Magic Software MGIC Stock Report And Earnings

MGIC reported record breaking results for Q1 2011 with revenues of $25.5M and net income of $3.1M a 29% and 78% year over year increase As the economy recovers, we are seeing early signs of increased investment for technology and IT by small businesses and corporations. It should come at no surprise with corporations currently holding a record amount of cash as a percentage of current assets that now would be a good time for a technology upgrade. Because of this unique situation Magic Software should continue to see strong growth in sales and benefit from the overall recovery.