Magic Software Enterprises Ltd Stock Price, News & Analysis

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.

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.