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MGIC Investment (MTG) has approved a $750 million share repurchase program, allowing the company to buy back its common stock. They also declared a quarterly dividend of $0.115 per share. The company plans to repurchase shares through various methods until December 31, 2026. Shareholders of record as of May 9, 2024, will receive the dividend on May 21, 2024.
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Melanie McFaddin with Wiley Bros – Aintree Capital & Partners, facilitated the acquisition of Theoris, Inc. by CoreTech Consulting Group, The acquisition expands CoreTech's presence in the Midwest, adding Theoris' IT staffing expertise and services to its portfolio. Theoris, founded in 1984, offers IT staffing, software development, engineering staffing, and consulting services to clients in various industries. The acquisition is expected to create new growth opportunities for Theoris and enhance services for clients in different markets.
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Magic Software Enterprises Ltd. announced its financial results for Q4 and full year 2023, showing a decrease in revenues, gross profit, operating income, and net income. The company faced a decline in demand from U.S. customers, impacting financial performance negatively. Despite challenges, Magic Software introduced 2024 revenue guidance with a growth outlook.
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Magic Software Enterprises Ltd. (MGIC) will report its financial results for Q4 and full year 2023 on March 13, 2024. A conference call to discuss the results will be held on the same day. Participants can join the call or access a replay through provided numbers and the company's website.
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Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) announced its financial results for the third quarter ended September 30, 2023. Revenues decreased by 10.1% to $129.5 million, and operating income decreased by 19.2% to $13.3 million. Net income decreased by 38.6% to $7.1 million. The company lowered its 2023 fourth quarter revenue guidance due to currency headwinds, decline in demand, and challenging macro-economic environment.
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Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) provided preliminary unaudited financial results for Q3 2023, revealing a substantial and unexpected decline in demand from U.S.-based blue-chip customers. This led to lower Q3 revenues and a partial impact on Q4 revenues. The outbreak of Israel’s war against Hamas and the devaluation of the NIS in relation to the U.S. dollar further impacted the Company's operations and revenue guidance for Q4 2023 and the full year of 2023. Q3 revenue is expected to be approximately $129.3 million, compared to the previous expectation of $142.4 million to $143.1 million. Non-GAAP operating income for Q3 is expected to be approximately $17.1 million, approximately 13.2% as a percentage of revenue, and the same as for the first half of 2023.
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Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) announced its financial results for the second quarter ended June 30, 2023. Revenues increased by 0.4% to a record-breaking $137.6 million. Operating income increased by 3.2% to $15.4 million. The company's 2023 annual revenue guidance range was lowered due to exchange rate headwinds and IT spending slowdown.
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Magic Software Enterprises Ltd
NYSE:MGIC
MGIC Rankings
MGIC Stock Data
603.43M
25.97M
46.64%
19.8%
0.03%
Software Publishers
Information
United States of America
Po Box 5011
About MGIC
magic software enterprises empowers customers and partners around the globe with smarter technology that provides a multi-channel user experience. our future-proof platforms provide a productive environment for streamlined development and deployment, and effective integration of core business applications, supporting scalable deployment on multiple channels, including on-premise, web (html5), rich internet, mobile, and saas. using a fresh metadata-driven approach and forward-looking expertise, we deliver products and services that can be deployed with minimal effort, while making the best use of existing assets. we draw on 30 years of experience, millions of installations worldwide, and strategic alliances with global it leaders, including ibm, microsoft, oracle, salesforce, and sap, to enable our customers to seamlessly adopt new technologies and maximize business opportunities. with a presence in more than 50 countries, including 14 regional offices, we collaborate closely with our c