Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Formula Systems Reports Fourth Quarter and full year 2020 Financial Results with Annual Net .
Formula Systems (1985) Ltd.March 17, 2021 GMT
OR YEHUDA, Israel, March 17, 2021 (GLOBE NEWSWIRE) Formula Systems (1985) Ltd. (NASDAQ: FORTY), a global information technology holding company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software products, today announced its results for the fourth quarter and full year ended December 31, 2020.
Financial Highlights for the Fourth Quarter Ended December 31, 2020
Consolidated revenues for the fourth quarter increased by 21.2% to a record breaking $543.2 million. Revenues for the fourth quarter ended December 31, 2019 amounted to $448.2 million.
Price Action
Company s 52-week low was at $6.31
Price action over last quarter: Up 14.28%
Company Overview
Magic Software Enterprises Ltd is a software development company. The company s operating segment includes Software Services and IT Professional Services. It generates maximum revenue from the IT Professional Services segment. IT Professional Services segment offers advanced and flexible IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, as well as supplemental outsourcing services. Geographically, it derives a majority of revenue from the United States and also has a presence in Israel; Europe; Japan, and Other countries.