Israel's Magic Software Q1 EPS $0.02 vs $0.01
Wednesday May 12, 5:10 am ET
JERUSALEM, May 12 (Reuters) - Israel's Magic Software Enterprises Ltd (Nasdaq:MGIC - News), reported the following results on Wednesday:
Consolidated Statement of Operations
(US Dollars in Thousands)
Three months ended
March 31,
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2004 2003
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(Unaudited) (Unaudited)
Revenues
Software sales $5,461 $4,077
Applications 1,664 1,664
Maintenance 2,795 2,579
Consultancy & other services 6,534 6,806
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Total revenues $16,454 $15,126
Cost of revenues
Software sales 1,248 816
Applications 620 245
Maintenance 803 591
Consultancy & other services 3,769 4,583
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Total cost of revenues $6,440 $6,235
Gross profit $10,014 $8,891
Research & development, net 1,205 1,006
Sales, marketing, and general &
administrative expenses 7,477 7,220
Depreciation 439 413
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Operating income $893 $252
Financial expenses (income), net 114 (45)
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Income before taxes $779 $297
Taxes on income -- (82)
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Income before minority Interest $779 $379
Minority interest in income of subsidiaries 61 107
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Net income $718 $272
Basic earnings (loss) per share $0.02 $0.01
Diluted earnings (loss) per share $0.02 $0.01
Weighted avg. shares outstanding (000's) 30,647 29,509
Diluted weighted avg. shares outstanding
(000's) 32,501 29,535
Contact:
Magic Software Enterprises Ltd.
Hilel Kremer, +972-3-538-9292
Vice President, Finance
Hilel_Kremer@magicsoftware.com
or
David Leichner, 949-250-1718 ext. 299
Vice President, Worldwide Marketing
davidl@magicsoftware.com
 
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