• The Four Hundred
  • Subscribe
  • Media Kit
  • Contributors
  • About Us
  • Contact
Menu
  • The Four Hundred
  • Subscribe
  • Media Kit
  • Contributors
  • About Us
  • Contact
  • Magic Software Still Has The Touch In Q1

    May 12, 2014 Timothy Prickett Morgan

    Software development tool maker Magic Software Enterprises is riding up the wave of mobile and cloud software development and tools to integrate legacy systems into these new-fangled apps and devices.

    In the first quarter ended in March, Magic Software reported revenues of $40.95 million, up 22.6 percent from the year ago period. Its costs did not rise as fast as sales, and neither did research and development costs and other operational costs, and so the company was able to bring $4.85 million to the bottom line, an increase of 29.4 percent over the same quarter in 2013.

    The company’s cash hoard has been growing nicely as the business has done better, and stood at $87.4 million at the end of the quarter, up by a factor of 1.5 times. The company only has $3.1 million in in debts, both long-term and short term. That cash hoard was bumped up by an offering of shares to the public on the NASDAQ stock exchange, where it had net proceeds after paying off the lawyers and bankers of $54.7 million.

    “I am very pleased to report another excellent quarter with strong performance across our products and professional services in all regions,” Guy Bernstein, chief executive officer at Magic Software, said in a statement accompanying the financial results. “Our revenue streams are growing in line with Magic’s strategic development goals.”

    “This strong start to 2014 along with the additional capital from our recent public offering puts us on track to continue to create and deliver long-term shareholder value,” Bernstein continued. “We are confident in our growth strategy and are establishing revenue guidance in the range of $161 million to $165 million for the full year 2014.”

    RELATED STORIES

    Magic Software Scores Another Quarterly Revenue Success

    Magic Follows Up 2012 Success With Q1 2013 Momentum

    More Record-Breaking Results For Magic Software

    Magic Software Continues On The Comeback Trail

    The Magic Continues In The First Quarter For Magic Software

    Magic Posts Mad Profit Surge, Declares FY11 ‘Best Ever’

    Magic Software Shoots Skyward Again in Q4



                         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:

    Sponsored by
    VISUAL LANSA 16 WEBINAR

    Trying to balance stability and agility in your IBM i environment?

    Join this webinar and explore Visual LANSA 16 – our enhanced professional low-code platform designed to help organizations running on IBM i evolve seamlessly for what’s next.

    🎙️VISUAL LANSA 16 WEBINAR

    Break Monolithic IBM i Applications and Unlock New Value

    Explore modernization without rewriting. Decouple monolithic applications and extend their value through integration with modern services, web frameworks, and cloud technologies.

    🗓️ July 10, 2025

    ⏰ 9 AM – 10 AM CDT (4 PM to 5 PM CEST)

    See the webinar schedule in your time zone

    Register to join the webinar now

    What to Expect

    • Get to know Visual LANSA 16, its core features, latest enhancements, and use cases
    • Understand how you can transition to a MACH-aligned architecture to enable faster innovation
    • Discover native REST APIs, WebView2 support, cloud-ready Azure licensing, and more to help transform and scale your IBM i applications

    Read more about V16 here.

    Share this:

    • Reddit
    • Facebook
    • LinkedIn
    • Twitter
    • Email

    m-Power Brings 2FA to Web Apps Using Built-In Global Variables In DB2 For i 7.2

    Leave a Reply Cancel reply

Volume 24, Number 17 -- May 12, 2014
THIS ISSUE SPONSORED BY:

SEQUEL Software
Profound Logic Software
Essextec
Shield Advanced Solutions
RJS Software Systems

Table of Contents

  • As The World Turns: Investments In IBM i
  • Doing The Two-Step To Get To Power8
  • IBM Power Systems Can Do Big Data Analytics, Too
  • Mad Dog 21/21: IBM, The Dacoit, And Ganesha’s Mother
  • IBM Announcements Buzz At COMMON Annual Meeting
  • Hotels Expand Agilysys Footprints As Vendor Sells UK Business
  • Familiarity Breeds Strategy As COMMON Board Members Take Their Seats
  • LANSA’s View Of Mobile Reality
  • Mixed Bag For Arrow’s Enterprise Biz In March Quarter
  • Magic Software Still Has The Touch In Q1

Content archive

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

Recent Posts

  • Liam Allan Shares What’s Coming Next With Code For IBM i
  • From Stable To Scalable: Visual LANSA 16 Powers IBM i Growth – Launching July 8
  • VS Code Will Be The Heart Of The Modern IBM i Platform
  • The AS/400: A 37-Year-Old Dog That Loves To Learn New Tricks
  • IBM i PTF Guide, Volume 27, Number 25
  • Meet The Next Gen Of IBMers Helping To Build IBM i
  • Looks Like IBM Is Building A Linux-Like PASE For IBM i After All
  • Will Independent IBM i Clouds Survive PowerVS?
  • Now, IBM Is Jacking Up Hardware Maintenance Prices
  • IBM i PTF Guide, Volume 27, Number 24

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