Would you like to own some Magic Software?
Yes, We Can! I mean, who would not want to own some?
Magic Software Enterprises Ltd (MGIC) announced 3Q earnings today and the stock is up nearly 20% on the news.Magic Software Triples Operating Profits for Third Quarter of 2010
Third quarter revenues increased 66% year-over-year from $13.5 million to $22.4 million , and 4% from the second quarter of 2010;
Operating income for the third quarter tripled to $2.5 million compared to $0.8 million in the same period last year;
Operating and net income for the nine-month period of 2010 more than doubled to $6.3 million, compared to $2.5 million and $2.7 million respectively in the same period last year;
Operating cash flow for the first nine-months of 2010 increased 106% to $8.9 million compared to $ $4.3 million in the same period last year.