Magic Software Enterprises Ltd (MGIC) announced a profit for its first quarter that increased from last year but missed the Street estimates.
The company's bottom line came in at $9.48 million, or $0.19 per share. This compares with $8.80 million, or $0.18 per share, last year.
Excluding items, Magic Software Enterprises Ltd reported adjusted earnings of $12.21 million or $0.25 per share for the period.
Analysts on average had expected the company to earn $0.27 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 12.7% to $147.34 million from $130.72 million last year.
Magic Software Enterprises Ltd earnings at a glance (GAAP) :
-Earnings: $9.48 Mln. vs. $8.80 Mln. last year.
-EPS: $0.19 vs. $0.18 last year.
-Revenue: $147.34 Mln vs. $130.72 Mln last year.
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