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Magic Reports Fourth Quarter and Full Year 2020 Financial Results with Record-Breaking Annual .
Magic Software Enterprises Ltd.March 8, 2021 GMT
Or Yehuda, Israel, March 08, 2021 (GLOBE NEWSWIRE) Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC), a global provider of end-to-end integration and application development platform solutions and IT consulting services, announced today its financial results for the fourth quarter and full year ended December 31, 2020.
Financial Highlights for the Fourth Quarter Ended December 31, 2020
Revenues for the fourth quarter increased 15% to a record-breaking $104.6 million compared to $90.9 million in the same period last year.
OR YEHUDA, Israel (AP) Magic Software Enterprises Ltd. (MGIC) on Monday reported fourth-quarter earnings of $5.2 million. The Or Yehuda, Israel-based company said it had net income of 11.
Price Action
Company s 52-week low was at $6.31
Price action over last quarter: Up 14.28%
Company Overview
Magic Software Enterprises Ltd is a software development company. The company s operating segment includes Software Services and IT Professional Services. It generates maximum revenue from the IT Professional Services segment. IT Professional Services segment offers advanced and flexible IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, as well as supplemental outsourcing services. Geographically, it derives a majority of revenue from the United States and also has a presence in Israel; Europe; Japan, and Other countries.
Mon: TASE resumes slide
Shufersal and Bank Leumi led the declines but Perrigo bucked the market.
The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.64%, to 1,552.42 points; the Tel Aviv 125 Index fell 0.76%, to 1,609.34 points; and the BlueTech Global Index fell 1.48%, to 571.15 points. The TelBond 20 corporate bond index fell 0.09%, to 370.59 points. Turnover totaled NIS 1.82 billion in equities and NIS 3.98 billion in bonds.
On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate 0.422% higher from Friday, at NIS 3.332/$, and the representative shekel-euro rate was 0.023% higher, at NIS 3.958/€.
On the market, Shufersal Ltd. (TASE:SAE) fell 2.92% and Bank Leumi (TASE: LUMI) fell 1.40% on the day s biggest trading turnover. Maytronics Ltd. (TASE:MTRN) fell 4.44% for the biggest fall on the Tel Aviv 35 Index today. Israel Discount Bank (TASE: DSCT) fell 1.13% and Azrieli Group Ltd. (TASE: AZRG) fell 1.02%.
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