Sapiens International Swung to 3rd-Quarter Profit

Monday November 3, 11:22 am ET

RESEARCH TRIANGLE PARK, N.C. (Dow Jones)--Sapiens International Corp. N.V. swung to a third-quarter profit, its first after four consecutive quarters in the red. The information technology company for business processes posted a profit of $ 42,000, or breakeven earnings per share, compared with a year-ago loss of $579, 000, or 8 cents a share.

Latest-quarter revenue fell 19% to $13.4 million from $16.6 million.

In a press release Monday, Sapiens said it expects continued revenue and earnings growth in the fourth quarter.

Nasdaq shares of Sapiens recently traded at $4.33, up 12 cents, or 2.9%.

Sapiens International Corp. N.V. - Research Triangle Park, N.C.
   3rd Quar Sept. 30:
                        2003             2002
Revenue              $13,407,000      $16,571,000
Net income            42,000,000         (579,000)
Avg shrs (diluted)    12,856,000        7,292,000
Shr earns
 Net income                 ....             (.08)

Figures in parentheses are losses.

-Jerry Abejo; Dow Jones Newswires; 201-938-5400

Contact:
Richard Moore
Citigate Technology (UK)
Tel: +44 (0)1604 232 223
+972-8-938-2721
e-Mail: richard.moore@citigatetechnology.com