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LinuxPR: Magic Software Enterprises Reports Record Fourth Quarter 1999 Results

“Magic Software Enterprises, Ltd. (NASDAQ: MGIC) today reported
record results for the fourth quarter. The Company attributed these
results to the success of its new applications and acquisition
strategies, as well as the increased demand for its products and
services.”

“For the fourth quarter ended December 31, 1999, Magic reported
record revenues of $18.6 million, the highest sales ever recorded
by the Company in a single quarter… Net earnings for the
fourth quarter 1999 were at a record high of $3.8 million ($0.14
income per share)…”

“Regarding Magic’s involvement with Linux, in October the
Company announced a developer partnership agreement with Red Hat,
Inc. (Nasdaq: RHAT) to include release of Magic’s Enterprise Server
v.8.3 on Red Hat Linux 6.1, Red Hat’s latest CD.”

“The Company also announced that it would be introducing its
award-winning development environment for the Linux platform early
in 2000. Magic’s Enterprise Edition v.8 development environment for
Linux, which enables developers to build e-commerce and other
enterprise-level solutions directly on the platform, debuted last
month at the LinuxWorld Expo in New York City to a crowd of
approximately 15,000 convention-goers and at an introductory price
of $299.”

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