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Last 10,820
Change Today +110.00 / 1.03%
Volume 421.0
As of 3:05 AM 07/1/15 All times are local (Market data is delayed by at least 15 minutes).

formula systems (1985) ltd (FORTY) Snapshot

Open
$10,710
Previous Close
$10,710
Day High
$10,850
Day Low
$10,710
52 Week High
06/3/15 - $11,690
52 Week Low
02/2/15 - $8,100
Market Cap
1.6B
Average Volume 10 Days
9.9K
EPS TTM
$2.09
Shares Outstanding
14.7M
EX-Date
07/20/15
P/E TM
13.7x
Dividend
$0.68
Dividend Yield
3.87%
Current Stock Chart for FORMULA SYSTEMS (1985) LTD (FORTY)

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formula systems (1985) ltd (FORTY) Details

Formula Systems (1985) Ltd. provides a range of information technology (IT) solutions and services, and develops and markets proprietary software solutions. It offers software solutions and services, such as outsourcing and developing customized software; computer systems management infrastructures, Web world content management, database and data warehouse mining, application integration, database and systems, data management, and software development tools; computer and telecommunication infrastructure solutions; and professional training courses and advanced professional studies. The company also sells personal computers, portable computers, Intel servers, peripheral equipment, operating systems, servers, and workstations; provides computer and peripheral equipment maintenance services, lab, and helpdesk services; and sells and markets cloud based solutions. In addition, it offers Sapiens ALIS, an L&P software solution for individual, group, and worksite insurance products; Sapiens Retirement Services for record-keeping management; Sapiens Closed Books, a solution to administer policies and claims relating to closed books of business; and Sapiens TOPAZ to handle L&P activities and regulations. Further, the company provides Sapiens IDIT for general insurance carriers; Sapiens Insight for business demands at the insurer level and regulatory needs at the state level; Sapiens Reinsurance that enables property and casualty/general insurance carriers and brokers to handle reinsurance activities on a single platform; and Sapiens DECISION, a business decision management solution. Additionally, it supplies professionals in the areas of accounting and finance, administrative, customer service, clinical, scientific and healthcare, engineering, manufacturing and operations, human resources, IT technology, LI/MFG, and marketing and sales. The company was founded in 1985 and is headquartered in Or Yehuda, Israel.

10,108 Employees
Last Reported Date: 05/3/15
Founded in 1985

formula systems (1985) ltd (FORTY) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $510.7K
Compensation as of Fiscal Year 2014.

formula systems (1985) ltd (FORTY) Key Developments

Formula Systems (1985) Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Formula Systems (1985) Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company revenues of $194,409,000 compared with $173,489,000 for the same period last year. Operating income was $13,282,000 compared with $6,973,000 for the same period last year. Income before taxes on income was $12,265,000 compared with $4,909,000 for the same period last year. Net income attributable to company’s shareholders was $6,223,000 or $0.42 diluted per share compared with $62,867,000 or $4.39 diluted per share for the same period last year.

Formula Systems (1985) Ltd. Reports Audited Earnings Results for the Year Ended December 31, 2014

Formula Systems (1985) Ltd. reported audited earnings results for the year ended December 31, 2014. For the period, the company reported net income of $80.8 million.

Formula Systems (1985) Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Formula Systems (1985) Ltd. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company revenues of $162,048,000 compared with $208,668,000 for the same period last year. Operating income was $9,794,000 compared with $17,389,000 for the same period last year. Income before taxes on income was $9,611,000 compared with $16,166,000 for the same period last year. Net income attributable to Formula's shareholders was $8,810,000 or $0.60 diluted per share compared with $66,351,000 or $4.65 diluted per share for the same period last year. Non-GAAP operating income was $18.4 million compared with $19.1 million for the same period last year. The decrease is due to the deconsolidation of Magic Software Enterprises' (MGIC) and Sapiens' results of operations, which were previously consolidated during fourth quarter of 2013, and which continued to be accounted in 2014 under the equity method of accounting. For the full year, the company reported revenues of $636,417,000 compared with $795,881,000 for the same period last year. Operating income was $35,035,000 compared with $60,742,000 for the same period last year. Income before taxes on income was $30,169,000 compared with $54,506,000 for the same period last year. Net income attributable to Formula's shareholders was $75,061,000 or $5.19 diluted per share compared with $80,687,000 or $5.68 diluted per share for the same period last year. Non-GAAP operating income was $66.7 million compared with $814.0 million for the same period last year.

 

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