Sapiens International Corporation (SPNSF): Turn around...? Message Board

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Technology Stocks : Sapiens International Corporation (SPNSF): Turn around...?

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To: jay silberman who wrote (118)	8/4/1997 8:29:00 AM
From: jay silberman	of 1936

Earnings out, on Business Wire. How do you think it's going to affect the opening: Total revenues for the second quarter ended June 30, 1997 were $10.4 million compared with $9.4 million for the same period last year. Product revenues increased by 26.4%. Operating income for the quarter was $1.0 million versus $0.2 million last year, while net income reached $1.1 million, or $0.02 per share ($0.06 per share on a fully diluted basis), compared with a net profit of $0.3 million, excluding an $8.5 million class actions settlement provision. Commenting on the results, Ron Zuckerman, Chief Executive Officer said, "We are very pleased to report strong growth in operating and net income on both a year-over-year and sequential quarter basis. The majority of our revenues still derive from our core business while our year 2000 initiative continues to build strong momentum. "Our year 2000 offering is generating significant interest. We recently signed agreements with a number of large companies with a total value in excess of $10 million. The financial impact from the year 2000 offering this quarter is minimal, but is expected to build during the year."

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