Welcome to our dedicated page for Formula Systems news (Ticker: FORTY), a resource for investors and traders seeking the latest updates and insights on Formula Systems stock.
Formula Systems (1985) Ltd. (Nasdaq and TASE: FORTY) is a global information technology holding company that regularly publishes detailed financial and corporate updates. Through its subsidiaries and affiliates, the company is engaged in software consulting services, computer-based business solutions and the development of proprietary software products, and these activities are reflected in its recurring news flow.
News about Formula Systems often centers on quarterly and annual financial results, reported via press releases and accompanying Form 6-K filings. These updates include consolidated performance for the group and information about key holdings such as Matrix IT Ltd., Sapiens International Corporation N.V., Magic Software Enterprises Ltd. and the Michpal Group. The company’s communications also highlight technology themes across the group, including cloud, cyber, digital solutions, data, DevOps, InsureTech and AI.
Investors following FORTY news can expect announcements on revenues, operating income and net income for the group, as well as comments from management describing business trends across subsidiaries. The company also issues news on dividends approved by its board of directors, compliance with financial covenants under its secured debentures, and developments related to potential or actual debenture offerings in Israel.
Formula Systems’ news flow frequently includes updates on strategic activities at the subsidiary level. Examples disclosed in recent communications include acquisitions completed by Sapiens, revenue guidance updates at Magic Software, public offerings by portfolio companies such as TSG IT Advanced Systems Ltd. and Michpal Technologies Ltd., and an agreement for the acquisition of Sapiens by Advent with Formula Systems retaining a minority stake. The company has also reported on a planned merger of Magic Software into Matrix IT, described as a significant transaction in the Israeli IT sector, subject to regulatory and shareholder approvals.
This news page aggregates such announcements, allowing readers to review financial results, capital markets activity, corporate governance developments and technology-focused initiatives across the Formula Systems group. For those tracking the FORTY stock, the news feed provides a centralized view of how the holding company and its subsidiaries are evolving over time.
Formula Systems (FORTY) announced strong financial results for the year ending December 31, 2022, with net income rising by 49.1% year-over-year to a record $81.4 million. Despite a 3.6% decline in Q4 revenues to $633.9 million, constant currency figures showed an increase of 4.4%. The year saw consolidated revenues grow by 7.0% to $2.57 billion and operating income rise by 33.0% to $276.6 million. The company maintained strong equity at $1.18 billion, with significant compliance in financial covenants.
Formula Systems (FORTY) reported strong financial results for Q3 and the nine-month period ending September 30, 2022. Q3 revenues increased by 8.5% to $636.3 million, with net income rising 27% to $16.9 million or $1.09 per share. For the nine months, revenues grew 11% to $1.94 billion, and net income soared 69.2% to $66.1 million or $4.24 per share, boosted by capital gains of $44.2 million. The company declared a cash dividend of NIS 2.16 per share, payable on December 20, 2022.
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.
FAQ
What is the current stock price of Formula Systems (FORTY)?
What is the market cap of Formula Systems (FORTY)?
