On Friday Magic Software Enterprises Ltd. (NASDAQ: MGIC) below -1.74% and ended at $9.01. The stock market capitalization arrived at $447.89M and total traded volume was 5284 shares. During last trade, its maximum trading price was registered $9.1 and it’s the minimum trading price was noted $8.94.

Magic Software Enterprises Ltd. (NASDAQ: MGIC), reported recently its financial results for the sixth months and second quarter ended June 30, 2019.

Financial Highlights for the Second Quarter Ended June 30, 2019

  • Revenues for the second quarter increased 10% to $77.1M contrast to $70.2M in the same period last year.
  • Operating income for the second quarter remained constant at $8.0M contrast to the same period last year. Operating income for the second quarter included costs of $1.0M related to the acquisition of PowWow completed on April 1st, 2019. Not including these one-time costs, operating income increased 13% contrast to the same period last year.
  • Non-GAAP operating income for the second quarter increased 9% to $10.7M contrast to $9.8M in the same period last year.
  • Net income attributable to Magic’s shareholders for the second quarter reduced 15% to $4.8M, or $0.08 per fully diluted share, contrast to $5.7M, or $0.12 per fully diluted share in the same period last year. Not Including PowWow’s $1.0M one-time acquisition costs, net income increased 2% contrast to the same period last year.
  • Non-GAAP net income attributable to Magic’s shareholders for the second quarter increased 1% to $7.1M, or $0.14 per fully diluted share, contrast to $7.0M, or $0.16 per fully diluted share, in the same period last year. Earnings per share for the second quarter of 2019 were negatively influenced by an amount of 1.4 cents per fully diluted share contrast to the same period last year resulting from the Company’s private placement of 4.3M shares to Israeli institutional investors concluded on the third quarter of 2018.

Financial Highlights for the Six-Month Period Ended June 30, 2019

  • Revenues for the first half of 2019 increased 6% to $148.9M contrast to $139.9M in the same period last year.
  • Operating income for the first half increased 6% to $16.4M contrast to $15.6M in the same period last year.
  • Non-GAAP operating income for the first half of 2019 increased 6% to $20.8M contrast to $19.5M in the same period last year.
  • Net income attributable to Magic’s shareholders for the first half reduced 1% to $10.2M, or $0.19 per fully diluted share, contrast to $10.3M, or $0.23 per fully diluted share in the same period last year.
  • Non-GAAP net income attributable to Magic’s shareholders for the first half increased 4% to $13.7M, or $0.28 per fully diluted share, contrast to $13.2M, or $0.30 per fully diluted share, in the same period last year. Earnings per share for the first half of 2019 were negatively influenced by an amount of 2.6 cents per fully diluted share contrast to the same period last year resulting from the Company’s private placement of 4.3M shares concluded on the third quarter of 2018 to Israeli institutional investors.
  • Cash flow from operating activities for the first half of 2019 amounted to $26.6M contrast to $16.1M in the same period last year.
  • As of June 30, 2019, Magic’s net cash, cash equivalents, short and long-term bank deposits and marketable securities, offset by short and long-term financial liabilities, and amounted to $87.8 M.
  • Magic is reiterating its fiscal year 2019 guidance issued in February for full year revenues of between $313M to $319M on a constant currency basis, reflecting yearly growth of 10% to 12%.

In the liquidity ratio analysis; Magic Software Enterprises Ltd.’s (MGIC) debt to equity ratio was 0.12 while current ratio was 3.40. The company has the institutional ownership of 27.00% while the Beta factor was 0.92. The stock’s RSI amounts to 48.81.