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Author Topic: MGIC-GONNA BE A RUNNER
CAPTNEMOS
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A TON OF INSIDER BUYING LATELY.ALL ABOARD

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
metal1
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already a thread on this one a few threads down.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
CAPTNEMOS
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MY BAD.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
CAPTNEMOS
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ACTUALLY HIS THREAD WAS A LOSING THREAD.!!MY THREAD HAS BEEN RUNNING YO.!!! HE MADE THE PIC AND IT PLUMMETED.I MADE THE PIC ITS GOING UP.I HAVE A LOT OF FOLLOWERS WHO ONLY WANT MY PICKS.SORRY

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
CAPTNEMOS
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UP ANOTHER.40C TODAY.!!

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
CAPTNEMOS
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Magic Software Reports Record-Breaking Operating Results in the First Quarter of 2011
Magic Software Reports Strong Results for Q1 2011 with 68% Year-over-Year Net Income Growth

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Companies:Magic Software Enterprises Ltd.
Topics:Earnings
Related Quotes
Symbol Price Change
MGIC 6.80 -0.51

Press Release Source: Magic Software Enterprises Ltd. On Thursday April 28, 2011, 3:31 am EDT
OR YEHUDA, Israel, April 28, 2011 /PRNewswire/ -- Magic Software Enterprises Ltd. (NASDAQ:MGIC - News), a global provider of cloud and on-premise enabled application platforms and business integration solutions, today announced its financial results for the first quarter of 2011.

Financial Highlights for the First Quarter

First quarter revenues increased 29% year over year to $25.5 million from $19.7 million.

Operating income for the first quarter increased 78% year over year to $3.1 million, compared to $1.8 million in the same period last year.

Net income for the first quarter increased 68% year over year to $3.1 million from $1.9 million in the same period last year.

Operating cash flow for the quarter amounted to $4.8 million. Total cash and cash equivalents, short-term bank deposits and short-term investments in marketable securities as of March 31, 2011 amounted to $50.2 million.

Results

For the quarter ended March 31, 2011, total revenues were $25.5 million, with net income of $3.1 million, or $0.08 per fully diluted share. This compares with revenues of $19.7 million and net income of $1.9 million, or $0.06 per fully diluted share, for the same period last year.

Operating income for the quarter ended March 31, 2011, was $3.1 million, or $0.08 per fully diluted share. This compares to operating income of $1.8 million, or $0.05 per fully diluted share, for the same period a year ago.

Comments of Management

Commenting on the results, Guy Bernstein, Chief Executive Officer of Magic Software, said: "These strong results have continued the trend set in the previous quarter, once again breaking company records for revenues and profit, and sustaining double-digit overall growth year over year. Despite the slowdown we are experiencing in Japan due to the current crisis, and the sluggishness of the economic recovery in the US and Europe, Magic has continued to perform well in all centers of activity around the world."

"We have expanded our installed base globally by adding new customers. In addition, our existing customers have continued to upgrade their Magic products, migrating to our newest advanced technology offering. Moving forward, we have exciting new product launches for mobile and cloud environments scheduled for the coming months," concluded Mr. Bernstein.

Non-GAAP Financial Measures

This release includes non-GAAP operating income, net income, basic and diluted earnings per share and other non-GAAP financial measures. These non-GAAP measures exclude the following items:

Amortization of purchased intangible assets
In-process research and development capitalization and amortization and
Equity-based compensation expense


Magic Software's management believes that the presentation of non-GAAP measures provides useful information to investors and management regarding financial and business trends relating to the Company's financial condition and results of operations as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Magic Software believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Magic Software's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Magic Software's results of operations in conjunction with the corresponding GAAP measures.

Refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

About Magic Software

Magic Software Enterprises Ltd. (NASDAQ:MGIC - News) is a global provider of cloud and on-premise application platform and business integration solutions. For more information, visit http://www.magicsoftware.com

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.

Magic is the trademark of Magic Software Enterprises Ltd.

Press contact:

Tania Amar
Magic Software Enterprises
Tel: +972 (0)3 538 9300
Email: tania@magicsoftware.com

MAGIC SOFTWARE ENTERPRISES LTD.
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share data)


Three months ended

March 31,

2011

2010

Unaudited
Revenues
25,488

19,711
Cost of Revenues
15,156

11,247
Gross profit
10,332

8,464
Research and development, net
366

631
Selling, marketing and general and


administrative expenses
6,835

6,079
Total operating costs and expenses
7,201

6,710
Operating income
3,131

1,754
Financial income, net
102

113
Other income, net
11

61
Income before taxes on income
3,244

1,928
Taxes on income
43

78
Net income
3,201

1,850
Net income attributable to non-controlling interests
(88)

-
Net income attributable to Magic Shareholders
3,113

1,850


Net earnings per share attributable to


Magic:


Basic
0.09

0.06
Diluted
0.08

0.06


Weighted average number of shares used in


computing net earnings per share attributable to


Magic:


Basic
36,085

31,942


Diluted
37,074

32,351


MAGIC SOFTWARE ENTERPRISES LTD.
RECONCILIATION BETWEEN GAAP AND NON-GAAP
STATEMENTS OF INCOME FOR COMPARATIVE PURPOSES
U.S. dollars in thousands (except per share data)


Three months ended


March 31,


2011

2010


Unaudited


GAAP operating income


3,131

1,754
Amortization of capitalized software and


other intangible assets


883

950
Capitalization of software development

(1,289)

(711)
Stock-based compensation

164

36
Total adjustments to GAAP

(242)

275
Non-GAAP operating income

2,889

2,029


GAAP net income attributable to Magic Shareholders

3,113

1,850
Total adjustments to GAAP as above

(242)

275
Non-GAAP net income attributable to Magic


Shareholders


2,871

2,125


Non-GAAP basic net earnings per share


attributable to Magic


0.08

0.07
Weighted average number of shares used in


computing basic net earnings per share

36,085

31,942


Non-GAAP diluted net earnings per share


attributable to Magic


0.08

0.07
Weighted average number of shares used in


computing diluted net earnings per share

37,173

32,401


MAGIC SOFTWARE ENTERPRISES LTD.
CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands


March 31,

December 31,

2011

2010

(Unaudited)


ASSETS


CURRENT ASSETS:


Cash and cash equivalents
41,309

43,661
Short-term bank deposits
5,965

24
Available-for-sale marketable securities
2,881

2,857
Trade receivables, net
19,956

17,801
Other accounts receivable and prepaid expenses
3,490

4,029
Total current assets
73,601

68,372


LONG-TERM RECEIVABLES:


Severance pay fund
328

325
Other long-term receivables
2,474

2,141
Total other long-term receivables
2,802

2,466


PROPERTY AND EQUIPMENT, NET
1,811

1,827
IDENTIFIABLE INTANGIBLE ASSETS AND


GOODWILL, NET
42,725

39,285


TOTAL ASSETS
120,939

111,950


LIABILITIES AND EQUITY


CURRENT LIABILITIES:


Short-term credit and current maturities


of long term loans
7

9
Trade payables
3,068

2,994
Accrued expenses and other accounts payable
14,472

15,028
Deferred revenues
6,586

1,526
Total current liabilities
24,133

19,557


NON-CURRENT LIABILITIES:


Long-term loans
2

2
Liability due to acquisition activities
1,315

2,990
Accrued severance pay
549

536
Total non-current liabilities
1,866

3,528


EQUITY


Magic Shareholders' equity
93,353

88,865
Non-controlling interests
1,587

-
Total equity
94,940

88,865


TOTAL LIABILITIES AND EQUITY
120,939

111,950

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
CAPTNEMOS
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stock is taking a beating today.IM a long hold on this anyway.$10.00 plus is my target.

MGIC reported record breaking results for Q1 2011 with revenues of $25.5M and net income of $3.1M a 29% and 78% year over year increase As the economy recovers, we are seeing early signs of increased investment for technology and IT by small businesses and corporations. It should come at no surprise with corporations currently holding a record amount of cash as a percentage of current assets that now would be a good time for a technology upgrade. Because of this unique situation Magic Software should continue to see strong growth in sales and benefit from the overall recovery.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
T e x
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Already have a thread:

http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/2/ t/015924/p/1.html#000004

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged | Report this post to a Moderator
   

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