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To: redwood who wrote (19082)	6/19/2000 8:03:00 AM
From: Dale Baker	Read Replies (1) of 118717

At least they are still confident for the full year estimates. I will see how it trades today and decide if I want to hold or not. Magic Software sees Q2 earns below views NEW YORK, June 19 (Reuters) - Software developer Magic Software Enterprises Ltd (NasdaqNM:MGIC - news) said Monday it expected second quarter earnings to be below analysts' expectations because of lower North American and Japanese revenues and unfavourable currency valuations. Revenues for the second quarter 2000 are expected to be about $20 million, with earnings of about $1.8 million. Magic said these results are due in part to lower-than-expected revenues from its North American and Japanese operations and continuing unfavourable currency fluctuations, primarily the strengthening of the dollar against European currencies and the yen. However, the company states that it sees full year revenues in line with expectations. ``I remain confident about our medium and long-term growth prospects, and still anticipate revenue growth of more than 40 percent this year, which should put us in line with analysts' expectations for 2000,'' said Jack Dunietz, chief executive officer of Magic.

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