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Magic Software Announces Second Quarter Results with Year-over-Year 22% Growth in Net Profit and 21% Increase in License Revenue

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Stamps. End 2000 Financial Results Company reports 26 percent growth in revenue over third quarter, with positive gross margin and continued focus on achieving profitability SANTA MONICA, Calif. February 22, Stamps.com™ ( STMP), today announced that revenue in the fourth quarter of year 2000 was $5.3 million, an increase of 26 percent over the third quarter of year 2000, while total revenue for fiscal year 2000 was $15.2 million.

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OR YEHUDA, Israel--(BUSINESS WIRE)--Aug. 5, 2004--Magic Software Enterprises Ltd. (Nasdaq:MGIC), a leading provider of state-of-the-art business integration and development technology, reported today its results for the quarter ended June 30, 2004, showing year-over-year growth of 22% in net profit and a 21% increase in license revenue.

Stamps.com Reports Second Quarter 2000 Financial Results Second Quarter Revenue Grows 80 Percent SANTA MONICA, Calif. July 13, Stamps.com today announced that second quarter revenue was $3.7 million, an increase of 80 percent over first quarter revenue. cash charges was $34.4 million, or $0.72 per share based on the weighted average common shares outstanding of 48.0 million. term investments ended the second quarter at $333.6 million, or $7 per share.

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Second Quarter Results

Company to Host Conference Call on August 14, 30 p.m. Eastern REDWOOD CITY, CA, August 06, - Migo Software, Inc. ( MIGO), a global provider of mobile computing software, announced today that the Company's senior management will discuss the results of operations for the second quarter ended June 30, 2007 during a conference call scheduled for Tuesday, August 14, 2007, 30 p.m. Eastern. The Company's financial results for the quarter are scheduled to be released earlier that day.

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Second quarter revenues were $16.67 million, a 9% increase over $15.30 million achieved in the comparable quarter of 2003. License sales for the quarter reached $5.48 million, an increase of 21% over $4.53 million recorded in the same quarter of 2003. Application sales were $1.78 million, an increase of 7% over $1.66 million achieved in the comparable quarter of 2003, while revenues from maintenance and support, at $3.07 million, increased 15% over $2.67 million in the same period of 2003. Revenues from consulting and other services, at $6.34 million, decreased 2% from $6.45 million in the comparable quarter.

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Gross profit in the second quarter of 2004 was $10.2 million, an increase of 8% over $9.4 million recorded in the comparable quarter of 2003. Net profit for the second quarter was $914,000 (or $0.03 per share), an increase of 22% over net profit of $752,000 (or $0.03 per share) in the second quarter of 2003. notebooks
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In the second quarter of 2004, Europe accounted for 42% of total revenue, while North America, Japan and the rest of the world accounted for 32%, 17% and 9%, respectively. hard drive
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Menachem Hasfari, CEO of Magic Software, commented: "We are pleased with the company's achievements this quarter, and especially with the growth of our sales in software licenses, which is mainly attributable to our integration platform, iBOLT." gateway
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"Of particular encouragement is the growth in iBOLT partnership recruitment," noted Hasfari. "Twenty-seven new iBOLT partners have been recruited during the quarter in Europe, North and Latin America and Japan. This is in line with our strategy in building a strong community of iBOLT partners to ensure growth. Together with the upcoming launch of the ground-breaking Version 2 of iBOLT in October 2004, Magic is well placed to effectively meet the challenges of the business integration market." software
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Accomplishments electronics
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The following highlights were announced or occurred since Magic Software Enterprises' last earnings statement: desktop pc
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-- A number of existing major customers, including the Supreme Court of California and the court system of San Francisco, have agreed to extend their contract for technical support and professional services in addition to increasing their existing software licenses for the iBOLT Integration Suite and eDeveloper. think pad
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-- A six-month extension to an agreement with a world leader in package delivery and supply chain services for approximately $500,000 in additional development services. data recovery
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-- Magic's Solution Partner, Access Data Corp. (ADC) of Angel Fire, N.M., has successfully deployed and integrated the Magic-based Sleuth(C) system, which is a comprehensive public safety records management solution, for the State of Colorado, Department of Corrections. keyboard
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-- United Kingdom-based Denholm Logistics Ltd. will upgrade and enhance their freight and haulage systems using eDeveloper 9.4, Magic Software's flagship application development environment. desktop
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-- Magic Software's iBOLT Integration Suite was named in the SD Times 100 for "Innovative Leadership In The Software Development Industry." refurbished laptops
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Conference Call lap top
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Magic Software will host a conference call today, Aug. 5, 2004, at 10:00 a.m. EDT, 14:00 GMT and 17:00 in Israel, to discuss the company's second quarter financial results. To participate, interested parties should call the appropriate number listed below at least 5-10 minutes prior to the start of the call: memory
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North America 1-866-276-1002 or 1-866-500-4964 as400
Israel 03-925-5910 averatec
International +972-3-925-5910 hardware
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Callers should reference "Magic Software Q2 Earnings Conference Call" with the Operator. storage
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Additionally, a live webcast of the conference call can be accessed from the Magic Web site, http://www.magicsoftware.com/investors. computer sales
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A replay of the conference call will be available at http://www.magicsoftware.com/investors. printers
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About Magic Software Enterprises mainframe
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Magic Software Enterprises, a member of the Formula Group (Nasdaq:FORTY), develops, markets and supports software development, deployment and integration technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners in approximately 50 countries. The company's North American subsidiary is located at 17310 Redhill Ave. #270, Irvine, CA 92614-5637, telephone 800-345-6244, 949-250-1718, fax 949-250-7404, http://www.magicsoftware.com/. computer repair
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The Formula Group is an international information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and producing computer-based solutions. network
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Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the company's most recent annual report and other filings with the Securities and Exchange Commission. desktops
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Consolidated Balance Sheets hosting
(U.S. Dollars in Thousands) netfinity
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June 30, December 31, cheap computer
2004 2003 digital camera
(Unaudited) printer
Assets xseries
Current assets maxtor
Cash and cash equivalents $9,220 $13,581 data storage
Short-term marketable securities 4,226 ---- hitachi
Accounts receivable rational
Trade receivables 21,697 19,725 websphere
Other receivables and prepaid expenses 3,500 3,269 battery
Inventory 397 188 it support
Total current assets 39,040 36,763 western digital
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Severance pay fund 1,947 1,781 networks
Long-term deposits 226 279 toner
Investments in affiliated companies 190 100 cheap laptops
Fixed assets, net 7,445 7,855 wholesale
Goodwill 21,472 20,776 brother
Other assets, net 10,186 10,246 netvista
Total assets $80,506 $77,800 camera
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Liabilities sharp
Current liabilities cheap
Short-term bank debt $1,871 $2,368 windows
Trade payables 2,745 3,249 monitors
Accrued expenses and other liabilities 16,364 14,348 linux
Total current liabilities 20,980 19,965 computer support
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Long-term loans 78 288 cameras
Accrued severance pay 2,323 2,166 scanners
Minority interests 790 1,457 panasonic
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Shareholders' equity iseries
Share capital 826 805 backup
Capital surplus 105,443 104,685 information technology
Treasury stock (5,773) (5,773) routers
Accumulated deficit (44,161) (45,793) 180gxp
Total shareholders' equity 56,335 53,924 notebook battery
Total liabilities and shareholders' equity $80,506 $77,800 security
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Unaudited Consolidated Statement of Operations thinkpad 600
(U.S. Dollars in Thousands) thinkpad 600e
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Three Months Six Months thinkpad 600x
ended ended thinkpad 390x
June 30, June 30, thinkpad a31
2004 2003 2004 2003 thinkpad x20
Revenues bios update
Software sales $5,481 $4,525 $10,942 $8,602 laptops
Applications 1,778 1,661 3,442 3,324 toshiba
Maintenance 3,070 2,666 5,865 5,245 laptop battery
Consultancy & other services 6,338 6,449 12,872 13,256 thinkpad
Total Revenues $16,667 $15,301 $33,121 $30,427 microsoft
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Cost of Revenues laptop computer
Software sales $1,099 $1,128 $2,347 $1,944 desktop computer
Applications 416 220 1,035 464 notebooks
Maintenance 892 664 1,696 1,255 lenovo
Consultancy & other services 4,074 3,867 7,843 8,450 hard drive
Total Cost of Revenues $6,481 $5,879 12,921 12,113 travelstar
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Gross Profit $10,186 $9,422 $20,200 $18,314 laptop parts
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Research & development, net 869 1,142 2,074 2,147 hard drives
Sales, marketing, and general electronics
& administrative expenses 7,927 7,125 15,404 14,346 canon
Depreciation 495 397 934 809 desktop pc
Operating Income $895 $758 $1,788 $1,012 desktop computers
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Financial expenses (income), net 41 (185) 156 (230) repair
Income before taxes 854 943 1,632 1,242 data recovery
Taxes on income - (95) - 14 cisco
Income before minority interests 854 848 1,632 1,228 keyboard
Minority interests in income of monitor
subsidiaries 30 96 90 204 desktop
Equity gains 90 90 infosys
Net income $914 $752 $1,632 $1,024 refurbished laptops
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Basic Earnings per Share $0.03 $0.03 $0.05 $0.03 lap top
Diluted Earnings per Share $0.03 $0.03 $0.05 $0.03 refurbished
Weighted Avg. Shares Outstanding memory
(000) 31,162 29,474 31,109 29,492 intel
Diluted Weighted Avg. Shares as400
Outstanding (000) 32,335 30,021 32,335 29,768 averatec
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Contacts storage
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Magic Software Enterprises Ltd. computer hardware
Hilel Kremer, +972-3-538-2994 printers
Hilelk@magicsoftware.com technology
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Gelrbat Kahana International samsung
Ehud Helft (Investors), 1-866-704-6710 computer repair
Ehud@gk-biz.com used computers
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Kenny Green (Investors), 1-866-704-6710
Kenny@gk-biz.com