Magic Software Enterprises Q2 Profit Rises, Backs 2015 Outlook - Quick Facts

(RTTNews) - Magic Software Enterprises Ltd.(MGIC), a global provider of mobile and cloud-enabled application and business integration platforms, reported that second quarter net income attributable to shareholders grew to $4.10 million from $3.85 million in the prior-year quarter, while earnings per share remained flat at $0.09.

Excluding items, adjusted net income for the latest quarter was $5.2 million or $0.12 per share.

Excluding the negative impact from foreign exchange rates, adjusted net income would have increased 20 percent to $5.78 million or $0.13 per share.

Revenues for the quarter increased 5 percent to $42.51 million from $40.63 million in the same quarter last year.

Excluding the negative impact from foreign exchange rates, revenues would have increased 11 percent to a record-breaking $45.2 million.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share and revenues of $41.85 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2015, revenues are still projected between $166 million and $173 million, on a constant currency basis.