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LinuxPR: Magic Software Announces Record Third Quarter Results

Posts EPS of $0.42, a 56% Increase Over Prior
Quarter.

Magic Software Enterprises, Ltd. (NASDAQ: MGIC) today reported
record sales and earnings for the fourth consecutive quarter. The
Company, which uses its state-of-the-art core application
development technology to develop and deploy e-commerce and other
business applications, attributed the record quarter to increasing
acceptance of Magic as a solutions provider.”

“Total revenues for the third quarter 1999 were $16.41 million
as compared to $9.34 million for the comparable three-month period
in 1998, a 76% increase over last year and a 7% increase over
revenues posted in the second quarter of 1999. Net income for the
quarter rose to $3.41 million ($0.42 earnings per share) from the
$0.12 million ($0.02 earnings per share) posted for the
corresponding period of 1998, a 56% increase over the previous
quarter.”

Press
Release