• The Four Hundred
  • Subscribe
  • Media Kit
  • Contributors
  • About Us
  • Contact
Menu
  • The Four Hundred
  • Subscribe
  • Media Kit
  • Contributors
  • About Us
  • Contact
  • Magic Software Rides UniPaaS and iBOLT Waves in Q3

    November 8, 2010 Timothy Prickett Morgan

    Asseco Group, the Polish holding company that is traded on the Warsaw Stock Exchange that recently took control of IBM i development tool maker Magic Software Enterprises, must be feeling pretty good about its investment. Magic Software’s sales and profits have shot up like a rocket in the most recent quarter.

    In the quarter ended September 30, Magic Software reported sales of $22.4 million, up 65.9 percent from the year ago period, and net income more than tripled to $2.6 million. This is the second quarter in a row of strong sales and profits from the software tool maker, which hasn’t seen numbers like this for several years.

    Magic Software, which is still a publicly traded company whose shares go back and forth on the NASDAQ exchange even though it is controlled by another company traded on another exchange on the other side of the globe, doesn’t break its revenues down by product line. But in its commentary on its Q3 financials, Magic Software said that it has gained new customers for both its uniPaaS and iBOLT tools and has also increased sales of these to products. Sales were particularly strong in Japan, the United States, and the Netherlands, and with several partnerships in the United Kingdom and Greece and its big-time connections in Poland, you can expect the company to do a big push in these regions now. In fact, Magic Software said it is now cutting deals in Germany and Hungary and did its first deal in Poland in the quarter.

    Commenting on the results, Guy Bernstein, acting chief executive officer of Magic Software, said:

    “I am very pleased to report robust growth and continued improvement in all our operations for the third quarter. This has been driven by greater demand for our professional services and improved license sales of our uniPaaS RIA application platform among enterprises and independent software vendors worldwide.”

    Magic Software has $22.1 million in cash and equivalents on hand and no debts on its balance sheet. For the nine months of this year, the company has booked $63.6 million in revenues and brought $6.3 million to the bottom line.

    RELATED STORIES

    Asseco Group Buys Formula Systems, and Therefore Magic Software

    Magic Builds Out Partner Network in Europe

    A Magic Rebound for Software Maker?

    Magic Updates Application Framework for i/OS

    SharePoint Gets Its Own iBOLT for ERP Integration

    Dutch Consultant Taps Magic’s iBolt for JDE Integration Projects

    Magic Software’s Revenue and Profits Decline in Q2

    Magic Delivers Stronger .NET Client with uniPaaS 1.8

    Former Magic CEO Sues as iBOLT Sales Channel Widened



                         Post this story to del.icio.us
                   Post this story to Digg
        Post this story to Slashdot

    Share this:

    • Reddit
    • Facebook
    • LinkedIn
    • Twitter
    • Email

    Tags: Tags: mtfh_rc, Volume 19, Number 40 -- November 8, 2010

    Sponsored by
    DRV Tech

    Get More Out of Your IBM i

    With soaring costs, operational data is more critical than ever. IBM shops need faster, easier ways to distribute IBM applications-based data to users more efficiently, no matter where they are.

    The Problem:

    For Users, IBM Data Can Be Difficult to Get To

    IBM Applications generate reports as spooled files, originally designed to be printed. Often those reports are packed together with so much data it makes them difficult to read. Add to that hardcopy is a pain to distribute. User-friendly formats like Excel and PDF are better, offering sorting, searching, and easy portability but getting IBM reports into these formats can be tricky without the right tools.

    The Solution:

    IBM i Reports can easily be converted to easy to read and share formats like Excel and PDF and Delivered by Email

    Converting IBM i, iSeries, and AS400 reports into Excel and PDF is now a lot easier with SpoolFlex software by DRV Tech.  If you or your users are still doing this manually, think how much time is wasted dragging and reformatting to make a report readable. How much time would be saved if they were automatically formatted correctly and delivered to one or multiple recipients.

    SpoolFlex converts spooled files to Excel and PDF, automatically emailing them, and saving copies to network shared folders. SpoolFlex converts complex reports to Excel, removing unwanted headers, splitting large reports out for individual recipients, and delivering to users whether they are at the office or working from home.

    Watch our 2-minute video and see DRV’s powerful SpoolFlex software can solve your file conversion challenges.

    Watch Video

    DRV Tech

    www.drvtech.com

    866.378.3366

    Share this:

    • Reddit
    • Facebook
    • LinkedIn
    • Twitter
    • Email

    Admin Alert: Risk and the Power i Hardware Upgrade SugarCRM V6 Makes Social Networking Sweet for Business

    Leave a Reply Cancel reply

TFH Volume: 19 Issue: 40

This Issue Sponsored By

    Table of Contents

    • Smackdown: Linux on X64 Versus IBM i on Entry Power 7XXs
    • Get Database Skills for Career ROI
    • Let’s Take a Deep Dive Into IBM’s System Sales in Q3
    • Mad Dog 21/21: Wither Thou Ghost–That IBM-Fortinet Halloween Deal
    • IBM i Gets Pressure from Microsoft’s Small Biz Server 2011
    • UNICOM Loses Appeal of SoftLanding Lawsuit
    • Arrow Sees Enterprise Sales Rebound a Bit in Third Quarter
    • Acquisitions Hike Avnet Fiscal Q1 Earnings
    • Oracle and SAP Talk Settlement on TomorrowNow Legal Fees
    • Magic Software Rides UniPaaS and iBOLT Waves in Q3

    Content archive

    • The Four Hundred
    • Four Hundred Stuff
    • Four Hundred Guru

    Recent Posts

    • The Power11 Transistor Count Discrepancies Explained – Sort Of
    • Is Your IBM i HA/DR Actually Tested – Or Just Installed?
    • Big Blue Delivers IBM i Customer Requests In ACS Update
    • New DbToo SDK Hooks RPG And Db2 For i To External Services
    • IBM i PTF Guide, Volume 27, Number 33
    • Tool Aims To Streamline Git Integration For Old School IBM i Devs
    • IBM To Add Full System Replication And FlashCopy To PowerHA
    • Guru: Decoding Base64 ASCII
    • The Price Tweaking Continues For Power Systems
    • IBM i PTF Guide, Volume 27, Numbers 31 And 32

    Subscribe

    To get news from IT Jungle sent to your inbox every week, subscribe to our newsletter.

    Pages

    • About Us
    • Contact
    • Contributors
    • Four Hundred Monitor
    • IBM i PTF Guide
    • Media Kit
    • Subscribe

    Search

    Copyright © 2025 IT Jungle