance for 2021 projects revenue growth between 13% and 16%.
Magic Software Enterprises Ltd. (NASDAQ: MGIC) reported strong financial results for Q2 and the first half of 2020, with revenues up 12% to $86.5 million and net income increasing 19% to $5.7 million or $0.12 per diluted share. For the first half, revenues reached $171.7 million, a 15% increase, while net income rose 14% to $11.6 million. The company maintains its full-year revenue guidance of $350 million to $360 million. Additionally, a semi-annual cash dividend of $0.175 per share was declared, reflecting 75% of distributable profits.
Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) announced it will report its Q2 2020 financial results on August 13, 2020. A conference call will follow at 10:00 a.m. EDT, where management will discuss the results. The company provides integration and low-code application development platforms, with over 35 years of experience and strategic alliances worldwide. Investors are encouraged to join the call or access the replay on the company's website.
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