Magic Software Enterprises Ltd. (NASDAQ:MGIC) 1Q18 Earnings In Line With Street View

Magic Software Enterprises

Magic Software Enterprises Ltd. (NASDAQ:MGIC) revealed net income for the first quarter of $ 4.58 million or 10 cents per share, compared to income of $ 4.26 million or 10 cents per share, in the year-ago period.

On adjusted basis, MGIC reported income of $ 6.15 million or 14 cents per share.

Headquartered in , the company disclosed, revenue that reached $ 69.73 million, rose 15% from $ 60.76 million a year ago.

The consensus estimates from Thomson Reuters are income of $ 0.14 per share from $ 67.07 million in revenue.

Guy Bernstein, CEO, said: Our record-breaking results speak for themselves, demonstrating that Magic has continued the forward momentum of a very strong 2017. Our fiscal year 2018 is off to an excellent start driven by the continued high demand for our products and professional services across all of our regions and markets.

At the same time, Magic Software Enterprises anticipates full year 2018 revenue to be $283 million to $293 million.

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