This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sapiens Q3 2012 Revenue Increases 67% To $29.6 Million

Stocks in this article: FORTY SPNS

REHOVOT, Israel, November 13, 2012 /PRNewswire/ --

Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a provider of innovative software solutions for the financial services and a member of the Formula Group (NASDAQ: FORTY and TASE: FORT), announces its financial results for the third quarter ended September 30, 2012.

     (Logo: )

Third Quarter Year-over-Year Financial and Business Highlights include:

  • Revenue increased 67% to $29.6 million, compared to revenue of $17.8 million in the third quarter of 2011
  • Non-GAAP operating profit increased 96% to $4.1 million, compared to $2.1 million in third quarter of 2011. Operating profit grows 144% to $3.3 million, compared to $1.4 million in the third quarter of 2011
  • Non-GAAP net income increased 86% to $4.3 million, compared to $2.3 million in the third quarter of 2011. Net income increased by 123% to $3.5 million, compared to $1.6 million in the third quarter of 2011
  • Non-GAAP operating profit margin expanded to 14.0%, compared to $11.9% for third quarter of 2011
  • Non-GAAP diluted EPS was $0.10, compared to $0.07 per diluted share for the third quarter of 2011.
  • Sapiens has signed several new customers, including MTL Insurance (US) with  Sapiens ALIS  and MDIS (UK) with Sapiens IDIT
  • Cash position at the end of the quarter reached $33.1 million, compared to $21.5 million at December 31, 2011

Nine months Year-over-Year Financial Highlights include:

  • Revenue increased 82% to $82.7 million, compared to revenue of $45.3 million in the same period last year
  • Non-GAAP operating profit increased 80% to $11.2 million, compared to $6.2 million in same period last year
  • Non-GAAP net income increased 76% to $11.0 million, compared to $6.2 million in the same period last year
  • Non-GAAP diluted EPS was $0.26, compared to $0.24 per diluted share for the same period last year.

Roni Al Dor, President & CEO of Sapiens International, commented, "Q3 was another strong quarter for Sapiens. We were extremely pleased with the opportunity to partner with new customers, further establishing Sapiens as a market leader. Sapiens client base is rapidly growing, and our market recognition in the global market is further enhanced, with the adoption of our Property & Casualty, Life & Annuity and Decision Management solutions. We are growing rapidly, profitably and we are expanding margins. To meet our growth plans, we are also growing our team of insurance and technology experts, globally. Sapiens continues to execute and is  well positioned to accelerate profitable growth as a leading global provider of innovative software solutions and services."

Increased 2012 Guidance

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs