Sapiens International Corporation,an Israeli company of the Asseco Group, annouced its results of operations for the year 2010
Sapiens International, a NASDAQ and TASE listed company of the Asseco Group, a provider of innovative software solutions for insurance institutions, in 2010 generated sales revenues of USD 52.2 million.
Sapiens International, a NASDAQ and TASE listed company of the Asseco Group, a provider of innovative software solutions for insurance institutions, in 2010 generated sales revenues of USD 52.2 million, a 14% growth when compared to the prior year. Operating profit reached USD 6.7 million, this is 26% more than for 2009. Whereas, net profit improved by 46% and amounted to USD 6.2 million for the full 2010.
In the fourth quarter of 2010 the company generated USD 14.7 million of sales revenues which increased by 25 % in comparison with the corresponding period last year. The fourth quarter operating profit reached USD 1.9 million and it improved by 28% when compared to the corresponding period of 2009. The company’s net profit for the fourth quarter of 2010 amounted to USD 1.7 million, beating the year-ago earnings by 36%.
Such a growth in revenues and profits for 2010 was achieved owing to organic development of the company’s business worldwide. This was also contributed by the acquisition of Harcase, a provider of information solutions for the insurance industry, being one of the company’s most significant events during the previous year.
- We are very proud of our achievements in 2010. We were, and continue to be, focused on development and growth of our company. This remains our key objective also for 2011 – commented Roni Al-Dor, President and CEO of Sapiens International Corporation.
– We expanded our investments in sales, marketing and Research & Development. As we enter 2011 we will continue to establish our leadership in the market. Recently we signed a major deal with one of the largest financial institutions in the US, and this is certainly expected to be reflected in our 2011 and 2012 results.
Sapiens International Corporation is a global provider of software solutions for the insurance industry. The company is listed on TASE (Tel Aviv Stock Exchange) as well as the American NASDAQ Global Markets.